BIR Ruling No. 641-2020

BUREAU OF INTERNAL REVENUE REPUBLICCF THE~PHILIPPINES DEPARTMENT OF FINANCE Quezon City

Certificate-of.Tax,Exemption,No: Ps H1ub4X

CERTIFICATE OF TAX EXEMPTION

TO ALL WHOM IT MAY CONCERN:

house and lot package, located at Lumbia, Cagayan de Oro City, a project duly registered with Number (TIN) the Housing and Land Use Regulatory Board (HLURB) under Certificate of Registration No. exceed P480,000.00' per house and iot. (CWT) pursuant to Section 20 (d) (1) of Republic Act (RA) No. 7279, as amended by RA No. income received directly in connection with its sale of socialized house and lot package for residential and dwelling purposes to qualified beneficiaries in Southpoint 1, consisting of 96 i10884 (Balanced Housing Development Program Amendments) dated July 17, 2016, on its and License to Sell No. This certifies that LIBERTY LAND CORPORATION, with Taxpayers Identification , is exempt from income tax and creditable withholding tax , provided that the selling price of said units does not

exemption from VAT shall only apply to sale of house and lot and other residential dwellings2 with selling price of not more than P2,000,000.00. below, or house and lot and other residential dwellings valued at P3,199,200.00 and below, is exempt from value-added tax (VAT) pursuant to Section 109 (1) (P) of the National. Internal Revenue Code of 1997, as amended. Provided, however, that beginning January 01, 2021, the Moreover, the sale by the Company of residential lot valued at P1,919,500.00 and

being covered by RA No. 7279, shall be subject to the payment of appropriate taxes. applicable BIR rules and regulations and the Terms and Conditions stated at the'back hereof. covered by the tax exemption clause in Section 20 of RA No. 7279. Thus, the documents the same Code, whichever is higher. Likewise, lots/units classified as Economic Housing, not The Company is liable, however, for other applicable taxes not discussed above. for such realties or on their fair market value determined in accordance with Section 6 (E) of conveying the properties shall be subject to DST imposed under Section 196 of the National Internal Revenue.Code of 1997, as amended, based on the consideration contracted to be paid The grant of tax exemption herein is subject to the compliance with the provisions of It is observed, however, that documentary stamp tax (DST) is not one of the taxes

documents as represented 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 of Tax Exemption is being issued on the basis of the facts and Issued this day of _NOV 1 9 2028

eegoy N

K-1-LMAT Commissioner of Internal Revenue CAESAR R. DULAY 342

+ Per HLURB License to Sell No. 2 Sale of lot only, regardless of the price, shall be subject to VAT starting January 01, 2021 pursuant to RA No. 10963. dated November 15, 2018.

LIBERTY LAND CORPORATION (Southpoint 1) CTENo._ PSH - 1 G 4I -2O23 Date issued NOy T

TERMS AND CONDITIONS OF THE CERTIFICATE OF TAX EXEMPTION

The exemption from income, creditable withholding taxes and VAT covers only income directly attributable to the revenues generated from the 96 house and lot package, located at Lumbia. Cagayan de Oro City.

The developer shall submit the sworn statement of the buyer that he is eligible as a socialized

housing beneficiary under Section 5 (A) of Revenue Regulations (RR) No. 11-97 to the Bureau of Internal Revenue (BIR) during the processing of the Certificate Authorizing Registration (CAR) for the transfer of the title of the socialized housing unit.

3. It is understood that the CAR shall only be issued after it is established upon proper verification

by the Revenue District Officer (RDO) concerned that, considering the rules on valuation of real this case does not reaily exceed P480,000.00. property, the actual selling price per sale transaction of the socialized house and lot packages in

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