BIR Ruling No. 692-2019

REPUBLICOF THE PHILIPPINES

BUREAU CF INTERNAL REVENUE DEFAKTMENT OF FINANCE

Quezo City

Certificate of Tax Exemption No:

CERTIFICATE OF TAXEXEWTTION

T ALL WHOM YT MA Y CONCERN:

Inis certifies that TANZA PROPERIIES H INC., with Taxpayer Identification

ircme received directly in connection with its economic and low-cost housing project Narder is exempt from ir.come tax and creditable withhoiding tax on its

(h. :rizontal), PHirst Park Homes Tanza. Phase 2A, consisting of 486 house and lot units used Soery for faniiy home or dweiling purposes located at Brgy. Tarauan, Tanza, Cavite, a project d.' registered with the Board of Investments (BOI) under Registration No. dated Sepiember 25. 2017, for a period of 4 years beginning from January 2018 or actual stant of conierciai eperations/selling, whiche\er is earlier, but in no case earlier than the date of re i sir& isi cf the projeet with the BOI, pursuant to Executive Order No. 226, otherwise known as th "O.nnitus Investments Code of 19$7" and Section 2.57.5 (B)(2) of Revenue Regulations N. 2-98. as amended.

Moreover, the sale by the Company of residential lot valued at P1,919,500.00 and

beiew, or house and lot and other residential dwellings valued at P3,199.200.00 and below. is v --T-exempt under Section 109(1)(P) of the National Internal Revenue Code of 1997, as arnended. Provided, however, that begin.ting January 1, 2021, the VAT exemption shall only appiy to saie of house and lot and other residential dwellings' with selling price of not more than Twc Miilion Pesos (P2.000,000.00)

Tne sale of house and lot units in excess of the 4862 house and lot units including those u.:is usea for commercial purposes such as leasing, retail stores, offices, etc., shall be subject tc appropriate taxes under the National Irten:al Revenue Code of 1997, as amended.

The grant of tax exenption hereir is sutjeet to the complianee with the provisions of

ar plicable BiR rules and regulations and the Terms and Conditions stated at the back hereof. Tie Ccmpany is liable, however, for ail other applicable taxes not discussed above.

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

Issuea this -day o:

AOtCy CAESAR R. DULAY

K--JAC Commissioner of Internal Revenue 03032 4

i Saie cf iol orly. regardless of' the pr:ce. shall be sutject to V AT starting January 01, 2021 pursuant to RA No. 10963. :i-r.i0tc!inirs Ise to Sell No. :tsis Leense te Sell No.