BIR Ruling No. 578-2020

REPUBLICCF THE PHILIPPINES

DEPARTMENT OF FINANCE BUREAU OF INTERNAL REVENUE Quezon City

CMP-0578-2020 Certificate of Tax Exemption No.

CERTIFICATE OF TAX EXEMPTION

issued to

AVR Brokerage Corporation Name of Vendor TIN 2069 Dr. Manuel Carreon St., Sta. Ana, Manila Address

Brokerage Corporation in favor of: This certifies that the Deed of Absolute Sale dated February 03, 2009, executed by AVR

Name of Vendee City of Manila TIN City Hall, Arroceros St., Ermita, Manila 1000 Address

covering the following property:

Original Certificate of Title No. Area (sq.m.) Transferred Area J. Luna St., Brgy. 147, Zone 013. Location

Tondo, Manila

program for the benefit of the members of Villa Foias Neighborhood Association, Inc., is not subject to capital gains tax/creditable withholding tax pursuant.to Section 20 (d) of Republic Act (RA) No. 7279, otherwise known as the "Urban Development and Housing Act of 1992". The transaction is, however, subject to documentary stamp tax under Section 196 of the 1997 Tax Code, as amended, which shall be used for socialized housing by the City of Manila, under its Land-for-the-Landless based on the actual consideration of the sale.

Bureau. In this regard, this Certificate shall be presented to the Revenue District Office (RDO) only be-issued after the submission of the requirements provided under Revenue Memorandum Order not be'construed as giving authority to the concerned Register of Deeds to effect transfer of the land title in the name of the buyer without the necessary certificate of authority to register issued by this concerned in order for the latter to issue the Certificate Authorizing Registration (CAR). The CAR shall RMO) No.15-2003. It is, however, understood that this Certificate of Tax Exemption is never intended and shall

of Deeds having jurisdiction over the property, to the effect that the same is to be applied to socialized housing project pursuant to R.A. No. 7279. Upon application for exemption, a lien on the title of the land shall be annotated by the Register

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

Issued this day of OCT 0 6 2020

oesaye

Commissioner of Internal Revenue CAESAR R. DULAY

K-I-JAC 036837

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