BIR Ruling No. 35-2018

REPUBLICOF THE PHILIPPINES

DEPARTMENT OF FINANCE

BUREAU OF INTERNAL REVENUE

Quezon City

Certificate of Tax Exemption No:

035-2018

CERTIFICATE OF TAX EXEMPTION

TO ALL WHOM IT MAY CONCERN:

This certifies that E.M. CUERPO, INC., (TIN: , is exempt from

project-related income taxes, creditable withholding tax and value added tax (VAT), pursuant to Section 20(d)(1) and (3) of Republic Act No. 7279, otherwise known as the "Urban

the construction/development of socialized housing units under the National Housing Development and Housing Act of 1992", on its income received directly in connection with

Authority (NHA)'s Yolanda Permanent Housing Program, to wit:

Project Name Date of Contract Date of Location No. of Socialized

Village 2 St. Francis EFebruary 20,2017 Contract Price May 23, 2016 Notice of Award Tacloban City Brgy. Suhi, Housing Units subject of Tax Exemption

is an indirect tax which can be passed on by the seller of the goods/services. It shall be VAT, even if the said purchases are to be used for the socialized housing project, since VAT understood that E.M. CUERPO, INC. must issue VAT-exempt official receipt$ on its gross receipts from the said socialized housing project. However, the purchases of goods/articles by E.M. CUERPO, INC. shall be subject to

NHA-over the parcels of land described below, to wit: Moreover, the Deed/s of Absolute Sale executed by the Landowners in favor of the

December 6, December 6, 2016 2016 Absolute Deed of Date of Sale Heirs of Heirs of Magallon Magallon? Buenaventura Buenaventura Landowner/ Name of Seller Certificate of Title (OCT/TCT) No. Original/Transfer Area (sq. m.) Transferred (sq. m) Area Tacloban City Tacloban City Cabalawan, Cabalawan, Location Barrio of Barrio of

1 Felomina Magallon-Bolante,Dominga Magallon-Mamites,Heirs of Concepcion Magallon-Leuterio Lilibeth L. Yasay and Elma Leuterio), Heirs of Miguela Magallon-Balunan (Gerardo B. Magallon, Amorsola B. Lada and Mary Ann B. Durana), and Heirs of Alfredo V. Magallon (Leni M. Leanio, Liza M. Ondes and Alexander Magallon. 2 Ibid

035-2018

1-24-2018

E.M.CUERPO,INC. Page2 of 2

capital gains tax/expanded withholding tax and documentary stamp tax pursuant to Sections 19 and 20 of Republic Act (RA) No. 7279. which shall be used for the above-mentioned socialized housing project, are not subject to

intended, and shall not be construed, as giving authority to the concerned Register of Deeds to] presented to the Revenue District Office (RDO) concerned in order for the latter to issue the effect transfer of the land titles in the name of the buyer without the necessary Certificate Authorizing Registration (CAR) issued by this Bureau. In this regard, this CTE shall be CAR. It is, however, understood that this Certificate of Tax Exemption (CTE) is never

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 ofJAN 2 4 2U18

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K-1 Commissioner of Internal Revenue CAESARR.DULAY 012766