BIR Ruling No. 324-2018

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BUREAU OF INTERNAL REVENUE REPUBLIC OF"THE PHILIPPINES DEPARTMENT OF FINANCE Quezon City

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Certificate of Tax Exemption No. 324-2018

CERTIFICATE OF TAX EXEMPTION AL

TO ALL WHOM IT MAY CONCERN:

between: This certifies that the Deed of Absolute Sale dated May 16, 2016, entered into by and

Amor De Lara Fortich Sellers/Landowners Carlos O. Fortich Name of TIN Casino Portich Diant Cassava Chip. Kasisang, Malaybalay, Bukidnon Address

-and-

Homneowners Association, Inc. Name of Homeowners Amor De Lara Fortich Association (HOA) TIN Purok 3, Brgy. San Juan, Gingoog City Address 9014 over two parcels of land described below, to wit:

Certificate of Title (OCT) No) Original Total Area (sq. m.) Transferred (sq. m.) Area (sq. m.) Area of CMP Location

City of Gingoog

being a Community Mortgage Program (CMP)', is not subject to capital gains tax and value- added tax (VAT) pursuant to Section 32 (b) of Republic Act (RA) No. 7279 and Section 109 is subject to documentary stamp tax (DST) under Section 196 of the same Code. (1) (P) of the National Internal Revenue Code of 1997, as amended. However, the transaction

shall not be construed as giving authority to the concerned Register of Deeds to effect transfer (CAR). The CAR shall only be issued after the submission of the requirements provided under Revenue Memorandum Order (RMO) No. 15-2003. of the land title in the name of the buyer without the necessary certificate of authority to register issued by this Bureau. In this regard, this Certificate shall be presented to the Revenue District Office (RDO) concerned in order for the latter to issue the Certificate Authorizing Registration It is, however, understood that this Certificate of Tax Exemption is never intended and

' Shall be proportionately distributed to the association's qualified member-beneficiaries (See Annex)

AMOR DE LARA FORTICH HOMEOWNERS ASSOCIATION, INC.

actual occupants of the property transferred under the CMP are qualified'beneficiaries and therefore, the seller is entitled to exemption irom capital gains tax or income tax imposed under Sections 24 (D)(1) and/or 27 (D)(5) the National Internal Revenue Code of 1997, as amended. The Bureau of Internai Revenue (BIR) shall conduct verification and post-audit that the

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 is being issued on the basis of the facts and documents as represented

ssued this day of MR218

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CK-I-LMAT Commissioner of Internal Revenue CAESAR R.DULAY 014080

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