BIR Ruling No. 286-2022

REPUBLIC OF THE PHILIRPINFS

BUREAU OP UNTERNAL REVENUE DEPARTMENT OF FINANCE

Certificate Bi- leh Ta Exemption No

CERTIFICATE OF TAX EXEMPTION

TO ALL WHOM IT MAY CONCERN:

This certifies that COMMUNITIES BULACAN, INC. with Taxayer Identification

Homes Plaridel -- Brgy. Lagundi, Plaridel, n e acan, consisting of 812 house and lot units Number (TIN) its income received directly in connection with its economic and low-cost housing project, Bria is exempt from income tax and creditable withholding tax on

Bulacan, a project duly registered with the Board of Investments (BOI) under Certifica ".: of used solely for family home or dwelling purposes, located at Brgy. Lagundi, Plaridel,

Order (EO) No. 226, otherwise known as the "Omnibus Investments Code of 1987" and Section 2.57.5 (B) (2) of Revenue Regulations (RR) No. 2-98, as amended. October 2021 or actual start of commercial operations/selfing, whichever is earlier, but in no case earlier than the date of registration of the project with the BOI, pursuant to Executive Registration No. dated October 05, 2021, for a period of 3 years beginning from

below, or house and lot and other residentiai dwellings-valued at P3,199,200.00 and below, is 1997, as amended. Provided, however, that beginning January 01, 2021, the VAT exemption P3,199,200.002. shall only apply to sale of house and lot and other-residential dwellingsl valued at VAT-exempt under Section 109(1)(P) of the National Internal Revenue Code (Tax Code) of Moreover, the sale by the Company of residential lot valued at'P1,919,500.00 and

Tax Code of 1997, as amended. registered with the BOI, if any, including those units used for commercial purposes such as leasing, retail stores, offices, etc. shall be subject to the paynent of appropriate taxes under the However, the sale of house and lot units in excess of the 812 house and lot units

applicable BIR rules and regulatiors and the Terms and Conditions stated at the'back hereof. The Company is liable, however, for all other applicable taxes not discussed above. The grant of tax exemption herein is subject to the compliance with the provisions of

that the facts are'different, then this Certificate st a I be considered null and void. documents as represented and submitted. However. if upon investigation, the BIR ascertains This Certificate of Tax Exemption is being issued on the basis of the facts ard

Issued this day of JUN 0 8 20Z2

K-1 -GPS Commissioner of Internal Revent CAESAR R. DULAY 051779

2 As adjusted using the 2010 Consumer Price Index values pursuant to RR No. 8-2021 dated June 11, 2021. : Sale of lot only, regardless of the price. shail be subject to VAT starting January 01, 2021 pursuant to RA No. 10963.

Bria Homes Plaride! page 2 of 2 Dote issued_JUN 0_g?^22 CTENo.B01-LF :.2) 2

OF THE CERTIFICATE OF TAX EXEMPTION TERMS AND CO . DITIONS

The exemption from income 'and creditable withholding taxes covers only income directly attributable to the revenues generated from the project, Bria Homes Plaridel-- Brgy. Lagundi, Plaridel, Bulacan, consisting of 812 house and lot units used solely for family home or dwelling

by Provisional License to Sell No. house and lot. purposes located at Brgy. Lagundi, Plaridel. Bulacan. Such exemption shall not cover revenues from units with selling price ex ceeding f shall not be sold for more than F Moreover, the 812 housing units covered 10 per

2. The enterprise shall observe tte follewing project timetable:

Site Preparation and Development Total Project Cost Building/House Construction Start of Commercial Operations Milestone Investiment Cost and Schedule June 2021 - November 2024 July 2021 - December 2024 Octoher 2021

3. In the computation of the project's ITH, interest incoine from in-house financing shall not be

considered as part of the revenues generated from the registered housing project.

4. The Company's entitlement to ITH for i:s 3OI-registered housing project is subject to the

compliance with the provisions of the Specific Terms and Conditions of its BOI Registration.

5. Pursuant to Secti - 4 of Republic Act (RA) No. 107083, the Company is required to file its tax

returns and pay its tax liabilities, on or before the deadline as provided under the Tax Code of 1997 as amended, using the electronic system for filing a-d payment of taxes of the BIR. It sh a!; file with BOI a compiete annual tax incentives report of i,: income-based tax incentives, VA'T and duty exemptions, deductions, credits or exclusions from the tax base, as may be provided under EO No 226, within the periods prescribed under RA No. 10708's Impiementing Rules and Regulations and Joint Memorandum Circular No. 1-2016 dated September 1, 2016.

6 The Company shall be constituted as a withholding agent'for the government if it acts as employer and any of its employees received compensation income subject to compensation withholding tax.

or if it makes payments to individuals or corporations subject to the withholding taxes as source as required under Chapter XIII and Section 57 of the Tax Code of 1997, as amended, and implemented by RR No. 2-98, as amended.

The Company is required to file on or before the 15th day of the fourth month following the close

of its accounting period of a Profit and Loss Statement and Balance Sheet with the Annual Information Return under oath, stating its gross inicome and expenses incurred during the taxable year.

8. Finally, the Company's books of accounts and other pertinent records shall be subject to periodic

examination by revenue enforcement officers of this Bureau for the purpose of ascertaining whether it is complying with the conditions under which it has been granted tax exemption or tax incentives and its tax liability, if any, pursuant to Section 235 of the Tax Code of 1997, as amended.

3 An Act Enhancing Transparency in the Manage Promotion Agencies. ment and Accounting of Tax Incentives Administered by Investment