BIR Ruling No. 393-2021

BUREAU OF INTERNAL REVENUE REPUBLIC OF THE PHILIPPINES DEPARTMENT OF FINANCE

DT Quezon City

Certificate of fax Exemption No:

BOI-LEH - 3 9 3 - 2 0 21

CERTIFICATE OF TAX EXEMPTIOM TO ALL WHOM IT MAY CONCERN:

Investments Code of 1987 and Section 2.57.5 (B) (2) of Revenue Regu lations (RR) No. 2-98, BOI, pursuant to Executive Order (EO) No. 226, otherwise kno:vn as "the "Omnibus housing units used solely for family home or dwelling purposes, focated at Brgy. Canlubang, whichever is earlier, but in no case earlier than the date of registration of the project with the as amended. income received directly in connection with its low-cost mass hou>ing project (vertical). Calamba City, Laguna, a project duly registered with the Board of Ins estments (BOI) under Certificate of Registration (COR) No. (4) years beginning from February 2015 or actual start of commercial operations/selling, Amaia Steps Nuvali -- Brgy. Canlubang, Calamba City, Laguna, consisting of 1,1402 (TIN) This certifies that AMAIA LAND CORP.', with Taxpay er !dentification Number -000, is exempt from income tax and creditab!e vithholding tax on its dated February 11, .2015, for a period of four

retail stores, offices, etc., shall be subject to the payment of appropria.e taxes under the Tax residential dwellings5 with selling price of not more than P3,199,20C.00.4 Housing and Land Use Regulatory Board [HLURB], the excess is 300 nousing units), as well as the 239 parking slots, including those units used for commercial pur poses such as leasing, Code of 1997, as amended. 01, 2021, the exemption from VAT shall only apply to sale of house and lot and other Revenue Code (Tax Code) of 1997, as amended. Provided, however, that beginning January the BOI (per License to Sell Nos. below, or house and lot and other residentiai dwellings valued at P3. 19 ,200.00 and below, is exempt from value-added tax (VAT) pursuant to Section 109 (1) (P) of the National Internal However, the sale of housina nnits in excess of the 1,140 hot sing units registered with Moreover, the sate by the Company of residential lot valued at P1,919,500.00 and 5 [600 units] and . [840 units] both issued by the

that tl:e facts are different, then this Certificate shall be considered nu!l and void. applicable BIR rules and regulations and the Terms and Conditions sta.ed at the"back hereof. documents as represented and submitted. However, if upon investig ation, the BIR ascertains The Company is liable, however, for all other applicable taxes not discussed above. Issued this This Certificate of Tax Exemption is being issued on th- basis of the facts and The grant of tax exemption herein is subject to the compliance with the provisions of day of.OCI1.8:

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+ As adjusted using the 2010 Consumer Price Index valtes per RR No. 8-2021 dated Jure I 1. 2 21. I Formerly: First Cominunities Realty. Ine. 2 Covered by License to Sell Nos. 3 Sale of lot only, regardless of the price, shall be sueject to VAT starting January 01. 20_1 p. rsuant to Republic Act (RA) K-1-MDT No. 10963. and Doth issued by the HLURB. Cornmissioner ot` Iniernal Revenue CAESAR R. DULAY )-. 637i

(Amaia Steps Nuvali) AMAIA LAND CORP. CTE NO.: Date issued. OCE1g2021 BO.-LEH-:3 9 3 - 2. Q 2 1

OF THE CERTIFICATE OF TAX EXEMPTION TERMS AND CONDITIONS

I. The exemption fre m income and creditable withholcing taxes covers only income directly revenues from units wi:h selling price exceeding P3.000.000.00. attributable to the re venues generated from the project, Amaia Steps Nuvali -- Brgy. Canlubang, Calamba City, Lag una, consisting of I,140 housing unit. used solely for family home or dwelling purposes, located a: Brgy. Canlubang, Calanba City, Laguna. Such exemption shall not cover

2. The Company is coligated to construct and sell 1,140 housing units based on the following schedules/sales reve nues:

Y car E (No. of Units) Volume 341 (P'000) Value

Inta ( 140 311 480 8

3 In the computation of the project's ITH. interest income from in-house financing shall not be considered as part of the revenues generated from the registered housing project.

4 The Company's ertitlement to ITH for its BOI-registered housing project is subject to the compliance with the provisions of the Specific Terms and Conditions of its BOI Retistration.

S Pursuant to Section 4 :f Republic Act (RA) No. 107085. the Company is requirea to file its tax returns and pay its tax l abilities. on or before the deadline as provided under the Tax Code of 1997, 226, within the pericds prescribed under RA No. 10708's Implementing Rules and Regulations and Joint Memorandum Circular No. 1-2016 dated September 1. 2016. as amended, using the etectronic system for filing and payment of taxes of the BIR. It shall file with BOI a complete anuual tax incentives report of its income-based tax incentives, VAT and duty exemptions, deductions. credits or exclusions from the tax base, as may be provided under EO No

6 The Company shall be constituted as a withholding agent for the government if it acts as employer

and any of its emple yees received compensetioa income subject to compensation withholding tax, or if it makes payme nts 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 nmended.

7. The Company is rec:uired to file on or before the 15th day of the fourih month foilowing the close of its accounting pariod of a Profit and Loss Statement and Balance Sheet' with the Annual Information Return tinder oath. stating its gross income and expenses incurred during the taxable year.

8 Finally, the Compat:y's books of accounts and other pertinent records shall be subject to per odic

and its tax liability. : f any, pursuant to Section 235 of the Tax Code of 1997. as amended. examination by revenue enforcement officers of this Bureau for the purpose of ascertaining whe ther it is complying with the conditions under which it has been gra' ited tax exemption or tax incenti ies

An Act Enhancing Transt tre:ty in tle Management and Accour ng of Tax Incentives Administered by Insestment Promotion Agencies.

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