BIR Ruling No. 468-2020

BUREAU OEINTERNAL REVENUE REPUBLIC OF THE PHILIPPINES DEPARTMENT OF FINANCE Quezon City

E0 Certificate of Tax Exemption No. cM-0.68-2020

CERTIFICATE OFTAX EXEMPTION

issued to

Name of Sellers TIN Address

24-5889 152 St., Surrey, British Columbia, Canada

and:

Name of Homeowners Association (HOA) TIN Address

HOMEOWNERS ASSOCIATION, INC. HILLSIDE ESTATE PHASE 3 Purok 1, Zone 8, Cupang, Antipolo City,Rizal 1870

August 07, 2019, over the parcel of land described below, to wit; This certifies that the Deed of Absolute Sale entered by the Sellers and the HOA, dated

Transfer CertificateTotal AreaTransferredArea of CMP of Title No. (sq.m.) (sq.m.) (sq.m.) Location

Pasong Diablo, Cupang, Antipolo City

being a Community Mortgage Program (CMP), is not subject to capital gains tax pursuant to Section 32(b) of Republic Act(RA) No.7279,or the Urban Development m t and Housing Act of 1992.

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

not be construed as giving authority to the concerned Register of Deeds to effect transfer of the land 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 title in the name of the buyer without the necessary Certificate of Authority to Register issued by this It is, however, understood that this Certificate of Tax Exemption is never intended and shall

only be issued after the submission of the:requirements provided under Revenue Memorandum Order (RMO) No. 15-2003.

The Bureau of Internal Revenue (BIR) shall'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) of the 1997 Tax Code, as amended.

submitted. However, if upon investigation,the BIRiascertains that the facts are different, then this Certificate shall be considered null and yoid. This Certificate is being issued on the basis of the facts and documents as represented and

Issued this day of AUG.1.8 2020

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Commissioner of Internal Revenue CAESAR R.DULAY

K-1-JAC 036404

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