BIR Ruling No. 607-2017

REPUBLICOF THE PHILIPPINES

BUREAU OF INTERNAL REVENUE DEPARTMENT OF FINANCE

Quezon City

Certificate of Tax Exemption No: S07-2C17

CERTIFICATE OF TAX EXEMPTION

TO ALL WHOM T MAY CONCERN:

This. certifiesthatRFNCONSTRUCTIONAND DEVELOPMENT CORPORATION/BUMBARAN DEVELOPMENT CORPORATION - JV (TIN:

project-reiated income taxes. creditable withholding tax and value added tax (VAT). pursuant an entity engaged by the National Housing Authority (NHA). is exempt from

connection with the construction/development of socialized housing units under the NHA's to Section 20 (d)(1) and (3) of Republic Act No. 7279, on its income received directly in Yolanda Permanent Housing Program, to wit:

June 20. 2016 Notice of Date of Award June 29.2016 Agreement Contract Date of Contract Price {(Php) Estancia Villas- Project Name Site 2 Estancia, lloilo Location Tacbuyan. Brgy. No. of Socialized Housing Units subject of tax exemption 500

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 shall be understood that RFN CONSTRUCIION AND DEVELOPMENT CORPORATION/BUMBARAN DEVELOPMENT CORPORATION/BUMBARAN DEVELOPMENT CORPORATION -- JV sh a 1 1 However, the purchases of goods/articles by RFNCONSTRUCTIONAND

DEVELOPMENT CORPORATION-JV must issue V AT-Exempt official receipts on its gross receipts from the said socialized housing projcct.

favor of the NHA over the parcels of land described below, to wit: Moreover, the Deed of Absolute Sale/ Unilateral Sale Executed by the Landowners in

June 29, 2016 Date of Deed of Sale Landowner/Seller Estrella S. Parker and Virginia S. Name of Marks! Certificate of 'Title Transfer No. 222.014 {Sq.m.) Area Transferred 33.522 Area Estancia, tloilo Tacbuyan. Location Brgy. Ciy

which shall be used for the above-mentioned socialized housing project. is not subject to capita! gains tax and documentary stamp tax under Sections 19 and 20 of Republic Act (RA) No. 7279

Bumbaran Development Corporation -- Jy Page 2 of 2 RFN Construction and Development Corporation/ Date issued 1-14-207 CtE No. 607-2017

as giving authority to concerned Register of Deeds to effect transfer of the land titles in the name of the buyer without the necessary Certificate Authorizing Registration (CAR) issued by this Bureau. In this regard, this CTE shall be presented to the Revenue District Office (RDO) concerned in order for the latter to issue the CAR. It is. however. understood that this CTE is never intended, and shall not be construed.

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

Issued this day of DEC 1 L 2017

M UROM

Commissioner of Internal Revenuc CAESAR R. DULAY

011748 K-1-JAC