BIR Ruling No. 404-2018

BUREAU OF INTERNAL REVENUE REPUPLICOE THE PHILIPPINES DEPARTMENT OF FINANCE Quezon City

Certificate of Tax Exemption No: 404-2018

CERTIFICATE OF TAX EXEMPTION

TO ALL WHOM IT MAY CONCERN:

housing project, Arezzo Place Davao -- Dona Pilar Avenue, Brgy. Pampanga, Buhangin Identification Number Dist., Davao City, consisting of 1,080 units located at Dona Pilar Avenue, Brgy. Pampanga, Buhangin Dist., Davao City, a project duly registered with the Board of Investments (BOI) from December 2016 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 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, withholding tax on its income received directly in connection with its economic and low-cost under Registration No. This certifies that PHINMA PROPERTY HOLDINGS CORPORATION, with Tax dated December 14, 2016, for a period of 3 years beginning is exempt from income tax: and creditable :

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 1997 Tax Code, as amended.. Moreover, the sale by the Company of residential lot valued at P1,919,300.00 and

units and 295 parking slots, are not covered by this Certificate of Tax Exemption and shall be subject to applicable taxes under the 1997 Tax Code, as amended. The sale of residential units in excess of the 1,080 units, as well as the 3 commercial

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

documents as represented and submited. 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

Issued this day of HAR 0 9 2018

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K-1-JAC Commissioner of Internal Revenue CAESAR R. DULAY 014230

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