BIR Ruling No. 393-2020

BUREAU OF INTERNAL REVENUE REPUBLIC OF THE PHILIPPINES DEPARTMENT OF FINANCE

Quezon City

Certificate of Tax Exemption No:

PSH-0393-2020

CERTIFICATE OF TAX EXEMPTION

TO ALL WHOM IT MAY CONCERN

residential and dwelling purposes to qualified beneficiaries in Bellavita Porac Phase 2, Number (TIN) (CWT) pursuant to Section 20 (d) (1) of Republic Act (RA) No. 7279, as amended by RA No. income received directly in connection with its sale of socialized house and lot units for consisting of 277 house and lot units, located at Brgy. Palat, Porac, Pampanga, a project duly 10884(Balanced Housing Development Program Amendments) dated July 17, 2016, on its registered with the Housing and Land Use Regulatory Board (HLURB) under Certificate of Registration No. This certifies that BELLAVITA LAND CORP.1 with Taxpayers Identification and License to Sell No. is exempt from income tax and creditable withholding tax , provided that the selling price of said

units does not exceed P450,000.002 per house and lot.

exempt from value-added tax (VAT) pursuant to Section 109 (1) (P) of the National Internal Revenue Code of 1997, as amended' Provided, however, that beginning January 01, 2021, the below, or house and lot and other residential dwellings valued at P3,199,200.00 and below, is Moreover, the sale by the Company of residential lot valued at P1,919,500.00 and

exemption from VAT shall only apply to sale of house and lot and other residential dwellings with selling price of not more than P2,000,000.00.

covered by the tax exemption clause in Section 20 of RA No. 7279. Thus, the documents It is observed, however, that documentary stamp tax (DST) is not one of the taxes

conveying the properties shall be subject to DST imposed under Section 196 of the National Internal Revenue Code of 1997, as amended, based on the consideration contracted to be paid for such realties or on their fair market value determined in accordance with Section 6 (E) of

being covered by RA No. 7279, shall be subject to the payment of appropriate taxes. the same Code, whichever is higher. Likewise, lots/units classified as Economic Housing, not

The grant of tax exemption herein is subject to the compliance with the provisions of applicable BIR rules and regulations and the Terms and Conditions stated at the back hereof.

The Company is liable, however, for other applicable taxes not discussed above.

This Certificate of Tax Exemption is being issued on the basis of the facts and

documents as represented and submitted. However, if upon investigation, the BIR ascertains

that the facts are different, then this Certificate shall be considered null and void.

Issued this day of_JUL 1 7 2020

1osay

CAESAR R.DULAY Commissioner of Internal Revenue K-1-LMAT 035893 X

Formerly: South Maya Ventures Corporation Per HLURB License to Sell No. 032691 dated May 28,2018.

Sale of lot only, regardless of the price, shall be subject to VAT starting January 01, 2021 pursuant to RA No. 10963.

BELLAVITA LAND CORP (Bellavita Porac Phase 2) CTE No.: Date issued: PSH039300202 JU 1T2ULU

TERMS AND CONDITIONS OF THE CERTIFICATE OF TAX EXEMPTION

1. The exemption from income and creditable withholding taxes covers only income directly attributable to the revenues generated from the 277 socialized house and lot units in Bellavita

Porac Phase 2, located at Brgy. Palat, Porac, Pampanga.

2 The developer shall submit the sworn statement of the buyer that he is eligible as a socialized housing beneficiary under Section 5 (A) of Revenue Regulations (RR) No. 11-97 to the Bureau

of Internal Revenue (BIR) during the processing of the Certificate Authorizing Registration (CAR) for the transfer of the title of the socialized housing unit.

3. It is understood that the CAR shall only be issued after it is established upon proper verification

by the Revenue District Officer (RDO) concerned that, considering the rules on valuation of real

property, the actual selling price per sale transaction of the socialized house and lot packages in

this case does not really exceed P450,000.00.

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