BIR Ruling No. 389-2021

REPUBLIC OF THE PHILIPPINES

BUREAU OF INTERNAL REVENUE DEPARTMENT OF FINANCE

Quezon City

Certificate of Tax Exemption No: Nsh.389-2.02l

CERTIFICATE OF TAX EXEMPTION

TO ALL WHOM IT MAY CONCERN:

This certifies that NBCDC Corp., with Taxpayer Identification Number (TIN) is exempt from project-related income taxes/creditable withholding tax (CWT) pursuant to Section 20 (d) (1) of Republic Act (RA) No. 7279, as amended by RA No. 10884 (Baianced Housing Development Program Amendments) dated July 17, 20i6, on its income received directly in connection with the acquisition of 500 (250 duplex) fully developed lots and completed housing units in Mt. Samat Vijle Housing Project, a socialized housing project of the NHA under the NHA's Government Employees Housing Program including AFP/PNP/BFP/BJMP/BuCor, located at Brgy. Tuyo, Balanga City, Bataan.

Moreover, the delivery of the said 500 (250 duplex) fully developed lots and completed housing units shall be exempt from value-added tax (VAT) pursuant to Section 109 (1) (P) of the National Internal Revenue Code (Tax Code) of 1997, as amended, provided that the selling

and other residential dwellings' with selling price of not more than P3, 199,200.00.2 price thereof does not exceed P3,199,200.00 per house and lot package; provided further, that beginning January 01, 2021, the exemption from VAT shall only apply to sale of house and lot

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

favor of the NHA over the parcels of land described below, to wit: Furthermore, the Unilateral Deeds of Absolute Sale executed by the Landowner/s in

May 17, May 17, May 17. May 17. May 17. Date 2021 2021 2021 2021 2021 Ma. Angela Valenzuela, married to Luis Carmelo Valenzuela Manuel Carlos L. Ilagan, Jr. Manuel Carlos L. Ilagan, Jr. Evangeline Yang Lapus Evangeline Yang Lapus Name of Landowner/s Certificate of Title Transfer/Original (TCT/OCT) (Sq. m.) 18,371 9,566 1,453 2,578 3.873 Area Transferred (Sq. m. 9,3 84 18,37 1,453 1, 254 Area 832 Location

: Sale of lot only, regardless of the price, shall be subject to VAT starting January 01, 2021 pursuant to RA No. 10963 2 As adjusted using the 2010 Consumer Price Index values per Revenue Regulations (RR) No. 8-2021 dated June 11, 2021.

NBCDC CORP. (Mt. Samat Ville Housing Project) Date issued. CTE No.: NSH. 38 9 - 2oZl OCT 18-2021

May 17. 2021 Heirs of Sps. Pablo Sanchez and Sinforosa Mendoza3 OCT No 4,850 4,850 May 17 2021 Heirs of Sps. Pabio Sanchez and Sinforosa Mendoza OCT N 42,3 54 31,469

tax/capital gains tax/expanded withholding tax and documentary stamp tax pursuant to Sections 19.and 20 Of RA No. 7279 and to VAT pursuant to Section i09 (1) (P) of the Tax Code of which shall be used for the above mentioned socialized housing project, is not subject to income 1997, as amended.

be applied or are being applied to a socialized housing project pursuant to RA No. 7279. submitted. However, if upon investigation, the BIR ascertains that the facts are different, then this Certificate shall be considered null and void. complete requirements provided under Revenue Memorandum Order (RMO) No. 15-2003. the Register of Deeds having jurisdiction over the properties, to the effect that the same are to authority to register issued by this Bureau. In this regard, this CTE shall be presented to the Revenue District Office (RDO) concerned in order for the latter to issue' the Certificate Authorizing Registration (CAR). The CAR shall only be issued after submission of the intended and shall not be construed as giving authority to the concerned Register of Deeds to effect transfer of the land titles in the name of the NHA without the necessary certificate of This CTE is being issued on the basis of the facts and documents as represented and Upon application for exemption, a lien-on the titles of the land shall be annotated by It is, however, understood that this Certificate of Tax Exemption (CTE) is never

Issued this day of OCT 1 8 2021

Oeowe

K! Commissioner of Internal Revenue CAESAR R. DULAY F 046373

3 This CTE does not include exemption from estate tax which may be due, if any, on the estate of Sps. Pablo Sanchez and 4 Ibid Sinforosa Mendoza

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