BIR Ruling No. 650-2020

REPUBLIC OF THE PHILIPPINES

DEPARTMENT OF FINANCE BUREAU OF INTERNAL REVENUE

Quezon City

Certificate of Tax Exemption No: B0j-LEH-0550-2920

CERTIFICATE OF TAX EXEMPTION

TO ALL WHOM IT MAY CONCERN:

no case earlier than the date of registration of the project with the BOI, pursuant to Executive PASINAYA HOMES NORTHEAST - Brgy. Timalan, Naic, Cavite, consisting of 464 house and lot units used solely for family home or dwelling purposes, located at Brgy. Timalan, Naic, Cavite. a project duly registered with the Board of Investments (BOI) under income received directly in connection with its economic and low-cost housing project, September 2020 or actual start of commercial operations/selling, whichever is earlier, but in Order No. 226, otherwise known as the:"Omnibus Investments Code of 1987" and Section 2.57.5 (B) (2) of Revenue Regulations (RR) No. 2-98, as amended. Registration No. TIN) This certifies that RAEMULAN LANDS, INC. with Taxpayers Identification Number is exempt from income tax and creditable withholding tax on its dated September 10, 2020, for a period of 3 years beginning from

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

appropriate taxes under the National Internal Revenue Code of 1997, as amended. purposes such as leasing, retail stores, offices, etc._shall be subject to the payment of registered with the BOI, if any, including those house and lot units used for commercial However, the sale of house and lot units in excess of the 464 house and lot units

applicable BIR rules and regulations and the Terms and Conditions stated at the back hereof. The Company is liable, however, for all other applicable taxes not discussed above. The grant of tax exemption herein is subject to the compliance 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 DEC 0 2 2020

Commissioner of Internal Revenue Jawe CAESAR R.DULAY

K-1-MDT 038154

ISale of ot only, regardless of the price, shall be subject to VAT starting January 01, 202l pursuant to RA No. 10963