BIR Ruling No. 477-2020

REPUBLIC OF THE PHILIPPINES

BUREAU OF INTERNAL REVENUE DEPARTMENT OF FINANCE

Quezon City

Certificate of Tax Exemption No:

PSH-477-2020

CERTIFICATE OF TAX EXEMPTION

TO ALL WHOM IT.MAY CONCERN:

creditable withholding tax (CWT) pursuant to Section 20 (d) (1) of Republic Act (RA) No. duly registered with the Housing and Land Use Regulatory Board (HLURB) under Certificate Rios, consisting of lots for residential and dwelling purposes to qualified beneficiaries in Boomtown Villa Dos of Registration No. said units does not exceed 180,000.00' per lot. Taxpayers Identification Number (TIN) 7279, as amended by RA No. 10884 (Balanced Housing Development Program Amendments) dated July 17, 2016, on its income received directly in connection with its sale of socialized This certifies that BOOMTOWN REALTY AND DEVELOPMENT CORP. with socialized lots, located at Brgy. Cupang Bauan, Batangas, a project and License to Sell No. , provided that the selling price of , is exempt from income tax and

exemption from VAT shall only apply to sale of house and lot and other residential dwellings? below, or house and lot and other residentiai dwellings valued at P3,199,200.00 and below, is Revenue Code of 1997, as amended. Provided, however, that beginning January 01, 2021, the exempt from value-added tax (VAT) pursuant to Section 109 (1) (P) of the National Internal with selling price of not more than P2,000,000.00. Moreover, the sale by the Company of residential lot valued at P1,919,500.00 and

conveying the properties shall be subject to DST imposed under Section 196 of the National being covered by RA No. 7279, shall be subject to the payment of appropriate taxes. covered by the tax exemption clause in Section 20 of RA No. 7279. Thus, the documents Internal Revenue Code of 1997, as amended, based on the consideration contracted to be paid the same Code, whichever is higher. Likewise, lots/units classified as Economic Housing, not for such realties or on their fair market value determined in accordance with Section 6 (E) of It is observed, however, that documentary stamp tax (DST) is not one of the taxes

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. The grant of tax exemption herein is subject to the compliance with the provisions of

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

Issued this day of AUG 2 0 2020

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K-1-LMAT Commissioner of Internal Revenue CAESAR R.DULAY 036390

2 Sale of lot only, regardless of the price, shall be subject to VAT starting January 01, 2021 pursuant to RA No. 10963. ! Per HLURB License to Sell No. dated May 25,2015