BIR Ruling No. 652-2020

REPUBLIC OFTHE PHILIPPINES

BUREAU OF INTERNAL REVENUE DEPARTMENT OF FINANCE

Quezon City

Certificate of Tax Exemption No. BO1LH-0852-2B20

CERTIFICATE OF TAX EXEMPTION

TO WHOM IT MAY CONCERN:

: Taxpayer's Identification Number (TIN) creditable withholding tax on its income received directly in connection with its economic and March 4, 2020 or actual start of commercial operation/selling, whichever is earlier, but in no low-cost housing project, Amaris Homes Dasma Ph. 2, consisting of 1,061 house and lot units used solely for family home or dwelling purposes located at Brgy. Burol Main, Dasmarinias City, Cavite, a project duly registered with the Board of Investments (BOI) under case earlier that the date of registration of the project with the BOI, pursuant to Executive Order No. 226, otherwise known as the "Omnibus Investments Code of 1987" and Section 2.57.5(B)(2) of Revenue Regulations No. 2-98, as amended. Registration No. This certifies that CITIHOMES"BUILDER AND DEVELOPMENT,INC. with dated March 4,2020, for a period.of 4 yearsbeginningfrom is exempt from income tax and

apply to sale of house and lot and other residential dwellings' with selling price of not more below, or house and lot and other residential dwellings valued at P3, 199,200.00 and below, is as amended. Provided, however, that beginning January 1, 2021, the VAT exemption shall only VAT-exempt under Section 109(1)(P) of the 1997 National Internal Revenue Code (Tax Code), than Two Million Pesos (P2,000,000.00). Moreover, the sale by the Company of residential lots valued at P1,919,500.00 and

lot units), including those units used for commercial purposes such as leasing, retail stores. offices. etc., shall be subject to the applicable taxes under the 1997 Tax Code, as amended. registered with the BOI, (per HLURB License to Sell No. The sale, however, of house and lot units in excess of the 1,061 house and lot units the excess is 77 house and

applicable BIR rules and regulations and the Terms and Conditions stated at the back hereof. The Company is liable, however, for all other applicable taxes not discussed above. The grant of tax exemption herein is subject to the compliance with the provisions of

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 documents

Issued this day of DEC0 2 2020

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K-1 Commissioner of Internal Revenue CAESAR R.DULAY

038155

' Sale of lot only. regardless of the price. shall be subject to VAT starting January 1. 2021 pursuant to RA No. 10963. L