BIR Ruling No. 482-2017

BUREAU OF INTERNAL REVENUE REPUBLIC OF THE PHILIPPINES DEPARTMENT OF FINANCE Quezon City

Certificate of Tax Exemption No: 82-2017

CERTIFICATE OF TAX EXEMPTION TO ALL WHOM IT MAY CONCERN:

below, or house and fot and other residential dwellings valued at P3, 199.200.00 and below. is VAT-exempt under Section 109(1)(P) of the National Internat Revenue Code of 1997. as 2.57.5 (B) (2) of Revenue Regulations (RR) No. 2-98, as amended. amended. case earlier than the date of registration of the project with the BOI. pursuant to Executive Order (EO) No. 226, otherwise known as the "Omnibus Investments Code of 1987" and Section Imus 9, Cavite, a project duly registered with the Board of Investments (BOl) under February 2017 or actual start of commercial operations/selling, whichever is earlicr, but in no Tradizo Enclave -- Anabu, Imus 9, Cavite, consisting of 380 housing units located at Anabu Registration No. received directly in connection with its econonic and low-cost housing project (horizontal). Moreover. the sale by the Company of residential fot valued at P1.919,500.00 and This certifies that RAEMULAN LANDS, INC. with Tax Identitication Number (TIN) is exempt from income tax and creditabie withholding tax on its income February 08, 2017. tor a period of 4 years beginning from

that the facts are different, then this Certificate shall he considered nufl and void. documents as represented and submitted. However, if upon investigation. the BIR ascertains applicabte BiR ruies and regutations and the Terms and C'onditions stated at the back hereof. The Company is tiable, however, for ail other applicable taxes not discussed above. Issued this. This Certificate of Tax Exemption is heing issued on the basis of the facts and The grant of tax exemption herein is subject to the compliance with the provisions of -. day of..0C1 19 2017

K Commissioner of Internal Reventie CAESAR R. DULAY 010047

(Trudizo Enclave) RAEMULAN LANDS, ING Date is ued_10m19m i7 CTE No. 482-2017

OF THE CERTIFICATE OF TAX EXEMPTION TERMS AND) CONDITIONS

The exenption from income and creditable withho!ding taxes covers only income directly attributable to the revenues generated from the project, Tradizo Enclave -- Anabu, Imus 9. Cavite, consisting of 380 housing units. located at Anabu. Hinus 9, Cavite. Such exemption shall not cover revenues from units with selling price exceeding P3.000.000.00.

N The Company is obligated to construct and sell 380 housing untts based on the following schedules/ sales revenues:

Year (No. of Units) Volume 150 0 Value (Php)

{ Ioa 38

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.

The Company's entilement to I'TH for its BOI-registered housing project is subject to the compliance with the provisions of the Specific Terms and Conditions of its BOI Registration.

S Pursuant to Section 4 of Republic Act (RA) No. 10708', the Company is required to fite its tax of taxes of the BIR. It shall file with BOl a complete annual tax incentives report of its income- base. as may be provided under EO No. 226. within the periods prescribed under RA No returns and pay its tax liabitities, on or before the deadline as provided under the Nationa! based tax incentives. VAT and duty exemptions, deductions. credits cr exclusions from the tax Internal Revenue Code of 1997. as amended, using the electronic sy'stem for tiling and payment 10708's Implementing Rules and Regulations and Joint Memorantun: Circular No. 1-2016 dated Seplenber l, 2016.

6. The Company shatl be constituted as a withholding agent for the government it it acis as enployer and any of its employees received compensaticn incoine subject to compensation withholding tax. or if it makes payments to irdividuals or corporations subject to the Internal Revenue Code of 1997, as amended. and impiemenied by RR No. 2-98, as amended. withholding taxes as source as required under Chapter X!ti ard Section 57 of the National

The Company is required to file on or before the 15% day of the fourth month foliowing the close of its accounting period of a Profit and Loss Statement and Ba!ance Sheet with the Anuual Information Return under oath. stating its gross income and expenses ineurred during the taxable year.

8 Finally, the Company's hooks ot accounts and other pertinent records shall be subject to exenption Or tax incentives and its tax fiability. it any. purs!ant to Section 235 of the National periodic examination by revenue enforcement officers of this Bureau for the purpose of ascertaning whether it is complying with the conditions under which it has been granted tax Internal Revenue Code of 1997, as aimended.

An Act Fnhancing Transparency in the Management and Accounting of Tax Incentives Administered by Investment Promotion Ageneies.

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