BIR Ruling No. 656-2020

REPUBLIC OF THE PHILIPPINES

DEPARTMENT OF FINANCE

BUREAU OF INTERNAL REVENUE

S Quezon City

Certificate of Tax Exemption No:

NSH-0656-2020

CERTIFICATE OF TAX EXEMPTION

TO ALL WHOM IT MAY CONCERN:

This certifies that the Memorandum of Agreement dated March 3, 2020 made and executed by and among the National Housing Authority (NHA), Bilrey Construction, and Kristoffee Heights Homeowners Association, Inc. for the acquisition of 1,412 developed lots and completed housing units in Kristoffee Heights, a socialized housing project of the NHA under its Community-Based Initiative Approach intended for the qualified beneficiaries of informal settler families affected by the 8.2 Segment Project of the Department of Public Work and Highways, located at Brgy. Calubcob, Naic, Cavite, to be undertaken by Bilrey Construction, is not subject to capital gains tax (CGT)/income tax/creditable withholding tax(CWT), documentary stamp tax (DST) and value-added tax (VAT) pursuant to Sections 19 and 20'of Republic Act (RA) No.`7279 and Section 109 (1) (P) of the National Internal

Revenue Code (Tax Code).of 1997, as amended.

of the NHA over the parcel of land described below, to wit: Moreover, the Unilateral Deed of Absolute Sale executed by the Landowners in favor

Date Name of Landowners Certificate (TCT) No. Transfer of Title (Sq. m.) Area Transferred (Sq, m.) Area Location

Oct. 05. 2020 2. Mila R. Estuar; and 3.Edita R. Estuar. 1. Fiorello R. Estuar, married to Flor L. Estuar; Naic, Cavite Calubcob. Brgy.

Section 109 (1) (P) of the Tax Code of 1997, as amended. which shall be used for the above-mentioned socialized housing project is not subject to CGT/income tax/CWT, DST and VAT pursuant to Sections 19 and 20 of RA No. 7279 and

Furthermore, the Deeds of Absolute Sale (DOAS) executed by and between the Landowners and Bilrey Construction over the parcels of land described below, to wit:

Date Name of Landowners (TCT) Nos. Certificate Transfer of Title (Sq. m.) Area Transferred (Sq. m.) Area Location

Aug. 25. 2020 Loida I. Viado, married to Emiliano Viado, Jr. Naic,Cavite Calubcob, Brgy.

Aug. 25. 2020 Luis V. Novero, married to Rosario Novero Naic.Cavite Calubcob, Brgy.

which shall also be used for the above-mentioned socialized housing project is not subject to CGT/income tax/CWT,and VAT pursuant to Section 20 of Republic Act (RA) No.7279 and

BILREY CONSTRUCTION CTE No.: NSH -:G55-202Q (Kristoffee Heights) Date issued: DEC 0 2 2020

consideration contracted to be paid for such realties or on their fair market value determined in Section 109 (1) (P) of the Tax Code of 1997, as amended. However, such DOAS are subject to DST imposed under Section 196 of the Tax Code of 1997, as amended, based on the accordance with Section 6 (E) of the same Code, whichever is higher.

(RD) to effect transfer of the land titles in the name of the buyer without the necessary intended and shall not be construed as giving authority to the concerned Register of Deeds It is, however, understood that this Certificate of Tax Exemption (CTE) is never

Certificate Authorizing Registration (CAR) issued by this Bureau. In this regard, this CTE together with the documentary requirements provided under Revenue Memorandum Order (RMO) No. 15-2003, shall be presented to the Revenue District Office.(RDQ) concerned in order for the latter to issue the CAR.

applied or are being applied to a socialized housing project pursuant to RA No. 7279. the concerned RD having jurisdiction over the property, to the effect that the same are to be Upon application for exemption, a lien on the titles of the land shall be annotated by

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

Issued'this day of DEC 0 2_20201

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$KI-LMAT Commissioner of Internal Revenue CAESAR R. DULAY 038161 O

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