BIR Ruling No. 454-2021

REPUBLIC OF THE PHILIPPINES DEPARTMENT OF FINANCE BUREAU OF INTERNAL REVENUE Quezon City Certificate of Tax Exemption No: LEW �4 'j 4 " , V CERTIFICATE OF TAX EXEMPTION TO ALL WHOM IT MAY CONCERN: This certifies that BRIA HOMES,INC'. with Taxpayer Identification Number(TIN) 00, is exempt from income tax and creditable withholding tax on its income received directly in connection with its economic and low-cost housing project, Lumina Classic 2B-Brgy.San Vicente,Sto.Tomas,Batangas,consisting of327 house and lot units used solely for family home or dwelling purposes,located at Brgy.San IVicente,Sto.Tomas, Batangas,a project duly registered with the Board ofInvestments(BOj)under Certificate of Registration No.: dated December 17,2019,for a period of 3years beginning from December 2019 or actual start ofcommercial operations/selling, whichever is earlier, but in no case earlier than the date of registration of the project with the BOI, pursuant to Executive Order(EG)No.226,otherwise known as the"OmnibusInvestments Code of1987"and Section 2.57.5(B)(2)ofRevenue Regulations(RR)No.2-98,as amended. Moreover, the sale by the Company of residential lot valued at PI,919,500.00 and below, or house and lot and other residential dwellings valued at P3,199,200.00 and below, is VAT-exsmpt under Section 109(1)(P) of the National Internal Revenue Code(Tax Code)of 1997, as amended. Provided, however, that beginning January 01, 2021, the VAT exemption shall only apply to sale of house and lot and other residential dwellings^ with selling price of not more than P3,199,200.00^. However, the sale of house and lot units in excess of the 327 house and lot units registered with the BOI, if any,.including those units used for commercial purposes such as leasing, retail stores, offices,etc. shall be subject to the payment ofappropriate taxes under the Tax Code of 1997, as amended. The grant oftax exemption herein is subject to the compliance with the provisions of applicable BIR rules and regulations and the Terms and Conditions stdted 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 )asis 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 Lhi' i 3 3021 CAESAR R.DULAY Commissioner ofInternal Revenue K-l Tf. 047 7 5 'Formerly;Casa Regalia,Incorporated '' ^ Sale oflot only,regardless ofthe price,shall be subject to VAT starting January 01,2021 pursuantto No. 1IC0963. 'As adjusted using the 2010 Consumer Price Index values pursuant to RR No.8-2021 dated June 11,2021