BIR Ruling No. 577-2020

3 BUREAU OF INTERNAL REVENUE REPUBLIC OF THE PHILIPPINES DEPARTMENT OF FINANCE

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Certificate of Tax Exemption No. CMP-0577-2020

CERTHFICATE OF TAX EXEMPTION

issued to

hy its PresidentDavid O.Chua Pleasanton Land Corporation as represented Name of Seller TIN 24/F Galleria Corporate Center.EDSA cor Ortigas AvenueQuezon City Address

-and-

Name of Homeowners Association (HOA) Homeowners' Association, Inc. Phase H-A Samahang Magkakapitbahay ng Purok II TIN Sccondary RoadMalandayMarikina City Address 1820

October 21, 2019 over a parcel of land described below, to wit This certifies that the Deed of Absolute Sale entered by the Seller and the HOA dated

Certificate of Title Transfer (sq.m.) Area 4.573 I'ransferred (sq.m.) 4.S73 Area of CMP (sm) 4,73 Minahan Int (Purok 3 Phase 2A) Brgy.Malanday.Marikina City Location

being a Community Mortgage Program (CMP)i, is not subjeet to capital gains tax pursuant to Seetion 32 (b) of Republic Act (RA) No. 7279 or the Urban Development and Housing Act of 1992. The transaction is.

however, subject to documentary stamp tax under Section 196 of the 1997 Tax Code, as amended.

It is, however, understood that this Certificate of Tax Exemption is never intended and shall not be

construed as giving authority to the concerned Register of Deeds to effect transfer of the land title in the

name of the buyer without the necessary certificate of authority to register issued by this Bureau. In this

regard, this Certificate shall be presented to the Revenue District Office (RDO) concerned in order for the

latter to issue the Certificate Authorizing Registration (CAR). The CAR shall only be issued after the

submission of the requirements provided under Revenuc Memorandum Order (RMO) No. 15-2003.

The Bureau of Internal Revenue (BIR) shail conduct verification and post-audit that the actual

occupants of the property transferred under the CMP are qualified beneficiaries and therefore. the seller is

entitled to exemption from capital gains tax or income tax imposed under Sections 24 (D)(1) and/or 27 (D)(5) the 1997 Tax Code, as amended.

This Certificate 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 OCT 0 6.2020

naugomue

Commissioner of Internal Revenue CAESAR R. DULAY

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Shall beproponioately distributed toie association qualified member-hencfictares(Sec Annex