BIR Ruling No. 313-2022

REPUBLICOFTHE PHILIPPINES

BUREAU GF INTERNAL REVENUE DEPARTMENT OFFANCE Quezon City

Certificte of Tax Exemption No. NSH-F3132022

CERTIFICATEOFTAXEXEMPTION

TO WHOM IT MAY CONCERN

Th. certifies that ZEPHYR CONSTRUCT PHILIPPINES,INC.is exempt from project-related income taxes and creditable withholding tax pursuant to Section 20 d1 of Republic Act (RA No.7279,as amended by RA No.10884(Balanced Housing Development

the construction of. The Guardian Hill Subdivision a socialized housing project of the Program Amendmentsdated July 17,2016,on its income received direcly in connection with Nationa Housing Authority (NHA developed th rh the Community Association Initiative

at Upper London, Brgy. Bawing, Siguil, General Santos City, South Cotabato. Approach under the AFP-PNP Housing Program consisting of 1,000 housing units,located

tax VAT) pursuant to Section 109(1)(P) of theNstional Internal Revenue Code of 1997 (Tax house and lot package;provided furtherthat beginning January 01,2021, the exemption from of not more than P3,199,200.00.3 Code,as amended,provided that the selling price thereof does not exceed P3,199,200.00 per VAT shall only apply to sale of house and lot and other residential dwellings with selling pce Moreover, the delivery of the 1,000 housing units shall be exempt from value-added

receipts from the said socialized housing project. passed on by the seller of the goods/services. It shall be understood that ZEPHYR CONSTRUCT PHILIPPINES,INC.must issue VAT-exempt official receipts on its gross PHILIPPINES,INC.shall be subject to VATeven if the said purchases are to be used for the above-mentioned socialized housing project, since VAT is an indirect tax which can be Howeverthepurchasesofgoods/articlesbyZEPHYRCONSTRUCT

documents as represented and submitted.Hvever, if upon investigation, the BIR ascertains that the fats 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

Icsued this : day of JUN 2 7 202Z

NaaNwa

Commissioner of Internal Revenue CAESARR.DULAY AD 052016 K

3 As adjusted using the 2021 Consumer Price ndex values per Revenue Regulations RRNo.8-2021dated June 11,2021 2 Sale of lot only,regardless of the price,shall be subject toVAT starting January 01,2021 pursuant to RA No.10963 1 As per Certification issued by the NHA datedMarch 21, 2022