BIR Ruling No. 270-2017

REPUBLIC OF THE PHILIFPINES

BUREAU OF INTERNAL REVENUE DEPARTMENT C F FINANCE Quezon City

Certificate of Tax Exemption No:

270--2017

CERTIFICATE OF TAX EXEMPTION

TO ALL WHOM IT MAY CONCERN:

This certifies that ZEPHYR CONSTRUCT PHILIPPINES, INC..with Tax

(NHA), is exempt from project-related income taxes, creditable withholding tax and value Identification Number an entity engaged by the National Housing Authority

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

December Notice of December Date of 4,2014 Award 4,2014 Agreement Contract April 13. April 13. Date of 2015 2015 Contract Price (Php) Villa Regeneracion Project-Site 1 Villa Project-Site 2 Regeneracion Project Name Estancia.Iloilo Estancia, Iloilo Brgy. Gogo Brgy. Gogo. Location exemption Subject of Socialized Housing No. of Units 340 340 tax

PHILIPPINES, INC. shall be subject to VAT, even if the said purchases are to be used for However. the purchases of goods/articles by ZEPHYR CONSTRUCT

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 ZEPHYR' CONSTRUCT PHILIPPINES, INC. must issue non-VAT official receipts on its gross receipts from the said socialized housing project.

This Certificate of Tax Exemption is being issued on the basis of the facts and 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.

Issued this day of_JUN 0 5 2O1Z

NOy

Commissioner of Internal Revenue CAESAR R. DULAY 8 006934 K-1