BIR Ruling No. 462-2021

REPUBLIC OF THE PHILIPPINES DEPARTMENT OF FINANCE BUREAU REVENUE Certificate ofTax Exemption No: -ten:^ - ii 3 2 - i. g I s CERTIFICATE OF TAX EXEMPTIO TO ALL WHOM IT MAY CONCERN: This certifies that BRIA HOMES,INC'. with Taxpayer Identification Number(TIN) I "" )0, is exempt from income tax and creditable withholding tax on its income received directly in connection with its economic and low-cost housing project, Bria Flats Mactan BIdg. 1 - Brgy. Sudtonggan, Basak, Lapu-Lapu City, Cebu, consisting of 80 residential units used solely for family home or dwelling purposes, located at Brgy. Sudtonggan, Basak, Lapu-Lapu City, Cebu, a project duly registered with the Board of Investments(BOI)under Certificate ofRegistration No.; dated May 6,2019, for a period of4 years beginning from May 2019 or actual start ofcommercial operations/selling, whichever is earlier, but in no case earlier than the date of registration ofthe project with the BOI, pursuant to Executive Order (EO) No. 226, otherwise known as the "Omnibus Investments Code of 1987" and Section 2.57.5(B)(2)ofRevenue Regulations(RR)No.2-98, as amended. Moreover, the sale by the Company of residential lot valued at PI,919,500.00 and below, or house and lot and other residential dwellings valued at P3,199,200.00 and below, is VAT-exempt under Section I09(1)(P) of the National Internal Revenue Code(Tax Code)of 1997, as amended. Provided, however, that beginning January 01, 202], the VAT exemption shall only apply to sale of house and lot and other r?sidential dwellim?s2 with selling price of not more than P3,199,200.00^. However,the sale ofresidential urits in excess ofthe 80 residentiai units registered with the BOI, if any, as well as the 10 parking slots'*, including those un ts used for commercial purposessuch as leasing,retail stores,offices,etc.shall be subjectto the paymentofappropriate taxes under the Tax Code of 1997, as amended. The grant oftax 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 all other applicable taxes not discussed above. 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 PPC \ i_ K-l-GPS CAESAR R.DULAY Commissioner of Internal Revenue 047 7 7 1 'Formerly;Casa Regalia.� icorporated 'Sale oflot only, regardless o''thc price,shall be subject to V.\T startiiu',.laa'.Ci-y 01.202! pursuant to RA No 10963. 'As adjusted using the 20 (I Consiimer Price Index values pursuant to RR No S-2021 dated June 1 1,202|l * Per HLURB License to Sell No.