BIR Ruling No. 628-2020

BUREAU OF INTERNAL REVENUE REPUBLICOFTHE PHILIPPINES DEPARTMENT QE FINANCE Quezon City

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Certificate of Tax Exemption No: NCH-0628-2020

CERTIFICATE OF TAX EXEMPTION

TO ALL WHOM IT MAY CONCERN:

exempt from project-related income taxes, creditable withholding tax, and value-added tax RA No. 10884 (Balanced Housing Development Program Amendments) dated July 17, 2016, on its income received directly in connection with the Land Development of Banilad Plains View Housing Project Phase I under the NHA's Socialized Housing Program, to wit: (VAT), pursuant to Section 20 (d)(1) and (3) of Republic Act (RA) No. 7279, as amended by (TIN) This certifies that PHILSOUTH BUILDERS with Taxpayers Identification Number , an entity engaged by the National Housing Authority (NHA), is

December Notice of 16, 2015 Date of Award Agreement March 20. Contract May 12, Date of 20161 20162 Contract Price 19,488,283.00 (Php) Land Development of Banilad Plains Project Phase 1 Project Name View Housing Dumaguete City. Negros Oriental Brgy. Banilad, Location No. of Socialized Lots Generated Subject of Tax Exemption 403

gross receipts from the said socialized housing project. since VAT is an indirect tax which can be passed on by the seller of the goods/services. It shali be understood that PHILSOUTH BUILDERS must issue VAT-exempt official receipts on its Subject to VAT, even if the said purchases are to be used for the said socialized housing project, However, the purchases of goods/articles by PHILSOUTH BUILDERS shall be

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 NOV 0 3 2020

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K-1-LMAT Commissioner of Internal Revenue CAESAR R. DULAY 037464

2 Date acknowledged by the NHA. Date acknowledged by PHILSOUTH BUILDERS