BIR Ruling No. 409-2018

ER REPUBLIC OI THE PHILIPPINES

DEPARTMENT OF FINANCE

YTPP 190. BUREAU OF INTERNAL REVENUE Quezon City

Certificate of Tax Exemption No. 409-2018

CERTIFCATE OF TAX EXEMPTION

issued to

Kanejin Corporation Name of Seller TIN 323-B Legaspi Towers 300 Roxas Blvd., Manila Address

-and

Name of Homeowners Association (HOA) Madja-As Homes Homeowners Association, Inc TIN Campo Verde St., Group 2 Area B, Brgy. Payatas, Quezon City Address

09, 2016 over a parcel of land described below, to wit; This certifies that the Deed of Absolute Sale entered by the Seller and the HOA dated August

Transfer Certificate of Title (sq.m.) Area Transferred (sq.m.) Area of CMP (sg.m.) Location

Campo Verde St., Group 2 Area B, Brgy. Payatas, Quezon City being a Community Mortgage Program (CMP), is not subject to capital gains tax pursuant to Section 32 (b) of Republic Act (RA) No."7279, or the Urban Devetopment and Housing Act of 1992. The transaction is, however, subject to documentary stamp tax under Section 196 of the of 1997 Tax Code, as amended.

only be issued after the submission of the requirements provided under Revenue Memoranduin Order not be construed as giving authority to the concerned Register of Deeds to effect transfer of the land title in the name of the buyer without the necessary certificate of authority to register issued by this Bureau. In this regard, this Certificate shall be presented to the Revenue District Office (RDO) concerned in order for the latter to issue the Certificate Authorizing Registration (CAR). The CAR shali (RMO) No. 15-2003 It is, however, understood that this Certificate of Tax Exemption is never intended and shall

occupants of the property transferred under the CMP are qualified beneficiaries and therefore, the seller is entitled to exemption from capital gains tax or income tax imposed under Sections 24 (D)(1) and/or 27 (D)(5) the National Internal Revenue Code of 1997, as amended. The Bureau of Internal Revenue (BIR) shall conduct verification and post-audit that the actual

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

Issued this day of MAR 0 9 2018

1E cr

K-I-JAC Commissioner of Internal Revenue CAESAR R. DULAY 014132 : Shatl be proportionately distributed to the association's qualified member-beneficiaries (See Annex)

E