BIR Ruling No. 620-2020

REPUBLIC OF THE PHILIPPINES

DEPARTMENT OF FINANCE BUREAU OF INTERNAL REVENUE Quezon City

Certificate of Tax Exemption No. DT-0620-2020

CERTIFICATE OF TAX EXEMPTION issued to

FORESIGHT REALTY & DEVELOPMENT CORPORATION 308 Concepcion Bldg., Sen. Gil Puyat Ave., Makati City, Philippines 1200 TIN: 000-685-907-000

executed by the donor in favor of: This certifies that the donation under the Deed of Donation dated May 16, 2019,

ROMAN CATHOLIC BISHOP OF ANTIPOLO, INC. Name of Donee TIN Chancery Office, Mater Dei Formation Center, Antipolo City, Rizal 1870 Address

covering the following property:

Transfer Certificate of Title No. (sq.m.) Area Donated Area Location

33,783 (sq.m.) 5,521 Sumulong Hi-way, Sta. Cruz, Antipolo City

being a gift in favor of a religious corporation is exempt from the payment of the donor's tax condition that not more than thirty percent (30%) of said gift shall be used by the donee for administration purposes. pursuant to Section 101 (A(2 of the Tax Code of 1997, as amended, subject to the

pursuant to Section 4.106-7 of Revenue Regulations No. 16-2005, the same being considered VAT-registered real estate developer and the donated properties are deemed ordinary assets, a transaction deemed sale. The donation is, however, subject to value-added tax (VAT) since the donor is a

same Code. Accordingly, the Deed of Donation is likewise not subject to the documentary stamp tax prescribed under Section 196 of the Tax Code of 1997, as amended, but only to the documentary stamp tax of P30.00 imposed underSection 188 of the National internal Code of 1997, as amended, shall be exempt from the tax imposed under Section 196 of the Revenue Code of 1997, as amended by R.A. No. 10963 or TRAIN Law. Moreover, transfers exempt from donor's tax under Section 101(a) and (b) of Tax

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 OCT 2 8_2020

eeime

Commissioner of Internal Revenue CAESAR R.DULAY

K-1-JAC 037304 9

Y

Renumbered by Republic Act No. 10963.