BIR Ruling No. 423-2021

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

Certificate of Tax Exemption No:

(s 23.2

CERTIFICATE OF TAX EXEMPTION

TO ALL WHOM IT MAY CONCERN:

up in Bistekville-13, a socialized housing project of the Quezon City Government under the Settler Families (ISFs), located at Brgy. Bagbag, Quezon City. CORPORATION, an entity engaged by the Quezon City Government (LGU-QC), is exempt from project-related income taxes/creditable withholding tax. (CWT) pursuant to Section 20 (d) (l) of Republic Act (RA) No. 7279, as amended by RA No. 10884 (Balanced Housing Development Program Amendments) dated July 17, 2016. on its income received directly in connection with the acquisition of 102 socialized housing units of three-storey walk- Quezon City Government's Socialized "Housing Program intended for qualified Informal This certifies that TRM CONSTRUCTION & DEVELOPMENT

be exempt from value-added tax (VAT) pursuant to Section 109 (1) (P) of the National Internal residential dwellingsl with selling price of not more than P3.199,200.002. Revenue Code (Tax Code) of 1997, as amended, provided that the selling price thereof does not exceed P3.199.200.00 per house and lot package; provided further, that beginning January 01. 2021," the exemption from VAT shall'only appiy to sale of house and lot and other Moreover, the acquisition of 102 socialized housing units of three-storey walk-up shall

can be passed on by the seller of the goods/services. It shall be understood that TRM CONSTRUCTION & DEVELOPMENT CORPORATION must issue VAT-exempt officia} be used for the above-mentioned socialized housing project. since VAT is an indirect tax which DEVELOPMENT CORPORATION shall be subject to VAT, even if the said purchases are to receipts on its gross receipts from the said socialized housing project. However. thepurchases of goods/articles by TRM CONSTRUCTION &

submitted. However. if upon investigation, the BIR ascertains that the facts are different. then this Certificate shall be considered nutl and void. This CTE is being issued on the basis of the facts and documents as represented and Issued this day of_NOV 1:32

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Commissioner of Internal Revenue CAESAR R. DULAY

KI/<pt 1n77 04714:

2 As adjusted using the 2010 (onsumer rrice Index values pursuant to Revenuc Regulations No. 8-2021 dated +Sale of tot only. regardless of the price. shall be subjcct to VAT starting January 01. 202 pursuant to RA No. 10963. June 11. 2021