BIR Ruling No. 278-2020

1a BUREAU OF INTERNAL REVENUE REPUBLIC OF THE PHILIPPINES DEPARTMENT OF FINANCE

Quezon City

Certificate of Tax Exemption No:

PSHn273 -2020

CERTIFICATE OF TAX EXEMPTION TO ALL WHOM IT MAY CONCERN:

of 1,792 house and lot units, located at Brgy. Alupay,Rosario,Batangas, a project duly CWT) pursuant to section 20 a)(1) of Republic Act (RA) No. 7279, as amended by RA No. income received directly in connection with its sale of socialized house and lot units for registered with the Housing and Land Use Regulatorv Board (HLURB) under Certificate of Number (TIN) 10884Balanced Housing Development Program Amendments) dated July 17, 2016, on its residential and dwelling purposes to qualified beneficiaries in BellavitaRosario, consisting units does not exceed P480,000.002 per house and lot. Registration No. This certifies that RELLAVITA LAND CORP. with Taxpayers Identification and License to Sell No. is exempt from income tax and creditable withholding tax ", provided that the selling price of said

below, or house and lot and other residentiai dwellings valued at P3, 199,200.00 and below, is exemption from VAT shall only apply to sale of house and lot and other residential dwellings3 exempt from value-added tax (VAT) pursuant to Section 109 (1) (P) of the National Internal Revenue Code of 1997, as amended. Provided, however, that beginning January 01, 2021, the 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

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 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. Internal Revenue Code of 1997, as amended, based on the consideration contracted to be paid 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_MAY 2 6 2020

1aecra

K-1-LMAT Commissioner of Internal Revenue CAESAR R.DULAY b 035078

3 Sale of lot only, regardless of the price, shall be subject to VAT siarting January 01, 2021 pursuant to RA No. 10963. Formerly: South Maya Ventures Corporation Per HLURB License to Sell No. 033909 dated August 24, 2018.

(Bellavita -- Rosario) BELLAVITA LAND CORP Date issued: CTE No.: PSH-1278-2020 MAY 2 62020

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 1,792 socialized house and lot units in Bellavita Rosario, located at Brgy. Alupay, Rosario, Batangas.

2 The developer shall submit the sworn statement of the buyer that he is eligible as a socialized housing beneficiary under Section 5 (A) of Revenue Regulations (RR) No. 11-97 to the Bureau of Internal Revenue (BIR during the processing of the Certificate Authorizing Registration (CAR) for the transfer of the title of the socialized housing unit.

3. It is understood that the CAR shall only be issued after it is established upon proper verification

by the Revenue District Officer (RDO) concerned that, considering the rules on valuation of real property, the actuai seiling price per sale transaction of the socialized house and lot packages in this case does not really exceed P480,000.00.

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