BIR Ruling No. 641-2017

REPUBLIC OF THE PHILIPPINES

DEPARTMENT OF FINANCE BUREAU OF INTERNAL REVENUE

Quezon City

Certificate of Tax Exemption No:

CERTIFICATE OF TAX EXEMPTION

TO ALL WHOM IT MAY CONCERN:

7279 on its income received directly in connection with sale of socialized housing units to qualified beneficiaries in Molave Homes Alabel, consisting of 587 units located at Brgy. Maribulan, Alabel, Sarangani, a project duly registered with the Housing and Land Use Regulatory Board (HLURB) under Certificate of Registration No. No. tax, creditabie withholding tax and value-added tax (VAT) pursuant to Section 20 of RA No. CORPORATION, with Tax Identification Number This certifiesthat ALSONS DEVELOPMENT AND is exempt from income and License to Sell INVESTMENT

by the tax exemption clause in Section 20 of RA No. 7279. Such being the case, the owner/project developer/seller shall be liable to pay the documentary stamp tax on the documents conveying the properties imposed under Section 196 of the Tax Code of 1997, as amended, based on the consideration contracted to be paid for such realties or on their fair market value determined in accordance with Section 6 (E) of the said Code. whichever is higher. Nonetheless, it is observed that documentary stamp tax is not one of the taxes covered

The Company is liable, however, for all other applicable taxes not enumerated above. applicable BIR rules and regulations and the Terms and Conditions stated at the back hereof. The grant of tax exemption herein is subject to the compliance with the provisions of

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 DFC 1 9 2017

S u0

K-1 Commissioner of Internal Revenue CAESAR R. DULAY 011947

ALSONS DEVELOPMENT AND INVESTMENT CORPORATION Page 2 of 2 Date issued CTE No.

OF THE CERTIFICATE OF TAX EXEMPTION TERMS AND CONDITIONS

1 The exemption from income, creditable withholding taxes and VAT covers only income consisting of 587 units, iocated at Brgy. Maribulan, Alabel, Sarangani. Such exemption shal directly attributable to the revenues generated from the project, Molave Homes Alabel packages and P180,000.00 for lots only. cover revenues from 587 units with selling price not exceeding P450,000.00 for house and lot

2 The developer shall submit the sworn statement of the buyer that he is eligible as a socialized

housing beneficiary provided under Section 5 (A) of R.R. No. 1 1-97 to the BIR during the processing of the Certificate Authorizing Registration (CAR) for the transfer of the socialized housing unit.

3. It is understood that the Certificate Authorizing Registration (CAR) shall only be issued after it is established upon proper verification by the Revenue District Officer (RDO) concerned that. considering the rules on valuation of real property, the actual selling price per sale transaction of the house and lot packages in this case does not really exceed P450,000.00 and P180,000.00 for lot on ty.

4 List of Saleable lots: socialized Housing (Seil only at a maximum price of P450.000.00/house & Lot package)

B1k. 3 No. 4 2 Y I to 46 i to 46 Lot No. 1 to 36 1 to 46 1 to 42 42 # of Lots 36 46 46 46 No. B1k. 1 14 13 IS 12 Lot No. to 20 I to 18 1 to 13 I to 19 1 to 27 # of 27 Lot 20 1 8 13 1

6 09 10 0 1 to 39 1 to 3 6 1 to 45 1 to 18 I to 16 39 31 45 1 8 16 1 1 1 9 20 16 total I to 13 I to 25 I to 20 1 to 30 I to 32 587 32 13 2 20 30

S Blocks 1 to 8, 16, 17 and 20 are allocated for the 20% compliance to the socialized housing development requirement under Section !8 of RA 7279 for the "Narra Park Residence" Project Iocated in Brgy. Tigatto, Buhangin District. Davao City