BIR Ruling No. 312-2021

REPUBLIC OF THE PHHLIPPINES

DEPARTMENT OF FINANCE BUREAU OF INTERNAL REVENUE

Quezon City

Certificate of Tax Exemption No:

PSH -

CERTIFICATE OF TAX EXEMPTION

TO ALL WHOM IT MAY CONCERN:

This certifies that EASTERN VISAYAS LAND REALTY, INC:; with Taxpayer

withholding tax (CWT) pursuant to Section 20 (d) (1) of Republic Act (RA) No. 7279, as Identification Number (TIN) , is exempt from income tax and creditable

amended by RA No. 10884 (Balanced Housing Development Program Amendments) dated July 17, 2016, on its income received directly in connection with its sale of socialized house and lot units for residential and dweiling purposes to qualified beneficiaries in Montview Residences, consisting of 280 house and lot units, located at Brgy. Tigbao, Tacloban City, a project duiy registered with the Housing and Land Use Regulatorv Board (HLURB) under price of said units does not exceed P450,000.00' per house and lot. Certificate of Registration No. and License to Sell No. provided that the selling

below, or house and lot and other residential dwellings valued at P3, 199,200.00 and below, is exempt from value-added tax (VAT) pursuant to Section 109 (l) (P) of the National Internal 01, 2021, the exemption from VAT shall only apply to sale of house and lot and other residential dwellings- with selling price of not more than P3, 199,200.00.3 Revenue Code (Tax Code) of 1997, as amended. Provided, however, that beginning January Moreover, the sale by the Company of residential lot valued at P1,919,500.00 and

by RA No. 7279, shall be subject to the payment of appropriate taxes. whichever is higher. Likewise, lots/units classified as Economic Housing, not being covered covered by the tax exemption clause in Section 20 of RA No. 7279. Thus, the documents conveying the properties shall be subject to DST 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 it is observed, however, that documentary stamp tax (DST) 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 other applicable taxes not discussed above. The grant of tax exemption herein is subject to the compiiance with the provisions of

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 HUiG

30MN

K-I-LMAT Commissioner of Internal Revenue CAESAR R. DULAY

% Sale of lot only, regardless of the price. shali be subject to VAT starting January 01. 2021 pursuant to RA No. 10963. 3 As adjusted using the 2010 Consumer Price Index values pursuant to Revenue Regulations No. 8-2021 dated June 11. 2021. + Per HI.U'RB License to Sell No. ' dated January [5. 2019

EASTERN Y'ISAYAS LAND REALTY, INC. (Montview Residences) CTE No.: Date issued: PSH

OF THE CERTIFICATE OF TAX EXEMP? TERMS AND.CONDITIONS TION

1. The exemption from income and creditable withholding taxes covers only income directly attributable to the revenues generated from the 280 socialized house and lot units in Montview Residences, located at Brgy. Tigbao, Tacloban City.

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

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

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