BIR Ruling No. 407-2018

REPUBLIC OF THE PHILIPPINES

BUREAU OF INTERNAL REVENUE DEPARTMENT OF FINANCE

Quezon City

Certificate of Tax Exemption No. 407-2018

CERTIFICATE OF TAX EXEMPTION

issued to

Name of Seller TIN Address Kanejin Corporation 323-B Legaspi Towers 300 Roxas Blvd., Malate, Manila

: .-and.

Name of Homeowners Association (HOA) Tagumpay sa Mayon Homeowner's Association, Inc TIN Mayon St. Group I I, Payatas B. Quezon City 1119 Address

O1, 20 I 5 over a parcel of land described below, to wit; This certifies that the Deed of Absolute Sale entered by the Seller and the HOA dated October

Transfer Certificate of Title (sq.m. Area Transferred (s.m.) Area of CMP (sq.m. Mayon St., Group 2, Area B. Brgy. Payatas, Quezon City Location

being a Community Mortgage Program (CMP)', is not subject to capital gains tax pursuant to Section 32 (b) of Republic Act (RA) No. 7279 or the Urban Development and Housing Act of 1992. The transaction is, however, subject to documentary stamp tax under Section 196 of the 1997 Tax Code, as amended.

Bureau. In this 'regard, this Certificate shall be presented to the Revenue District Office (RDO) concerned in order for the latter to issue the Certificate Authorizing Registration (CAR). The CAR shall only be issued after the submission of the requirements provided under Revenue Memorandum Order (RMO) No. 15-2003. not be construed as giving authority to the concerned Register of Deeds to effect transfer of the land title in the name of the buyer without the necessary certificate of authority to register issued by this It is, however, understood that this Certificate of Tax Exemption is never intended and shall

occupants of the property transferred under the CMP are qualified beneficiaries and therefore, the seller 27 (D)(5) the National Internal Revenue Code of 1997, as amended. is entitled to exemption from capital gains tax or iniome tax imposed under Sections 24 (D)(1) and/or The Bureau of Internal Revenue (BIR) shall conduct verification and post-audit that the actual

submitted. However, if upon investigation, the BIR ascertains that the facts are different, then this Certificate shall be considered null and void. This Certificate is being issued on the basis of the facts and documents as represented and

Issued this. day ofMAR 0 9 2018

lauomwe M

K-I-JAC Commissioner of Internal Revenue CAESAR R. DULAY 014217 I Shall be proportionately distributed to the association's qualified member-beneficiaries (See Annex)

F