BIR Ruling No. 692-2020

REPUBLICOF THE PHILIPPINES

DEPARTMENT OF FINANCE BUREAU OF INTERNAL REVENUE

Quezon City

Certificate of Tax Exemption No:

PSH -' 692-2028

CERTIFICATE OF TAX EXEMPTION

TO ALL WHOM IT MAY CONCERN:

(Balanced Housing Development Program Amendments) dated July 17, 2016, on its income dwelling purposes to qualified beneficiaries in Bellavita - Pila Phase 1 Batch 3, consisting of 606 house and lot units, located at Brgy. Pansol, Pila, Laguna, a project duly registered with the Department of Human Settlements and Urhan Development (DHSUD) under Certificate of pursuant to Section zv (d) (1) of Republic Act (RA) No. 7279, as amended by RA No. 10884 received directly in connection with its sale of socialized house and lot units for residential and Registration No does not exceed P450,000.002 per house and lot. (TIN) This certifies that BELLAVITA LAND CORP.1 with Taxpayer Identification Number and License to Sell No. is exempt from income tax and creditable withholding tax (CWT) provided that the selling price of said units

below, or house and lot and other residentiai dwellings valued at P3,199,200.00 and below, is exempt from value-added tax (VAT) pursuant to Section 109 (1) (P) of the National Internal Revenue Code of 1997, as amended. Provided, however, that beginning January 01, 2021, the exemption from VAT shall only apply to sale of house and lot and other residential dwellings3 with selling price of not more than P2,000,000.00. Moreover, the sale by the Company of residential lot valued at P1,919,500.00 and

being covered by RA No. 7279, shall be subject to the payment of appropriate taxes. 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 National Internal Revenue 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. Likewise, lots/units classified as Economic Housing, not 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 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 DEC292020

193My

CAESAR R. DULAY

K-I-LMAT Commissioner of Internal Revenue 038866

3 Sale of lot only, regardless of the price. shall be subject to VAT starting January 01, 2021 pursuant to RA No. 10963. 2Per DHSUD License to Sell No. Formerly:South Maya Ventures Cornoration dated October 16.2020

BELLAVITA LAND CORP (Bellavita - Pila Phase 1 Batch 3) Date issued: CTE No.: PSH - 6 9 2 - 20 20 DEC z 9 2020

OF THE CERTIFICATE OF TAX EXEMPTION TERMS AND CONDITIONS

The exemption from income and creditable withholding taxes covers only income directly attributable to the revenues generated from the 606 socialized house and lot units in Bellavita - Pila Phase 1 Batch 3, located at Brgy. Pansol, Pila, Laguna.

The developer shall submit the sworn statement of the buyer that he is eligible as a socialized housing beneficiary under Section 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 socialized 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 lot packages in this case does not really exceed P450,000.00.

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