BIR Ruling No. 397-2022

REPUBLIC OF THE PHILIPPINES

BUREAU OF INTERNAL REVENUE DEPARTMENT OF FINANCE

Certificate of Tax Exemption No:

Bo{-LE+ 3 9 7 - 2 0 2 2

CERTIFICATE OF TAX EXEMPTION

TO ALL WHOM IT MAY CONCERN:

This certifies that HAUSPLUS VENTURES, INC, with Taxpayer Identification Number

directly in connection with its economic and low-cost housing project, Villano Ville 1 Butterfly Subdivision, consisting of 221 house and lot units used solely for family home or dwelling purposes, , is exempt from income tax and creditable withholding tax on its income received

Iocated at Brgy. Francisco Homes-Guijo, San Jose Del Monte, Bulacan, a proiect duly registered with the Board of Investments (BOI) under Certificate of Registration No. for a period of 4 years beginning from January 2022, or actual start of commercial operations/selling. Hated January 14, 2022

whichever is earlier, but in no case earlier than the date of registration of the project with the BOr pursuant to Executive Order (EO) No. 226, otherwise known as the "Omnibus Investments Code of 1987" and Section 2.57.5 (B)(2) of Revenue Regulations (RR) No. 2-98, as amended.

Moreover, the sale by the Company of 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 National Internal Revenue Code of 1997 (Tax Code), as amended. The sale of lot only, regardless of the price, shall be subject to VAT pursuant to RA No. 10963.

However, the sale of house and lot units in excess of the 221 house and lot units registered with the BOI, if any, including those units used for commercial purposes such as leasing, retail stores, offices. etc., is not covered by this Certificate of Tax Exemption and shall be subject to the payment of applicable taxes under the Tax Code, as amended.

The grant of tax exemption herein is subject to the compliance with the provisions of 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.

This Certificate of Tax Exemption is being issued on the basis of the facts and 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.

Issued this day of SEP 2 3_2022

Commissioner of Internal Revenue LILIA CATRIS GUILLERMO cMa b

001493 K-1-JAC

1 As adjusted using the 2010 Consumer Price Index values pursuant to RR No. 8-2021 dated June 11, 2021

Hausplus Ventures, Inc. Page 2 of 2 CTE No.BO1-LEH- 3 9 7 '- 2 0*2 2 Date issued "SEP_2 3_2022

OF THE CERTIFICATE OF TAX EXEMPTION TERMS AND CONDITIONS

Y The exemption from income and creditable withholding taxes covers only income Monte, Bulacan. Such exemption shall not cover revenues from units with selling price home or dwelling purposes, located at Brgy. Francisco Homes-Guijo, San Jose Del Human Settlements and Urban Development (DHSUD) Provisional License to Sell No. directly attributable to the revenues generated from the project, Villano Vilie 1 Butterfly Subdivision consisting of 221 house and lot units used solely for family exceeding f shall not be sold for more than P Moreover, the 221 house and lot units per Department of per house & lot package.

The enterprise shall observe the following project timetable.

Start of Commercial Operations Site preparation and development Building/House construction Activity November 2021 -- November 2024 June 2021 - June 2024 January 2022 Period

3. In the computation of the project's ITH, the following shall apply:

a. Only income generated from the sale:of housing units (Villano Ville 1 Butterfly Subdivision Brgy. Francisco Homes-Guijo, San Jose Del Monte, Bulacan) with selling price not exceeding PhP2.0M and used solely for farmily home or dwelling purposes and not for commercial purposes such as leasing, retail stores, offices, etc. shall be qualified. b Interest income from in-house financing shall not be considered as revenues

generated from the registered activity. D The Company's entitlement to ITH for its BOI-registered housing project is subject to the compliance with the provisions of the Specific Terms and Conditions of its BOI Registration.

T 6 The Company is required to file on or before the 15th day of the fourth month following The Company shall be constituted as a withholding agent for the government if it acts the Annual Information Return under oath, stating its gross income and expenses the close of its accounting period of a Profit and Loss Statement and Balance Sheet with incurred during the taxable year. the tax base, as may be provided under EQ 226, within the periods prescribed under RA No. 10708's Implementing Rules and Regulations and Joint Memorandum Circular as employer and any of its employees received compensation income subject to compensation withholding tax, or if it makes payments to individuals or corporations subject to the withholding taxes as source as required under Chapter XIII and Section Pursuant to Section 4 of Republic Act (RA) No. 107082, the Company is required to of the BIR. It shall file with BOi a complete'annual tax incentives report of its income- No. 1-2016 dated September i, 2016. 57 of the Tax Code, as amended and implemented by RR No. 2-98, as amended. file its tax returns and pay its tax liabilities, on or before the deadline as provided under the Tax Code, as amended, using the electronic system for filing and payment of taxes based tax incentives, VAT and duty exeinptions, deductions, credits or exclusions from

8. Finally, the Company's books of accounts and other pertinent records shall be subject to periodic examination by revenue enforcement officers of this Bureau for the purpose granted tax exemption or tax incentives and its tax liability, if any, pursuant to Section of ascertaining whether it is complying with the conditions under which it has been 235 of the Tax Code, as amended.

2 An Act Enhancing Transparency in the Management and Accounting of Tax Incentives Administered by Invesment Pronotion Agencies.