BIR Ruling No. 475-2021

REPUBLIC OF THE PHILIPPINES DEPARTMENT OF FINANCE BtJREAU OEINTERNAL REVENUE Quezon City Certificate of Tax Exemption No: JWhLc1^:4 / 0 - J 2 1 CERTIFICATE OF TAX EXEMPTIC N TO ALL WHOM IT MAY CONCERN: This certifies that COMMUNITIESPAMPANGA,INC.witf Taxpayer Identification Number(TIN) 000, is exempt from income tax and creditable withholding tax on its income received directly in connection with its economic and low-cost housing project, Camella Subic-Brgy.Aningway-Sacatihan,Subic,Zambales,consisting of1^house and lot units used solely for family home or dwelling purposes, located at Brgy. Aningway- Sacatihan, Subic, Zambales,a project duly registered with the Board ofInvestments(BOI) under Certificate ofRegistration No. )dated December 26,'2019, for a period of4 years beginning from January 2020 or actual start of comme|cial operations/selling, whichever is earlier, but in no case earlier than the date of registration ofthe project with the BOI, pursuant to Executive Order (EO) No. 226, otherwise known as the "Omnibus Investments Code of1987"and Section 2.57.5(B)(2)ofRevenue Regulations(RR)No.2-98, as amended. j Moreover, the sale by the Company of residential lot valued at PI,919,500.00 and below, or house and lot and other residential dwellings valued at P3,199,200.00 and below, is VAT-exempt under Section 109(1)(P) ofthe National Internal Revenue Code(Tax Code)of 1997, as amended. Provided, however, that beginning January 01, 2021, the VAT exemption shall only apply to sale of house and lot and other residential dwellings' with selling price of not more than P3,199,200.00^. T However, the sale of house and lot units in excess of the 154 house and lot units registered with the BOI, if any, including those units used for commercial purposes such as leasing, retail stores, offices,etc.shall be subjectto the payment ofappropriate taxes under the Tax Code of 1997, as amended. The grant oftax exemption herein is subject to the compliance with the provisions of applicable BIR rules and regulations and the Terms and Conditions siitked at the back hereof. The Company is liable, however,for all other applicable taxes not discLissed above. This Certificate of Tax Exemption is being issued on the basis of the facts and documents as represented and submitted. However, if upon investigat|ion, the BIR ascertains that the facts are different,then this Certificate shall be considered null and void. Issued this day of OEC 2 I '.'Til K-l-GPS caesIar r.dulay ^ Commissioner ofInternal Revenue m I^ 'Sale oflot only,regardless ofthe price,shall be subjectto VAT starting January 01,2021 pursuant to RA No. 10963. - As adjusted using the 2010 Consumer Price Index values pursuant to RR No.8-2021 dated June 11,2021.