BIR Ruling No. 461-2021

^IPPl^ REPUBLIC OF THE PHILIPPINES DEPARTMENT OF FINANCE BUREAU OFINTERNAL REVENUE Quezon City Certificate <ff Tax Exemption No: - i S5 I - t 0 2 ^ CERTIFICATE OF TAX EXEMPTION TO ALL WHOM IT MAY CONCERN: This certifies that BRIA HOMES,INC.with Taxpayer Identfication Number(TIN) is exempt from income tax and creditable withhdlding tax on its income received directly in connection with its economic and low-cost housing project, Bria Flats Mactan BIdg. 3,4 and 5-Sugtongan, Basak, Lapu-Lapu City, Cebu,consisting of2^ residential units used solely for family home or dwelling purposes, located at Sugtongan, Basak,Lapu-Lapu City,Cebu,a project duly registered with the Boaird ofInvestments(BOI) under Certificate of Registration No. dated August 22, 21^19, for a period of 3 years beginning from August2019 or actual startofcommercial operait|ions/selling, whichever is earlier, but in no case earlierthan the date ofregistration ofthe project with the BOI,pursuant to Executive Order(EG) No. 226, otherwise known as the "Omnibus Investments Code of 1987" and Section 2.57.5(B)(2)ofRevenue Regulations(RR)No.2-98,as amended. Moreover, the sale by the Company of residential lot valued at PI,919,500.00 and below, or house and lot and other residential dwellings valued at P3,I99,200.00 and below, is VAT-exempt under Section 109(1)(P) of the National Internal Revemie Code (Tax Code) of 1997, as amended. Provided, however, that beginning January 01, 2021,the VAT exemption shall only apply to sale of house and lot and other residential dwellings'^ with selling price of not more than P3,199,200.00^. However,the sale ofresidential units in excess ofthe 2^ residential units registered with the BOI,ifany,including those units used for commercial purposes such as leasing, retail stores, offices, etc. shall be subject to the payment ofappropriate taxes under the Tax Code of 1997, as amended. the grant oftax exemption herein is subject to the compliance with the provisions of applicable BIR rules and regulations and the Terms and Conditions stHted at the back hereof, The Company is liable, however,for all other applicable taxes not discilissed above. This Certificate of Tax Exemption is being issued on the basis of the facts and documents as represented and submitted. However,ifupon investigation,the BIR ascertains that the facts are different, then this Certificate shall be considered null Md void. Issued this day of. ppp iMi�( K-l-GPS CAESAR R.DULAY Commissioner ofInternal Revenue is?? Formerly: Casa Regalia,Incorporated Sale oflot only,regardless ofthe price,shall be subjectto VAT starting January 01,2021 pursuant to RA No. 10963. As adjusted using the 2010 Consumer Price Index values pursuant to RR.^o!8-2021 dated Ju le 11,2021