BIR Ruling No. 340-2019

REPUBLIC OF THE PHILIPPINES

BUREAU OF INTERNAL REVENUE DEPARTMENT OF FINANCE

Quezon City

Certificate of Tax Exemption No.

0340-2019

CERTIFICATE OF TAX EXEMPTION

issued

Name of Seller TN Address DEVELOPMENt BANK OF tHE PHILIPPinES DBP Bldg., Sen. Gil Puyat Ave. cor. Makati Ave., Makati City 1405

-and- Name of Homeowners Association (HOA) THN Address SAMAHANG MAGKAKAPITBAHAY NG ROSE PACKING HOMEOWNERS 4 Association, Inc., PHase 1 Pinagpala St., Pinalagad, Brgy. Malinta, Dist. 1, Valenzuela City 1440

01, 2019, over the parcels of land described below, to wit; This certifies that the Deed of Absolute Sate entered by the Seller and the HOA, dated February

Transfer Certificate] ( 01 of Title No. Total AreaTransferred[Area of CMP (sq.m.) I[.791 67 479 1 8 84 :647 (sq.m.) 11,79 479 84 1 84 (sq.m.) 11.791 147 479 1 84 84 Brgy. (Pinalagad) Karuhatan. Valenzuela City 1440 Location

being a Coinmunity Mortgage Program (CMP). is not subject to capital gains tax pursuart to Section 32 (b) of Republic Act (RA) No. 7279, or the Urban Development and Housing Act of 1992. The transaction is. however, subject to documentary stamp lax under Section 196 of the 1997 Tax Code, as amended.

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

occupants of the property transferred under the CMP are qualified beneficiaries and therefore, the seller 27(D)(5) of the 1997 Tax Code, as amended. is entitied to exemption from capital gains tax or income tax inposed under Sections 24 (D)(t ) and/or The Bureau of Internal Revenue (B!R) shall conduct verification and post-audit that the actua!

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 JUN 3 4 2013

DAR CAA

K-1-A( Commissioner of Internal Revenue CAESAR R. DULAY 026036