BIR Ruling No. 570-2020

REPUBLIC OF THE PHILIPPINES

DEPARTMENT OF FINANCE BUREAU OF INTERNAL REVENUE

Quezon City

Certificate of Tax Exemption No: NSH-0570-2020

CERTFICATE OFTAXEXEMPTON

TO ALL WHOM IT MAY CONCERN:

Landowners in favor of the National Housing Authority (NHA) over the parcels of land described below, to wit: This certifies that the Deeds of Absolute Sale (DOAS) Sale executed by the

Absolute Deeds of Date of Sale Landowner/ Names of Seller Certificate of Title No. Original (Sq.m.) Area Transferred (Sq. m.) Area Location

August 5, 2020 Builders CSE 58,331 48,9242 Asuncion), San Nicolas, Ilocos Brgy. Balacad (now Sta. Norte

August 5, 2020 Builders CSE 8,426 7,890 Nicolas, Ilocos Asuncion), San Brgy. Balacad (now Sta. Norte

TOTAL 66,757 56,814

which shall be used for the Sta. Monica Homes, with 400 housing units, located in Brgy. Sta. Community Initiative Approach Program (CIAP), earmarked for disposition to uniformed and non-uniformed personnel of the AFP, PNP, BFP, BJMP, BuCor, and other employees in the Asuncion, San Nicolas, Ilocos Norte, a socialized housing project of the NHA through its government, to be undertaken by CSE BUILDERS, are not subject to creditable withholding Act (RA) No. 7279 and value-added tax pursuant Section 109 (1)(P) of the Tax Code of 1997, tax/capital gains tax and documentary stamp tax pursuant to Sections 19 and 20 of Republic as amended.

1 This Certificate of Tax Exemption does not include exemption from estate tax and/or donor's tax, if applicable, on the transfer of lots from the registered owners to their heirs/donee.

2 In the Deed of Extrajudicial Settlement of Estate with Deed of Absolute Sale executed by and between the heirs of the late Facundo Bumanglag and CSE Builders dated December 26,2019, the vendors have retained 6,343

CSE Builders have'excluded 3,064 sq.m. from the sale thereby transferring only a total area of 48,924 sq.m. to subject of the Deed of Absolute Sale dated August 5,2020, entered into by and between CSE Builders and NHA NHA. sq.m. in their ownership thereby transferring only 51,988 sq.m.; and from that area (51,988) which was the

CSE Builders/Sta. Monica Homes CTENo.NH-0570-2020

Page 2 of 2 Date issued OCT 0 6 2020

as giving authority to concerned Register of Deeds to effect transfer of the land titles in the It is, however, understood that this CTE is never intended, and shall not be construed,

name of the buyer without the necessary Certificate Authorizing Registration (CAR) issued by this Bureau. In this regard, this CTE, together with the documentary requirements provided

under Revenue Memorandum Order (RMO) No.15-2003, shall be presented to the Revenue

District Office (RDO) concerned in order for the latter to issue the CAR.

Upon application for exemption, a lien on the titles of the lands, shall be annotated by

the Register of Deeds having jurisdiction over the properties, to the effect that the same are to be applied or are being applied to a socialized housing project pursuant to RA 7279.

This Certificate of Tax Exemption is being issued on the basis of the facts and

that the facts are different, then this Certificate shall be considered null and void. documents as represented and submitted: However, if upon investigation, the BIRascertains

Issued this day of OCT 0 6 2020

1eesawa

CAESAR R. DULAY Commissioner of Internal Revenue 036829 S

K-1-JAC