BIR Ruling No. 446-2021

REPUBLIC OF THE PHII.IPPINES DEPARTMENT OF FINANCE BUREAU OFINTERNAL REVENUE Quezon City Certificate ofTax Exemption No: K'l-Ul';4 3 - n ? CERTIFICATE OF TAX EXEMPTION TO ALL WHOM IT MAY CONCERN: This certifies that BRIA HOMES,INC^ with Taxpayer IdenIification Number(TIN) 1000, is exempt from income tax and creditable withholding tax on its income received directly in connection with its economic and low-cost housing project, Bria Flats Cagayan de Oro-Crimson Building-Kauswagan,Cagayan de Ore City,consisting of80 residential units used solely for family home or dwelling purposes, located at Kauswagan Cagayan de Ore City,a project duly registered with the Board ofInvestments(BOI)under prtiflcat^ofRegistration No.: i dated December 26,2019, fora period of 3years beginning from January 2020 or actual start ofcommercial operations/selling, whichever is earlier, butin no case earlier than the date ofregistration ofthe projeci:with the BOI pursuant !1987 and Section 2.57.5(B)(2)ofRoethveernwuieseRekgnuolawtnioanss(thReR")ONmon.i2b-u^s8,Iansveasmtemnednetds.Code of Moreover, the sale by the Company of residential lot valued at PI,919,500.00 and bel^,or house and btand other residential dwellings valued at P3,199,200.00 and below is 1997,as amended. Provi?!d?e"di, however,that beNgaitninoinnaglJIannteuranrayl0R1e,v2eonbule,CthoedeV(ATTaxexCeomdpet)i'oonf dwellings^ with selling price of However,thesale ofresidential units in excessofthe80residential units registered with the BOI, if any, including those units used for commercial purpose:; such as leasing, retail stores,offices,etc. shall be subject to the payment ofappropriate taxes under the Tax Code of 1997,as amended. TaphpeliCcoabmTlpheaeBngIyrRainsrtulloieafbstlaean,xdheorxweeegmvupletarit,oifnoonrhseaarlnlediontthhiesersTauepbprjlemicsctaatbnoldethtCeaoxncedosimtnpiolotindasinsscctvatweidthattthheepbraocvikshieornesooff, ussed above. This Certificate of Tax Exemption is being issued on the uaoia ui mc latis ana documents as represented and submitted. However,if upon investigatbiaosni,sthoefBtIhRe afsaccetrstaainnds that the facts are different, then this Certificate shall be considered nul and void. Issued this day of DEC 0 5 ^ K-l-GPS CAESAR R.DULAV Commissicner ofInternal Revenue Q47 5:) ] ' Kormcrly: Casa Regalia, Incorporated ^ Sale oflotonly,regardlessofthe price,shall besubjectto VATstartingJanuary01,2021 pursuantto RA No.10963. As adjusted using the 2010Consumer Price Index values pursuantto RR No!8-2021 dated June 11,2021