BIR Ruling No. 806-2019

REPUBLIC OF THE PHILIPPINES

DEPARTMENT OF FINANCE BUREAU OF INTERNAL REVENUE

Quezon City

Certificate of Tax Exemption No: 0806-2015

CERTIFICATE OF TAX EXEMPTION

TO ALL WHOM IT MAY CONCERN:

Identification Number (TIN) 000- withholding tax on its income received directly in connection with its low-cost mass housing This certifies that SM DEVELOPMENT CORPORATION, with Taxpayers 00. is exempt from income tax and creditable

project (horizontal), Breeze Residences, Roxas Boulevard, Barangay San Rafael, Pasay

Wch City, consisting of'1.983 housing units used solely for family home or dwelling purposes. located at Roxas Boulevard, Barangay San Rafael, Pasay City, a project duly registered with. period of three (3) years beginning from June 2014. or actual start of commercial operations/selling, whichever is earlier; but in no case cartier than the date of registration of the the Board of Investments (BOI) under Registration No. project with the BOI, pursuant to Omnibus InvestmentsCode of 1987 and Section 2.57.5 (B) (2) of Revenue Regulations (RR) Executive Order (EO) No.226, otherwise known as the dated May 10.2013.for a

No. 2-98, as amended.

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

Revenue Coe of 1997, as amended. Provided, however, that beginning January 01, 2021, the

with selling rice ( exemption f m VAT nly apply to sale of house and lot and other residential dwellings than P2,000,000.00.

as well as t of appropr the BOI (P commercia Hever, the LUR3 co mercial u s u.der es such icense Of housing units in excess of the 1,983 housing units registered with asing, retail'stores, offices, etc., shall be subject to the payment ational Internal Revenue Code of 1997, as amended. No.( d 683 parking slots, including those other units used for the excess is 150 residential housing units).

The g. Sf .ax inption herein is subject to the compliance with the provisions of applicable Bl} The Company les and regulations and the Terms and Conditions Stated at the back hereof. ble, however, for all other applicable taxes not discussed above.

that the facts are dif documents as This res. f td and submitted 3 01 then this Certif ax xemption is being issued on the basis of the facts and wever, if upon investigation, the BIR ascertains shall be considered null and void.

Issued thi o y of DEC 2 19

a F

&K-1-LMAT Commissioner of Internal Revenue CAESAR R.DULAY 9a 031634

Sale of lot only. regardless of the price, shall be subject to VAT starting January 01. 2021 pursuant to Republic Act (RA) No. 10963.