BIR Ruling No. 424-2021

REPUBLIC OF THE PHILIPPINES

BUREAU OF INTERNAL REVENUE DEPARTMENT OF FINANCE

Quezon City

Certificate of Tax Exemption No: NGH-424-2`8

CERTIFICATE OF TAX EXEMPTION

TO ALL WHOM IT MAY CONCERN:

Code of 1997, as amended, provided that the selling price thereof does not exceed creditable withholding tax, pursuant to Section 20 (d)(1) of Republic Act (RA) No. 7279, as amended by RA No. 10884 (Balanced Housing Development Program Amendments) dated July 17, 2016, on its income received directly in connection with the construction/development of 156 new socialized housing units, 214 sociaKzed housing units for completion and 153 lots Program. Moreover, the construction/development of 156 new socialized housing units, 214 socialized housing units for completion and 153 lots in Genevieve Sites 1 & 2 shall be exempt from value-added tax (VAT) pursuant to Section 109 (1)(P) of the National Internal Revenue 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. P3,199,200.002 per house and lot package; provided further, that beginning January 01, 2021 the National Housing Authority (NHA)', is exempt from project-related income taxes and in St. Genevieve Sites I & 2 located at Brgy. Sapao, Guiuan, Eastern Samar, intended for the families affected by Typhoon Yolanda under the NHA's Yolanda Permanent Housing This certifies that PHINTECSTAR CONSTRUCTION, INC., an entity engaged by

issue VAT Exempt official receipts on its gross receipts from the said socialized housing project. INC., shall be subject to VAT, even if the said purchases are to be used for the socialized housing project, since VAT is an indirect tax which can be passed on by the seller of the goods/services. It shalI be understood that PHINTECSTAR CONSTRUCTION, INC. must However, the purchases of goods/articles by PHINTECSTAR CONSTRUCTION,

that the facts are different, then this Certificate shall be considered null and void. documents as represented and submitted. However, if upon investigation, the BIR ascertains This Certificate of Tax Exemption is being issued on the basis of the facts and

Issued this day of_NOV 1 0 202}

AM

K-I-JAC Commissioner of Internal Revenue CAESARR. DULAY 2 047158

3 Sale of lot only, regardless of the price, shall be subject to VAT starting January 01, 2021 pursuant to RA No. 10963. 1 Per Contract Agreement dated September 14, 2021. 2 As adjusted in 2011 using the 2010 Consumer Price Index values per Revenue Regulation No. 8-2021 dated June 11, 2021.