BIR Ruling No. 550-2020

REPUBLIC OFTHE PHILIPPINES

DEPARTMENT OF FINANCE BUREAU OF INTERNAL REVENUE

Quezon City

Certificate of Tax Exemption No. CMP-0550-2020

CERTIFICATE OF TAX EXEMPTION

issued to

Corazon R. Benito and Rosario R. Joson Ma. Teresa R. Yambao represented by Name of Selle TIN 3 Oakvine , White Plains, Quezon City Address

-and

Association Inc. Villa Sta. Arcadia HIl Name of Homeowners Association (HOA) Homeowners TIN Purok 1, Brgy. Sta. Arcadia, Cabanatuan City Nueva Ecija 3 100 Address

over a parcel of land described below, to wit; This certifies that the Deed of Absolute Sale entered by the Seller and the HOA dated Apri! 15, 2019

Certificate of Title Transfer (sq.m.) Area Transferred (sq.m.) Area of CMP (sq.m.) Location

Brgy. Sta. Arcadia, Cabanatuan

City

being a Community Mortgage Program (CMP), is not subject to capital gains tax pursuant to Section 32 (b) of Republic Act (R A) No. 7279 or the Urban Development and Housing Act of 1992. The transaction is, however, subject to documentary stamp tax under Section 196 of the 1997 Tax Code, as amended.

construed as giving authority to the concerned Register of Deeds to effect transfer of the land title in the name of the buyer without the necessary certificate of authority to register issued by this Bureau. In this It is, however, understood that this Certificate of Tax Exemption is never intended and shall not be

regard, this Certificaie shall be presented to the Revenue District Office (RDO concerned in order for the

submission of the requirements provided under Revenue Memorandum Order (RMO) No. 15-2003. latter to issue the Certificate Authorizing Registration (CAR). The CAR shall only be issued after the

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

Tax Code,as amended.

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 and submitted

Issued this day of SEP.2 3 2020

eeoMie A

K- Commissioner of Internal Revenue CAESAR R. DULAY 036510

Shall be proportionately distributed to ihe associations quatified member-beneficiaries (See Annex)