BIR Ruling No. 620-2017

REPUBLIC OF THF PHILIPPINES

DEPARTMENT OF FINANCE BUREAU OF INTERNAL REVENUE Quezon (ity

LIPPIN

Certificate of Tax Exemption No:

620-20 17

CERTIFICATE OF TAX EXEMPTION

TO ALL WHOM IT MAY CONCERN:

(RA) No. 7279 on its income received directly in connection with its sale of socialized housing iocated at Purok Mangga. Poblacion, Maragusan, Compostela Vatley Province. a project duly registered with the Housing and tand Use Regutatory Board (lt URB) under Certificate of housing units does not exceed P450.000.00 for house and lot packages. and P180.000.00 for lots only withholding tax (CWT) and value-added tax (VA : 1 pursuant to Seetion 20 of Republic Act units to qualitied beneticiaries in Kim James Homes Suhdivision, consisting of 59 units. Registration No. Tax Idenuitication Number (TIN) This certifies that TAGUM BULDERS CONTRACTORS CORPORATION with and t.icense to Sell No. is exempt from income tas, creditabte provided that the selling price ot said

pursuant to Seetion t 09+)(P) of the National Internal Revenue ('ode of 1997, as amended subject to ineome tax. (W'I and Dsf, but are exeinpt from VA't provided that the selling price thereof does not exceed P1.919,500.00 for residentiat tot, and P3.199.200.00 for house and lot. With regard to the 119 economic housing units within the same project, the same are

the owner and the projeci devetoper shall be liable to pay the DST on the documents conveying the properties imposed under Section 196 of the National Internal Revenue Code of 1997. as market value determined in accordanee with Section 6 (E) ot the same Code. whichever is covered hy the tax exemption clause in Section 20 ot RA No. 7279. Such heing the case. both amended, based on the consideration contracted to be paid for such realties or on their fair higher. It is observed, however, that documentary stamp tav (DST) is not one of the taxes

The Company is Hiable, however. for other applieable taxes not diseussed above. applicable BiR rules and regulations and the Terms and Condiions stated at the hack hereot. The grant of tax exemption herein is subject to the compliance with the provisions of

that the facts are ditferen. then this C'ertificate shall be considered null and void. documents as represented and submitted. However, Tf upon investigation. the BiR ascertains Phis Certitieate ot Tax Exemption is heing issued on the basis of the facts and

Issued this day of

uom

TK-I-IMAT Commissioner of internal Revenue CAFSAR R. DUAY 0117 59

TAGEM BULDERS CONTRACTORS CORPORTN (TE NO. Date issued .1218-2017 620-23 17

OF THF CERTIFICATE OF TAX EXEMPTION TERMS AND CONDITIONS

I The exemption fron incone. creditable withholding taxes and VAT sovers only income

residential fot. and P3.199.200.00 for house and lot, pursuant to Section 109(1XP) of the Nationat internal Revenue Code ot' 1997. as aended. directly attributabie to the revenues generated from the 54' socialized housing units in Kim James Homes Subdivision located at Purok Mangga. Poblacion, Maragusan, Composteta from VA7 only. provided that the selling price thereof does not exced'P1919.500.00 for Valley Province. Moreover. the t19 economic housing units in the same project are exempt

2 The developer shall submit the sworn statement of the buyer that he is eligible as a socialized housing beneficiary under Section 5 (A1 of Revenue Regetations (RR) No. I1-97 to the BiR title of the soctalived housing unit. during the processing ot the Certificate Authorizing Registration (CAR) :or the transter ot the

3. It is understood that the G'ertificate Authorizing Registration (CAR ) shall only be issued after it is established upon proper verification hy the Revenue District Ofticer (RDO) coneerned that. considering the ruies on valuation of reat property, the actual seiling price per sale transaction of the sociatized house and tot packages in this easc does not really exceed P450.000.00 and] P180.000.00 for lot ony.

List of Saleable Socialized Housing.Units (with a maximum price of P450.000.00 house & tot package}

Block No. ( 1 :r. Lot No. to 2 to22 2 to2 2 to 9 Totat # of Lots S I 9 2 Area (sq. m.) 4.730 1680 I.9 880 64

S List of Saleabte Economie Hossing Units (with a maximum price of P1.250.000.00:house and)

{ot package)

Block No. 2 C T and3 Lot No. I to 22 [ 1o [0 I o!7 1 to 3 Lto 3 [3 # of Lots 2 3 1 1:} 3 Area (sq. u.) 3.302 3.52 F 252 1795 2352 13 4

o 1 00

1S( Total 9 12,928

+ The maximun setling price is pegged at 450.000.00 based on H1.t RB 1 icense t Sell No The maxintm seling price is pepzed at I.250.00 hused on +H t+RB I icense Io Sell No.