BIR Ruling No. 428-2017

RPIBIIIIPHPPNIS PEOHAM BUREAEOIINTIRNAIREVINEI

QucAon Cit}

BIR RuiH . RA TS5.

LAMESA ST. VHLF HOMEOWNERS ASSOCIATHON ING I anesa St.. I gong ValenvuclaGi

Atention: Luis A. Jugucta President

Gentlemen:

Exemption fron capitat gains tax (CGt) on the sale of a pareel of land executed bs Ms Delna R. Ramos in Tavor of the HAMESA Si. V!LIt IoMEOWN!RS ASSOCIAT ION. INC. CLAMESA ST. VHLLE HOA(). This refers to your ietter dated October 3. 2014 requesting for Certificae of

Deed of Sale over the subject parcel of land was executed hy and between Xis. Delfina 2012: that the LAMESA ST.VILLE HOAI offered to bny the above pareet Mt iand fo! of Agreement tor the purehase of the aforesaid pareel of land for thw beuetit of the tor the 2%% Congressional District of Valenzueta City: and that on Oetober 9. 2014. a R. RanioS and th LAMESA ST. VILLE HOAI. Registry of Deeds for Valenvueta City. containing an area of One Thousand (t.o0o) St. VH.t.E HOAI is a homeowner's organization duly registered with the Housing and Land Use Regulatory Bourd (HLt iRB) with Registration No Congressional District of Valen/ueia City. represented by Iton. Magtangaol T. Gunigondo l and the National Housing Authority (NHAy entered into a Menorandum) member: of the I.AM} SA SI. VHL.F HOAI using the Loeal Housing Fund allocation ot a pareel of land covered by Transfer Certiticate ot ritle (t( T) Ne. Square meters located at t.a Mesa St.. Brgy. ( gong. Valenzuela City: that the t.AM+ .SA 16. 2013. Ms. Delfina R. Ramos. the L.AMFSA ST. VHUF. HON. the 21 a total cost of Docunients submiuest show that Ms. Delfina R. Ramos is the registered owner I da{cd Fchtuarv 27 : that ou May n the

area of I.000) square meters. located at ta Mesa Street. Brgy. Ugorg. Valenzucla (ity beneticiarics ot IAMESA ST. VILF HOAI are qualiicd tor soctalived housine assistance as preseribed in Section 16 of RA No. 7279 Housing Fund carmarked for Congressional Distriet H of Valen/uela City. The NHs ot its purchase by the L.AMESA ST. VU.LF HOAI. Moreover. the NA nIso certticd tha the Local {ousing Program(LHP) availed by the {AMESA S+.V!L HOAI is u Cost Recoverable Socialized Housing Project under RA No. 7835: and that nember turther certiried that the subject lot was raw'vacant tot. with no imnprev ement at the time ot covered bs 'tc'r No. was acquired hy the LAMESA ST. VHLLI HOAI through a foan availed trom the i.oeal The NHA. in its Certification issued on September 14. 2015. certitied that the registered in the name of Delfina Ramos. w ith an

Soeialeedousne Prooet .S T. Y Pange 2 of 2

soeiatized housing proieet thar is exphcity given exemption trom cdt umder RA No 7279 is the (ommunity Morigage Program(CMP+ Project. Since the suhject lolcovered exemplon for a cost recoverahle soctalized housing projeet. On the other hant. the bv ICT No. In reply. pleaat be intormed that RA No. 7835 does mot pro id: ary ta ts not a CMP proieet. it is not covered by the tax evemtpiion set forth under RA No. 727}

Iack of legal basis. In view thereof. ve regret to deny your request for exempuion from ((rt tor

Picase be auided aceordingly.

Very trulk yours.

Commissioner ot lnterna Revene CAESARR.DUAY

K

Resource Management Group Deputy Commissionar Officer-In-CharRe CeLiA C. King AA