BIR Ruling No. 466-2021

VVTfa^ REPUBLIC OF THE PHILIPPINES DEPARTMENT OF FINANCE BUREAU OFINTERNAL REVENUE Quezon City Certificate of Tax Exemption No: IU'i-L"rH- ss - >02 CERTIFICATE OF TAX EXEMPTION TO ALL WHOM IT MAY CONCERN: This certifies that PRIMA CASA LAND & HOUSES, INt'. with Taxpayer Identification Number(TIN)i 000, is exempt from incomk tax and creditable withholding tax on its^ income received directly in connection with its ecmomic and low-cost housing project,Lumina Classic 2A -- Brgy.San Vicente,Sto. Tomas,uatangas,consisting of283 house and lot units used solely for family home or dwelling purposes, located at Brgy. San Vicente,Sto. Tomas,Batangas,a project duly registered with the Board ofInvestments (BOI)under Certificate ofRegistration No. dated December 6,2019,for a period of3 years beginning from December 2019 or actual start ofcommercial operations/selling, whichever is earlier, but in no case earlier than the date ofregistration ofthe project with the BOI, pursuant to Executive Order (EO) No. 226, otherwise known as the "Omnibus Investments Code of1987"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 P3,199,200.00 and below, is VAT-exempt under Section 109(1)(P)ofthe National Internal Revenue (fcode(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 of house and lot units in excess of the 283 house and lot units registered with the BOI, if any, 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 of1997,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 stated at the back hereof. The Company is liable, however,for all other applicable taxes not discussed above. This Certificate of Tax Exemption is being issued on the hasIS of the facts and 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. Issued this day of DEC 1 3 A<Vv CAESAR R.DULAY Commissioner ofInternal Revenue K-l IT"" "7 , "X I i' / J J Formerly: Lumina Homes,Inc. f Sale oflot only,regardless ofthe price,shall be subject to VAT starting January 01,2021 pursuant to RA No 10963. As adjusted using the 2010 Consumer Price Index values pursuant to RR No.8-2021 dated June I 1,2021