BIR Ruling No. 542-2017

BUREAU OF INTERNALREVENUE REPUBLICOF THE PHILIPPINES DEPARTMENT OF FINANCE Quezon City

Certificate of Tax Exemption No. 542-2017

CERTIFICATE OF TAX EXEMPTION

issued to

Rufina P.Lopez m/t Dominador A. Lopez Name of Seller TI Executive Homes Lanang,Davao City Address

-and Name of Homeowners Association (HOA) Sto. Ninio Grande Homeowners Association Inc. TIN Sitio Catalunan Grande. Davao City Address 8000

2016 over a parcel of land described below, to wit: This certifies that the Deed of Absolute Sale entered by the Seller and the HOA dated June 21

Transfer Certificate of Title (sq.m. 51, 524 Area Transferred 24, 528 (sq.m. Area of CMP (sq.m.) 24, 528 Sitio GuadalupeCatalunan Grande Davao City Location

being a Community Mortgage Program (CMP)', is not subject to capital gains tax pursuant to Section 32(b of Republic Act (RA) No.7279 or the Urban Development and Housing Act of 1992.The transaction is,however,subject to documentary stamp tax under Section 196 of the 1997 Tax Code, as amended.

not be construed as giving authority to the concerned Register of Deeds to effect transfer of the land title in the name of the buyer without the necessary certificate of authority to register issued by this Bureau. In this regard, this Certificate shall be presented to the Revenue District Office RDO concerned in order for the latter to issue the Certificate Authorizing Registration (CAR.The CAR shall only be issued after the submission of the requirements provided under Revenue Memorandum Order RMONo.15-2003. It is, however, understood that this Certificate of Tax Exemption is never intended and shall

occupants of the property transferred under the CMP are qualified beneficiaries and therefore, the seller 27 (D)(5) the National Internal Revenue Code of 1997, as amended. is entitled to exemption from capital gains tax or income tax imposed under Sections 24(D1 and/or The Bureau of Internal Revenue (BIR shall conduct verification and post-audit that the actual

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

Issued this day of NOV 2 2017

raeromwe

K-1-JAC Commissioner of Internal Revenue CAESAR R.DULAY 011288

' Shall be proportionately distributed to the association's qualified member-beneficiaries (See Annex)