BIR Ruling No. 310-2022

REPUBLIC OF THE PHILIPPINES

DEPARTMENT OF FINANCE BUREAU OF INTERNAL REVENUE

Quezon City

DP Certificate of Tax Exemption No:

PSH-310-202

CERTIFICATE OF TAX EXEMPTION

TO ALL WHOM IT MAY CONCERN

This certifies that 8990 HOUSING DEVELOPMENT COPPORATION, with Taxpayer Identification Number withhoiding tax (CWT pursuant to Section 2v d1 of Republic Act (RA No.7279,as , is exempt from incoine tax and creditable

amended by RA No. 10884 (Balanced Housing Development Program Amendments dated July 17,2016, on its income received directly in connection with its sale of socialized house and lot units for residential and dwelling purposes to qualified beneficiaries in Deca Homes Ormoc Gregoria Residences Phase 2 (2A&2B) consisting of 702 house and lot units, used solely for family home or dwelling purposes, located at Brgy. Concepcion, Ormoc Ci y, a project duly registered with the Department of Human Settlements and Urban Development DHSUD under Provisional Certificate of Registration No. and Provisional

License to Sell No.

Moreover, beginning January 01,2021, the sale of House and lot and other residential

dwellings valued at P3,199,200.00 and below,is exempt from value-added tax (VAT) pursuant to Section 1091P) of the National Internal Revenue Code Tax Code of 1997,as amended. Also, beginning January 01, 2021, sale of residential lot, regardless of value, shall now be subject to VAT

It is observed, however, that documentary stamp tax (DST is not one of the taxes

covered by the tax exemption clause in Section 20 of RA No. 7279.Thus,the documents

conveying the properties shall be subject to DST imposed under Section 196 of the Tax Code of 1997, as amended, based on the consideration contracted to be paid for such realties or on their fair market value determined in accordance with Section 6 (E) of the same Code. whichever is higher. Likewise, lots/units classified as Economic Housing, not being covered by RA No. 7279, shall be subject to the payment of appropriate taxes.

The grant of tax exemption herein is subject to the compliance with the provisions of applicable BIR rules and regulations and the Terms and Conditions stated at the back hereof. The Company is liable, however, for other applicable taxes not discussed above.

This Certificate of Tax Exemption is being issued on the basis of the facts and docurients 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 2 4 2022

Mbua

CAESAR R.DULAY Commissioner of Internal Revenue 051947 K-MDT

8990 HOUSING DEVELOPMENT CORPORATION PAGE 2 OF 2 CTE: PS+ f 3 10 - 202 2 DATE: JUN 2 4 2022

OF THE CERTIFICATE OF TAX EXEMPTION TERMS AND CONDITIONS

1 The exemption from income and creditable withholding taxes covers only income directly attributable to the revenues generated from the project,Deca Homes Ormoc Gregoria

Residences Phase 2 (2A & 2B), consisting of 702 house and lot units, located at Brgy. Concepcion, Ormoc City

2 The developer shall submit the sworn statement of the buyer that he is eligible as a socialized housing beneficiary under Section 5 (A) of Revenue Regulations (RR) No. 11-97 to the Bureau of Internal Revenue (BIR during the processing of the Certificate Authorizing Registration

(CAR) for the transfer of the title of the socialized housing unit.

3 It is understood that the CAR shall only be issued after it is established upon proper verification by the Revenue District Officer (RDO) concerned that, considering the rules on valuation of real

property, the actual selling price per sale transaction of the unit in this case does not really exceed D