BIR Ruling No. 311-2021

REPUBLIC O:THE :HILIPPINES

BUREAU OF INTERNAL REVENUE DEPARTMENT OF FINANCE

Quezon City

Certificate of Tax Exemption No: BOI-LEH-3 1 1 -2 0 21

CERTIFICATE OF TAX EXEMPTION

TO ALL WHOM IT MAY CONCERN:

Calamba Park Place1 - Brgy. Makiling, Calamba City, Laguna, consisting of i,3902 house and lot amended. income received directly in connection with its economic and low-cost housing project (horizontal), units used solely for family home or dwelling purposes, located at Brgy. Makiling, Calamba City. Laguna, a project duly registered with the Board of Investments (BOI) under Certificate of Registration (COR) No. 2017-204 dated July 06, 2017, for a period of four (4) years beginning from July 06, 2017 to July 05, 2021, pursuant to Executive Order (EO) 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 Number (TIN) This certifies that BASIC HOUSING SOLUTIONS, INC., with Taxpayer Identification , is exempt from income tax and creditable withholding tax on its

added tax (VAT) pursuant to Section 109 (1) (P) of the National Internal Revenue Code (Tax Code) of house and lot and other residential dwellings valued at P3,199,200.00 and below, is exempt from value- 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 P3.199.200.00.4 Moreover, the sale by the Company of residential lot valued at P1,919,500.00 and below, or

subject to the payment of appropriate taxes under the Tax Code of 1997, as amended. including those units used for commercial purposes such as leasing, retail stores, offices, etc., shall be However, the sale of house and lot units in excess of the 1,390 house and lot units, if any,

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

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 documents as Issued this day of AUG Z 4 202}

Ra0

CK-I-LMAT Commissioner of Internal Rexenue CAESAR R. DULAY 144984

2 Covered by the following COR and LTS issued by the HLURB: 1 Per Certification dated April 08, 2021 issued by the BOI, Calamba Park Place is covered by License to Sell (LTS) Nos. HouSing and Land Use Regulatory Board (HLUKB). (Calamba Park Place Phase 1) and (Calamba Park Place Phase 2) both dated April 26, 2017 issued by the

3 Sale of lot only, regardless of the price, shall be subject to VAT starting January 01, 2021 pursuant'to Repubtic Act (RA) 4 As adjusted using the 2010 Consumer Price Lndex values pursuant to RR No. 8-2021 dated June 11, 2021. No. 10963 COR No. COR No. 5 and LTS No. and LTS No. Total Calamba Park Place Phase 2 Calamba Park Place Phase I L390 units 661 units 729 units

BASIC HOUSING SOL UTIONS, INC. (Calamba Park Place) CTE NO.: Date issued: AUGCT4 BOI-LEH - 3 ?1 - 2 2 1 Ata

TERMS AND CONDITIONS OF THE CERTIFICATE OF TAX EXEMPTION

The exemption from income and creditable withhoiding taxes covers only income directly

attributabie to the revenues generated from the project; Calamba Park Place -- Brgy. Makiling,

Calamba City, Laguna, consisting of 1,390 house and lot units used solely for family home or

dwelling purposes, located at Brgy. Makiling, Calamba City, Laguna. Such exemption shall not

cover revenues from units with selling price exceeding P3,000,000.00. Moreover, the 661 house

and lot units covered by LTS No. 032200 shall not be sold for more than P1,700,000.00 per unit.

2. The Company is obligated to comply with the following sales revenues:

Year Total 2 (No. of Units) Volume 1,390 347 34 349 34 2,390,717 (P 000) 354,270 640,229 585,463 610,755 Value

3. In the computation of the project's ITH, interest income from in-house financing shall not be

considered as part of the revenues generated from the registered housing project.

The Company's entitiement to ITH for its BOI-registered housing project is subject to the compliance with the provisions of the Specific Terms and Conditions of its BOI Registration.

5. Pursuant to Section 4 of Republic Act (RA) No. 107085, the Company is required to file its tax

returns and pay its tax liabilities, on or before the deadline as provided under the Tax Code of 1997

as amended, using the electronic system for filing and payment of taxes of the BIR. It shall file with

BOI a complete annual tax incentives report of its income-based tax incentives, VAT and duty

exemptions, deductions, credits or exclusions from the tax base, as may be provided under EO No.

226, within the periods prescribed under RA No. 10708's Implementing Rules and Regulations and

Joint Memorandum Circular No. 1-2016 dated September 1,2016.

6. The Company shall be constituted as a withholding agent for the government if it acts as employer

and any of its employees received compensation income subject to compensation withholding tax.

or if it makes payments to individuals or corporations subject to the withholding taxes as source as

required under Chapter XIII and Section 57 of the Tax Code of 1997, as amended, and implemented

by RR No. 2-98, as amended.

7 The Company is required to file on or before the 15th day of the fourth month following the close

of its accounting period of a Profit and Loss Statement and Balance Sheet with the Annual

Information Return under oath, stating its gross income and expenses incurred during the taxable

year.

8 Finaliy, the Company's books of accounts and other pertinent records shall be subject to periodic examination by revenue enforcement officers of this Bureau for the purpose of ascertaining whether

it.is.complying with the conditions under which it has been granted tax exemption or tax incentives

and its tax liability, if any, pursuant to Sectrof 235 of the Tax Coderof-1997, as-amended.