BIR Ruling No. 65-2018

iiEPLI;LIC Ji THE PTiILi!FINES DEPaRTi'iEl{T OF FIiiA ifCE BUR.EAU OF INTER.I$Ai. RT\IENUE Qiiezon Citl Certi{icatie of Tax Exemption No: -. 1: -._ , ? _. - ,@.:- CERTIFNCATE OF. TAX EXEI\fP'T'TON TO ALL \\'HOhI trT N44\ CO]\CERI{: Tiris certifles tilai TFi"E liE\4'APEC DEVELOP&IENT CORPORATIGN. n'itir Tax iiientification Number is exelrpi from income lax and creditable r.vitirholding tax on its income received directlf in conlectioir n'itli its economic and lou -cos1 housing pro.ject. Boston F{eights Phase 2. consistiirg oi298 units located at Brg1. Toclong. Kau it. Cai'ite. a project cir-r11 regisieied rvitil the Board of lnvestments lBCI) undel R.ecistration No. dated Februan'3. 1016" for a period of 3 \,ears beginning from N{arch 20tr6 oL aciuai stan ol comfiercial operations/seliing. q'iriche-.'er is eai'ii*r. b'irt in no case earher tiran the date oi regisration of tire project uitir the BC)tr, pr-rrsuant to Er.ecutire Crcier No. 116. otheru'ise lincu'n as ihe "(Jmnibus lnvestmenis Cocle ol 1987" al,i Section 1.,{7.-i tB)ll) oi Rer enue R-eguiatiotrs Nc. l-48. 3:, :ullerldL'd. hlorcorer" the sali or the Companv ol residential iot lalued a'r" F1.919.5U0.00 anci below. or liouse and lot and otlrer residential ciu,ellingsl'alued at P3.199.100.00 anci belor."" is VA-l--ereinpi uirder Section 109(1XP) of tl-re 1997 l'ax CoCe- as arnenied. The griiur of tax exemption herein is sub-ject t"r tire comp,liance r','ith the ilorisions of applicable BtrR mles and regLilations andthe Telms ancl Conditiorrs srated at ihe bacl' heteol-. -l-hc Company' is liab1e" hcu"ever. to all othel appiicable taxes no. eniinrelated zrbcvr'. Tiris Certii'lclte oi -far Exemption is bcing issr-iecl on the basis of ihe titcts aii.i clocrLurents as l'epresL-uted and subniittecl. Hol'n'evcl'" if r-rpon inr':stigation. the Bil{ ascettains thart tiic lacis aie ciiltreni. then tiris C'ertificate shali be :onsidereci nLrll anci void. Issi-reci tl.ris day or' l{ : rji Z 'r&.-:' ijir .f A - CAtrSAR R" DULAY Co:nmissiolrt--r- , ,r intern:,iI ReverlLre {i( t_r,-:rilZ