BIR Ruling No. 520-2017

REPUBLIC OF THE P HLIPPINES

BUREAU OF INTERNAL REVENUE DEPARTMENT :F FINANCE

Quezon City

Certificate of Tax Exemption No: 520-20

CERTIFICATE OF TAX EXEMPTION

TO ALL WHOM IT MAY CONCERN:

tax (CWT) and value-added tax (VAT) pursuant to Section 20 of Republic Act (RA) No. 7279 Identification Number on its income received directly in connection with its sale of socialized housing units to qualified beneficiaries in Highland Residences Phase 1, consisting of 1,249 units. located at Brgy. San Vicente & San Pedro, Sto. Tomas, Batangas. a project duly registered with the Housing and Land Use Regulatory Board (HLURB) under Certificate of Registration No I`his certifies that THE NEW APEC DEVELOPMENT CORPORATION,with Tax , is exempt from income tax, creditable withholding

does not exceed P450.000.00 and P180.000.00 for lot only. 27798 and License to Sell No. provided that the ceiling price per house and lot package

covered by the tax exemption clause in Section 20 of RA No. 7279. Such being the case, the owner/project developer/seller shall be liable to pay the documentary stamp tax on the documents conveying the properties imposed under Section 196 of the Tax Code of 1997, as amended. based on the consideration contracted to be paid for such realties or on their fair market value determined in accordance with Section 6 (E) of the same Code, whichever is higher. Nonetheless, it is observed that documentary stamp tax (DS'T) is not one of the taxes

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

that the facts are different, then this Certificate shall be considered null and void. documents as represented and submitted. However, if upon investigation, the BIR ascertains This Certificate of Tax Exemption is being issued on the basis of the facts and

Issued this day of NOV 0 7 20t?

Commissioner of Internal Revenue CAESAR R. DULAY 010961

K-1-JAC

Page 2 of 3 The New APEC Development Corporation/Highland Residences Phase 1 CTE No. Date issued 20-20:7 11-7-03

OF THE CERTIFICATE OF TAX EXEMPTION TERMS AND CONDITIONS

1 The exemption from income. creditable withholding taxes and VAT covers only income directly attributable to the revenues generated from the 1,249 socialized housing units in Highland Residences Phase 1, located at Brgy. San Vicente & San Pedro Sto. Tomas Batangas.

2. The developer shall submit the sworn statement of the buyer that he is eligible as a (CAR) for the transfer of the title of the socialized housing unit. socialized housing beneficiary under Section 5 (A) of Revenue Regulations (RR) No. 11-97 to the BIR during the processing of the Certificate Authorizing Registration

3 It is understood that the Certificate Authorizing Registration (CAR) shall only be issued concerned that, considering the rules on valuation of real property. the actual selling price per sale transaction of the socialized house and lot packages in this case does not really exceed P450.000.00 and P180,000.00 for lot only. after it is established upon proper verification by the Revenue District Officer (RDO)

4. List of Non-saleable lots per HLURB License to Sell No. 032040. granted by the HLURB. Region VI. Calamba City, Laguna to wit:

Non-Saleable Block No. Lot No.

Materials Recovery Facility (MRF) Community Facilities Community Facilities Community Facilities Park/Playground Park/Playground Park/Playground Park/Playground Water Tank Site Excluded Areas Excluded Areas Excluded Areas Excluded Areas Excluded Areas. Excluded Areas Excluded Areas Excluded Areas Excluded Areas Excluded Areas Park/Playground Water Tank Site Excluded Areas 14 2 62 63 64 6 6 T4 15 2 64 13 63 6 68 19 10 11 71 60 13 8 3&4 1 2 2 2 I 2 2 1 1 1 1 1 1 1 1 1 1

1 The maximum seling price is pegged at 450,00000 based on HLURB License to Sell No.

The New APEC Development Corporation/Hightand Reside:ces Phase 1 Page 3 of 3 CTe No. Datc issucd '-?-CI 20-Q7

5. List of Socialized Housing Units which are credited to Highiand Residences Phase 1.

located at Brgys. San Vicente and San Pedro, Sto. Tomas, Batangas, per HLURB License to Sell No. , granted by the HLURB. Region VI. Calamba City. Laguna to wit:

Block No. T Lot Nos. 2- No. of Lots 1

2 2 3 3 4 4 5 22-38 Total 11-18 23-28 23-38 3-1 8 3-18 3-17 3-20 1 16 11 16 16 15 18 1 17

6. List of Socialized Housing Units which are credited to Boston Heights Phase 2, located

at Brgy. Toclong, Kawit, Cavite, per HLURB License to Sell No. . granted by the HLURB. Region VI. Calamba City, Laguna to wit:

Block No. Lot Nos. No. of Lots

10 S 1 1 1 11 25-42 25-42 3-20 2-10 3-16 3-16 118 18 118 14 14 9

Total 91