BIR Ruling No. 597-2019

REPUBLIC OF THE PHILIPPINES

DEPARTMENT OF FINANCE

W BUREAU OF INTERNAL REVENUE Quezon City

Certificate of Tax YO ption No:

CERTIFICATE OF TAX EXEMPTION

TO ALL WHOM IT MAY CONCERN:

withholding tax on its income received directly in connection with its economic and low-cost housing project, Lessandra San Pablo- Brgy. San Jose, San Pablo, Laguna consisting of March 2018 or actual start of commercial operations/selling, whichever is earlier, but in no case earlier than the date of registration of the project with the BOI, pursuant to'Executive Identification Number (TIN) Jose, San Pablo, Laguna, a project duly registered with the Board of Investments (BOI) under Order No. 226, otherwise known as the "Omnibus Investments Code.of 1987" and Section 2.57.5 (B) (2) of Revenue Regulations (RR) No. 2-98, as amended. 427 house and lot units used solely for family home or dwelling purposes, located at Brgy. San Registration No. This certifies that COMMUNITIES BATANGAS, INC. with Taxpayers dated March 26, 2018, for a period of 3 years beginning from , is exempt from income tax and creditable

amended. Provided, however, that beginning January 01, 2021, the VAT exemption shall only 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) of the National Internal Revenue Code of 1997, as apply to sale of house and lot and other residential dwellingst with selling price of not more than P2,000,000.00. Moreover, the sale by the Company of residential lot valued at P1,919,500.00 and

purposes, shall be subject to the payment of appropriate taxes under the National Internal registered with the BOI, if any, including those house and lot units used for commercial Revenue Code of 1997, as amended. However, the sale of house and lot units in excess of the 427 house and lot units

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

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

Issued this day of OCT 11.2019

1eegamrea

Commissioner of Internal Revenue CAESAR R.DULAY

K-1-MDT 029564

Sale of lot only. regardless of the price, shall be subject to VAT starting January O1,2021 pursuant to RA No.

10963