BIR Ruling No. 267-2022

BUREAU OFONTERNAL REVENUE REPUBLIC OF THE PHILIPPINES DEPARTMENT OF FINANCE

Certificate of Tax Exemption No: BOI-LeH-. 761 T

CERTIFICATE OF TAX EXEMPTION TO ALL WHOM IT MAY CONCERN:

its income received directly in connection with its economic and low-cost housing project, house and lot units used solely for family home or dwelling purposes, located at Brgy. Garlang, San Ildefonso, Butacan, a project duly registered with the Board of Investments Investments Code of 1987" and Section 2.57.5 (B) (2) of Revenue Regulations (RR) No. 2-98, Camella San Ildefonso BP 220 -- Brgy. Garlang, San Iidefonso, Bulacan, consisting of 232 BOI, pursuant to Executive Order (EO) No. 226, otherwise known as the "Omnibus as amended. Number (TIN) (BOI) under Certificate of Registration No. of 3 years beginning from October 2021 or actual start of commercial operations/selling whichever is earlier, but in no case earlier than the date of registration of the project with the This certifies that COMMUNITIES BULACAN, INC. with Taxpayer Identification is exempt from income tax and creditable withholding tax on dated October 05, 2021, for a period

shalil' only apply to sale of house and lot" and other residential dwellingst valued at 1997, as amended. Provided, however, that beginning January 01, 2021, the VAT exemption below, or house and lot and other residentiai dwellings valued at P3,199,200.00 and below, is P3,199,200.002 VAT-exempt under Section 109(1)(P) of the National Internal Revenue Code (Tax Code) of Moreover, the sale by the Company of residential lot valued at P1,919,500.00 and

registered with the BOI, if any, including those units used for commercial purposes such as leasing, retail stores, offices, etc. shail be subject to the payment of appropriate taxes under the Tax Code of 1997, as amended. However, the sale of house and lot units in excess of the 232 house and lot units

applicable BIR rules and regulations and the Terms and Conditions stated at the back hereof. The Company is liable, however, for all other applicable taxes not discussed above. 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 MAY 2 7 2022

K-1 -G PS By: MarissA @. cabreros Deputy Commissioner Officer-in-Charge Legal Group 0 896 Commissioner of Internal Revenue CAESAR R. DULAY

2 As adjusted using the 2010 Consumer Price Index values pursuant to RR No. 8-2021 dated June t1, 2021. I Sale of lot only, rega Subjecf to VAT starting January 01, 2021{pursuant to RA No. 10963.

Camella San Ildefonso BP 220 page 2 of 2 Date issued_MAY_7 7 2022 CTE No. BOY-LEH- 2 6 7 - 2 0'2 2

OF THE CERTIFICATE OF TAX EXEMPTION TERMS AND) CONDITIONS

1 The exemption from income and creditable withholding taxes covers only income directly home or dwelling purposes focated at Brgy. Garlang, San Hdefonso, Bulacan. attributable to the revenues generated from the project, Camella San Ildefonso BF 220 -- Brgy. exemption shall not cover revenues from units with selling price exceeding Moreover, the 232 housins uinits covered by Provisional License to Sell No. Garlang, San Ildefonso, Bulacan, consisting of 232 house and lot units used solely for family be sold for more than F per house and lot. shall not Such

2. The enterprise shall observe the following project timetable:

Milestone Investment Cost and Schedule

Total Project Cost Site Preparation and Development Building/House Construction Start of Commercial Operations November 2019-December 2024 July 2019 - October 2021 - December 2024

3. In the computation of the project's ITH, interest income from in-house financing shall not be

considered as part of the revenues generated from the registered housing project.

4. The Company's entitlement to ITH for its BOI-registered housing project is subject to the

compliance with the provisions of the Specific Terms and Conditions of its BOI Registration.

5. Pursuant to Section 4 of Republic Act (RA) No. 107083, the Company is required to file its tax returns and pay its tax liabilities, on or before the deadline as provided under the Tax Code of 1997,

as amended, using the electronic system for filing and payn ent of taxes of the BIR. It shall file with BOI a complete annual tax incentives report of its income-based tax incentives, VAT and duty

Joint Memorandum Circular No. 1-2016 dated September 1, 2016. exemptions, deductions, credits or exclusions from the tax base, as may be provided under EO No. 226, within the periods prescribed under RA No. 10708's Implementing Rules and R.egulations and

6. The Company shall be constituted as a withholding agent for the government if it acts as employer and any of its employees received compensation income subject to compensation withholding tax. or if it makes payments to individuals or corporations subject to the withholding taxes as source as required under Chapter XIII and Section 57 of the Tax Code of 1997, as amended. and implemented

by RR No. 2-98, as amended.

I . The Company is required to file on or before the 15t day of the fourth month following the close

of its accounting period of a Profit and Loss Statement and Balance Sheet with the Annual Information Return under oath, stating its gross incoime and expenses incurred during the taxable year.

8. Finally, the Company's books of accounts and other pertinent records shall be subject to periodic

examination by revenue enforcement officers of this Bureau for the purpose of ascertaining whether it is complying with the conditions under which it has been granted tax exemption or tax incentives and its tax liability, if any, pursuant to Section 235 of the Tax Code of 1997, as amended.

An Act Enhancing Transparency in the Management and Accounting of Tax Incentives Administered by Investment Promotion Agencies.