BIR Ruling No. 608-2017

REPUBLIC OF THE PHILIPPINES DEPARTMENT OF FINANCE BUREAU OF INTERNAL REVENUE

Quezon City

Certificate of Tax Exemption No: 608-2017

CERTIFICATE OF TAX EXEMPTION

TO ALL WHOM IT MAY CONCERN:

This certifiesthatRFN CONSTRUCTION AND DEVELOPMENT CORPORATION/BUMBARAN DEVELOPMENT CORPORATION - JV (TIN: ), an entity engaged by the National Housing Authority (NHA), is exempt from project-reiated income taxes, creditable withholding tax and value added tax (VAT), pursuant to Section 20 (d)(1) and (3) of Republic Act No. 7279, on its income received directly in connection with the construction/development of socialized housing units under the NHA's Yolanda Permanent Housing Program, to wit:

May 10. 2016 Notice of Date of Award June 17,2016 Agreement Contract Date of Contract Price (Php) Project Name Residences Estancia Estancia, tloilo Tacbuyan. Location Brgy No. of Socialized Housing Units subject of tax exemption. 1.000

project, since VAT is an indirect tax which can be passed on by the seller of the goods/services. It shall be understood that RFN CONSTRUCTION AND DEVELOPMENT VAT-Exempt official receipts on its gross reccipts from the said socialized housing project. JV shall be subject to VAT, even if the said purchases are to be used for the socialized housing DEVELOPMENT CORPORATION/BUMBARAN DEVELOPMENT CORPORATION - CORPORATION/BUMBARAN DEVELOPMENT CORPORATION - JV must issue However, the purchases of goods/articles by RFN CONSTRUCTION AND

favor of the NHA ovcr the parcels of land described below, to wit: Moreover, the Deed of Absolute Sale/ Unilateral Sale Executed by the Landowners in

Date of Deed June 17,2016 of Absolute Sale Landowner/Seller Estrella S. Parker and Virginia S. Name of Marks Certificate of Title Transfer No. 222,014 (Sq.m.) Area Transferred 66,923 Area Estancia, Hloilo Tacbuyan. Location Brgy. City

gains tax and documentary stamp tax under Sections 19 and 20 of Republic Act (RA) No. 7279. which shall be used for the above-mentioned socialized housing project, is not subject to capital

Bumbaran Development Corporation -- JV RFN Construction and Development Corporation/ Date issued 12-14-2017 CTE No. 608-20 17

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It is. however, understood that this CTE is never intended. and shall not be construed as giving authority to concerned Register of Deeds to effect transfer of the tand titles in the name of the buyer without the necessary Certificate Authorizing Registration (CAR) 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 CAR.

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 ... ay of.DEC 1 4 2017

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CAESAR R. DULAY Commissioner of Internal Revenue 01172

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