BIR Ruling No. 36-2018

BUREAU OF INTERNAL REVENUE UEPAKIMENI UF FINANCE Quezon City

Certificate of Tax Exemption No: 036-2018

CERTIFICATE OF TAX EXEMPTION

TO ALL WHOM IT MAY CONCERN:

engaged by the National Housing Authority (NHA), is exempt from project-related income INC./KIT PROPERTIES, INC. - CONSORTIUM (TIN: construction/development of socialized housing units under the NHA's Yolanda Permanent Housing Program, to wit: taxes, creditable withholding tax and value added tax (VAT), pursuant to Section 20 (d)(1) and (3) of Republic Act No. 7279, on its income received directly in connection with the This certifies that URBAN CONSOLIDATED CONSTRUCTORS PHILS., , an entity

Notice of. Date of Award Agreement Contract Date of Contract Price (Php) Project Name Location No. of Socialized Housing Units subject of tax

March 4, 2015 June 17, 2015 Hamod People's Village Batad, Iloilo Hamod, Brgy. exemption

receipts from the said socialized housing projects. be understood that URBAN CONSOLIDATED CONSTRUCTORS PHILS.,INC./KIT PROPERTIES, INC. - CONSORTIUM must issue non-VAT official receipts on its gross CONSTRUCTORS PHILS., INC./KIT PROPERTIES, INC. - CONSORTIUM shall be subject to VAT, even if the said purchases are to be used for the socialized housing projects, since VAT is an indirect tax which can be passed on by the seller of the goods/services. It shali However, the purchases of goods/articles by URBAN CONSOLIDATED

favor of the NHA over the parcels of land described below, to wit: Moreover, the Deeds of Absolute Sale/ Unilateral Sale Executed by the Landowners in]

Date of Deed May 7,2015 Unilateral of Sale/ Sale Landowner/Seller Noan Francisco Name of Certificate of Title Transfer No. (Sq.m.) Area Transferred Area Brgy. Hamod, Batad, Iloilo Location

May 7, 2015 Noan Francisco Brgy. Hamod. Batad, Iloilo

May 7,2015 Annabelle Bales Francisco Brgy. Hamod, Batad, Iloilo

Kit Properties, Inc. -- Consortium Date issued 1--24--2018

Page 2 of 2

May 7,2015 Annabelle Bales Francisco Brgy. Hamod Batad, Iloilo

income tax/capital gains tax/expanded withholding tax, documentary stamp tax and value which shall be used for the above-mentioned socialized housing projects, are not subject to

109 (1)(P) of the Tax Code of 1997, as amended. added tax (VAT) pursuant to Sections 19 and 20 of Republic Act (RA) No. 7279 and Section

as giving authority to concerned Register of Deeds to effect transfer of the land titles in the name of the buyer without the necessary Certificate Authorizing Registration (CAR) issued by this Bureau. In this regard, this CTE shall be presented to the Revenue District Office (RDO) concerned in order for the latter to issue the CAR. It is, however, understood that this CTE is never intended, and shall not be construed.

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 JAN 2 4 2018

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Commissioner of Internal Revenue CAESAR R. DULAY 012751 K-1-JAC