BIR Ruling No. 456-2021

REPUBLIC OF THE PHILIPPINES DEPARTMENT OF FINANCE BUREAU OF INTERNAL REVENUE Quezon City Certificated rTax Exemption No: Mi-lir- I n - 2 fl 2 1 CERTIFICATE OF TAX EXEMPTION TO ALL WHOM IT MAY CONCERN: This certifies that PRIMA CASA LAND & HOUSES, with Taxpayer Identification Number(TIN) ""0, is exempt from income tax and creditable withholding tax on its income receiveu uuconj' in connection with its economic and low-cost housing project, Lumina San Jose - Brgy. Caanawan, San Jose City, Nueva Ecija, consisting of587 house and lot units used solely for family home or dwelling purposes,located at Brgy.Caanawan,San Jose City,Nueva Ecija,a project duly registered with the Board of Investments(BOI)under Certificate ofRegistration No. date^ November 29,2019, for a period of 4 years beginning from November 2019 or actual start of commercial operations/selling, whichever is earlier,but in no case earlier than the date ofregistration ofthe project with the BOI, pursuant to Executive Order(BO) No. 226, otherwise known as the 'Omnibus Investments Cr'ondAoe.orvff110918277" ScctioU 2.57.5(B)(2)ofRev**;"n'u"e* Rpeagnulfllattiinioin!s?(RR) No:2-98, as amended. Moreover, the sale by the Company of residential lot valued at Pl,919,500.00 and below, or house and lot and other residential dwellings valued at P3,19),200.00 and below, is VAT-exempt under Section 109(1)(P) ofthe National Internal Revenii 5 Code(Tax Code)of 1997, as amended. Provided, however, that beginning January 01,202 i, the VAT exemption shall only apply to sale ofhouse and lot and other residential dwelling? with selling price of not more than P3,199,200.00^. However, the sale of house and lot units in excess of the 587 house and lot units registered with the BOI, if any, including those units used for commercial purposes such as leasing,retail stores,offices,etc.shall be subjectto the paymentofappijopriate taxes underthe Tax Code of 1997, as amended. The grant oftax exemption herein is subject to the compliance with the provisions of applicabl:^ BIR rules and regulations and the Terms and Conditions started 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 investigateon,the BIR ascertains that the facts are different, then this Certificate shall be considered null and void. Issued this day of HFX i 3 CAES1ARR.DULAY Commissioner ofInternal Revenue K-l 'Formerly; Lumina Homes,Inc. ~ Sale oflot only,regardless ofthe price,shall be subject to VAT starting January 01,2021 pursuant to RA No. 10963. ^ As adjusted using the 2010 Consumer Price Index values pursuant to RR No.8-2021 dated Juie 11,2021