BIR Ruling No. 286-2020

REPUBLICOFTHE PHILIPPINES

DEPARTMENT OF FINANCE BUREAU OF INTERNAL REVENUE

Quezon City

Certificate of Tax Exemption No:

PSH-0286-2020

CERTIFICATE OF TAX EXEMPTION

TO ALL WHOM IT MAY CONCERN:

Number (TIN) residential and dwelling purposes to qualified beneficiaries in Bellavita -- Lipa, consisting of 802 house and lot units, located at Brgy. Anilao, Lipa City, Batangas, a project duly registered income received directly in connection with its sale of socialized house and lot units for with the Housing and Land Use Regulatory Board (HLURB) under Certificate of Registration (CWT) pursuant to Section 20 (d) (1) of Republic Act (RA) No. 7279, as amended by RA No. 10884 (Balanced Housing Development Program Amendments) dated July 17, 2016, on its 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.

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

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

for such realties or on their fair market value determined in accordance with Section 6 (E) of the same Code, whichever is higher. Likewise, lots/units classified as Economic Housing, not being covered by RA No. 7279, shall be subject to the payment of appropriate taxes.

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

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

documents as represented and submitted. However, if upon investigation, the BIR ascertains This Certificate of Tax Exemption is being issued on the basis of the facts and

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

Issued this day of MAY 2 6 2020

aana

CAESAR R. DULAY

K-1-LMAT Commissioner of Internal Revenue Y 035082

2 Per HLURB License to Sell No.28907 dated March 11,2014. Formerly: South Maya Ventures Corporation 3Sale 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-Lipa) CTE No.: Date issued: PSHAH XTAY 2 6 2020 1286-2020

OF THE CERTIFICATE OF TAX EXEMPTION TERMS AND CONDITIONS

The exemption from income and creditable withholding taxes covers only income directly attributable to the revenues generated from the 802 socialized house and lot units in Bellavita - Lipa, located at Brgy. Anilao, Lipa City, Batangas.

2 The developer shall submit the sworn statement of the buyer that he is eligible as a socialized

of Internal Revenue (BIR) during the processing of the Certificate Authorizing Registration (CAR) for the transfer of the title of the socialized housing unit. housing beneficiary under Section 5 (A) of Revenue Regulations (RR) No. 11-97 to the Bureau

3. Iit is understood that the CAR shall oniy be issued after it is estabiished upon proper verification

this case does not really exceed P450,000.00. 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

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