BIR Ruling No. 128-15

April 29, 2015 BIR RULING NO. 128-15 RA 7279; BIR Ruling No. 386-2014 Woodendragon, Inc. Suite 302, 1152 Seneca Plaza E. Rodrigues Sr. Ave., Brgy. Mariana, Quezon City Attention : Alvin L. Cabatit Chief Executive Officer Gentlemen : This refers to your letter dated July 18, 2013 requesting issuance of Certificate of Tax Exemption on the housing project in San Francesco Villagio located in Brgy. Lallana, Trece Martires City, Cavite pursuant to Republic Act (R.A.) No. 7279, otherwise known as the "Urban Development and Housing Act of 1992". Documents submitted show that National Housing Authority (NHA), is the registered owner of one thousand one hundred twenty five (1,125) 1 parcels of land located at Brgy. Lallana, Trece Martires City, Cavite and covered by the following Transfer Certificates of Title (TCT), to wit: TCT No. Block No. Lot No. Area (sq. m.) 1 077-2014001580 1 1 40 2 077-2014001581 1 2 40 3 077-2014001582 1 3 40 4 077-2014001583 1 4 40 5 077-2014001584 1 5 40 6 077-2014001585 1 6 40 7 077-2014001586 1 7 40 8 077-2014001587 1 8 41 9 077-2014001589 2 1 40 10 077-2014001590 2 2 40 11 077-2014001591 2 3 40 12 077-2014001592 2 4 40 13 077-2014001593 2 5 40 14 077-2014001594 2 6 40 15 077-2014001595 2 7 40 16 077-2014001596 2 8 40 17 077-2014001597 2 9 41 18 077-2014001598 3 1 40 19 077-2014001599 3 2 40 20 077-2014001600 3 3 40 21 077-2014001601 3 4 40 22 077-2014001602 3 5 40 23 077-2014001603 3 6 40 24 077-2014001604 3 7 40 25 077-2014001605 3 8 40 26 077-2014001606 3 9 40 27 077-2014001607 3 10 40 28 077-2014001608 3 11 40 29 077-2014001609 3 12 40 30 077-2014001610 3 13 40 31 077-2014001611 3 14 40 32 077-2014001612 3 15 40 33 077-2014001613 3 16 41 34 077-2014001614 3 17 41 35 077-2014001615 4 1 40 36 077-2014001616 4 2 40 37 077-2014001617 4 3 40 38 077-2014001618 4 4 40 39 077-2014001619 4 5 40 40 077-2014001620 4 6 41 41 077-2014001621 4 7 41 42 077-2014001622 4 8 41 43 077-2014001623 4 9 41 44 077-2014001624 4 10 41 45 077-2014001625 4 11 41 46 077-2014001626 4 12 41 47 077-2014001627 4 13 41 48 077-2014001628 4 14 41 49 077-2014001629 4 15 41 50 077-2014001630 4 16 41 51 077-2014001631 4 17 41 52 077-2014001632 4 18 42 53 077-2014001633 4 19 45 54 077-2014001634 5 1 40 55 077-2014001635 5 2 40 56 077-2014001636 5 3 40 57 077-2014001637 5 4 40 58 077-2014001638 5 5 40 59 077-2014001639 5 6 40 60 077-2014001640 5 7 40 61 077-2014001641 5 8 40 62 077-2014001642 5 9 40 63 077-2014001643 5 10 40 64 077-2014001644 5 11 40 65 077-2014001645 5 12 40 66 077-2014001646 5 13 40 67 077-2014001647 5 14 40 68 077-2014001648 5 15 40 69 077-2014001649 5 16 41 70 077-2014001650 5 17 41 71 077-2014001651 6 1 40 72 077-2014001652 6 2 40 73 077-2014001653 6 3 40 74 077-2014001654 6 4 40 75 077-2014001655 6 5 40 76 077-2014001656 6 6 40 77 077-2014001657 6 7 40 78 077-2014001658 6 8 40 79 077-2014001659 6 9 40 80 077-2014001660 6 10 40 81 077-2014001661 6 11 40 82 077-2014001662 6 12 40 83 077-2014001663 6 13 40 84 077-2014001664 6 14 40 85 077-2014001665 6 15 40 86 077-2014001666 6 16 40 87 077-2014001667 6 17 40 88 077-2014001668 6 18 45 89 077-2014001669 6 19 47 90 077-2014001670 7 1 40 91 077-2014001671 7 2 40 92 077-2014001672 7 3 40 93 077-2014001673 7 4 40 94 077-2014001674 7 5 40 95 077-2014001675 7 6 40 96 077-2014001676 7 7 40 97 077-2014001677 7 8 40 98 077-2014001678 7 9 40 99 077-2014001679 7 10 40 100 077-2014001680 7 11 40 101 077-2014001681 7 12 40 102 077-2014001682 7 13 40 103 077-2014001683 7 14 40 104 077-2014001684 7 15 40 105 077-2014001685 7 16 41 106 077-2014001686 7 17 41 107 077-2014001687 8 1 40 108 077-2014001688 8 2 40 109 077-2014001689 8 3 40 110 077-2014001690 8 4 40 111 077-2014001691 8 5 40 112 077-2014001692 8 6 45 113 077-2014001693 8 7 45 114 077-2014001694 8 8 40 115 077-2014001695 8 9 40 116 077-2014001696 8 10 40 117 077-2014001697 8 11 40 118 077-2014001698 8 12 40 119 077-2014001699 8 13 40 120 077-2014001700 8 14 40 121 077-2014001701 8 15 40 122 077-2014001702 8 16 40 123 077-2014001703 8 17 40 124 077-2014001704 8 18 46 125 077-2014001705 8 19 48 126 077-2014001706 9 1 40 127 077-2014001707 9 2 40 128 077-2014001708 9 3 40 129 077-2014001709 9 4 40 130 077-2014001710 9 5 40 131 077-2014001711 9 6 40 132 077-2014001712 9 7 40 133 077-2014001713 9 8 40 134 077-2014001714 9 9 40 135 077-2014001715 9 10 40 136 077-2014001716 9 11 40 137 077-2014001717 9 12 40 138 077-2014001718 9 13 40 139 077-2014001719 9 14 40 140 077-2014001720 9 15 40 141 077-2014001721 9 16 41 142 077-2014001722 9 17 41 143 077-2014001723 10 1 40 144 077-2014001724 10 2 40 145 077-2014001725 10 3 40 146 077-2014001726 10 4 40 147 077-2014001727 10 5 40 148 077-2014001728 10 6 48 149 077-2014001729 10 7 48 150 077-2014001730 10 8 40 151 077-2014001731 10 9 40 152 077-2014001732 10 10 40 153 077-2014001733 10 11 40 154 077-2014001734 10 12 40 155 077-2014001735 10 13 40 156 077-2014001736 10 14 40 157 077-2014001737 10 15 40 158 077-2014001738 10 16 40 159 077-2014001739 10 17 40 160 077-2014001740 10 18 49 161 077-2014001741 10 19 50 162 077-2014001742 11 1 40 163 077-2014001743 11 2 40 164 077-2014001744 11 3 40 165 077-2014001745 11 4 40 166 077-2014001746 11 5 40 167 077-2014001747 11 6 40 168 077-2014001748 11 7 40 169 077-2014001749 11 8 40 170 077-2014001750 11 9 40 171 077-2014001751 11 10 40 172 077-2014001752 11 11 40 173 077-2014001753 11 12 40 174 077-2014001754 11 13 40 175 077-2014001755 11 14 40 176 077-2014001756 11 15 40 177 077-2014001757 11 16 41 178 077-2014001758 11 17 41 179 077-2014001759 12 1 40 180 077-2014001760 12 2 40 181 077-2014001761 12 3 40 182 077-2014001762 12 4 40 183 077-2014001763 12 5 40 184 077-2014001764 12 6 50 185 077-2014001765 12 7 50 186 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077-2014002712 72 5 40 1123 077-2014002713 72 6 40 1124 077-2014002714 72 7 40 1125 077-2014002715 72 8 40 Developed Lots Gross Area 45,992 all issued by the Registry of Deeds of Trece Martirez City. On October 7, 2013, a Contract Agreement was executed by and between Woodendragon, Inc. (TIN 007-340-991-000) and San Francesco Villagio Homeowners' Association, Inc. (SFVHOAI), a homeowner's organization registered with the Housing and Land Use Regulatory Board (HLURB) whereby the former has offered to sell the developed lots and completed housing units under the Community Initiative Approach Program (CIAP) of the National Housing Authority (NHA) for Php240,00.00 n per member/family. Moreover, on October 25, 2013, a Memorandum of Agreement 2 (MOA) was executed by and among Woodendragon, Inc., SFVHOAI, as the beneficiary, and the NHA, as the lead agency in the implementation of the Resettlement and Relocation Programs and to ensure the timely, peaceful and orderly relocation and resettlement of families affected by calamities and those living in dangerous areas. Under the MOA, members of the SFVHOAI 3 shall be provided by the NHA with a financial grant for the acquisition of 1,125 developed lots and financing of the acquisition of developed lots and completed housing units through the CIAP in the amount not to exceed One Hundred Fifteen Thousand Pesos (P115,000.00) per lot and One Hundred Twenty Five Thousand Pesos (P125,000.00) per housing unit. On December 13, 2013, Woodendragon, Inc. and the NHA executed a Deed of Absolute Sale whereby the former, transferred and conveyed 1,125 developed lots and completed housing units with an aggregate area of Forty Five Thousand Nine Hundred Ninety Two square meters (45,992 sq.m.) to NHA at an agreed price of One Hundred Twenty Nine Million Three Hundred Seventy Five Thousand Pesos (P129,375,000.00). In reply, please be informed that pursuant to Sections 19 and 20 of Republic Act (RA) No. 7279, pertinent portions of which state that: "Sec. 19. Incentives for the National Housing Authority. The National Housing Authority, being the primary government agency in charge of providing housing for the underprivileged and homeless, shall be exempted from the payment of all fees and charges of any kind, whether local or national, such as income and realty taxes. All documents or contracts executed by and in favor of the National Housing Authority shall also be exempt from the payment of documentary stamp tax and registration fees, including fees required for the issuance of transfer certificates of title. "Sec. 20. Incentives for Private Sector Participating in Socialized Housing . To encourage greater private sector participation in socialized housing and further reduce the cost of housing units for the benefit of the underprivileged and homeless, the following incentives shall be extended to the private sector: xxx xxx xxx "(d) Exemption from the payment of the following: (1) Project-related income taxes; (2) Capital Gains Tax; (3) Value-added tax for the project contractor concerned;" the landowner/developer of properties who sells its properties for use in a socialized housing project is exempt from the payment of the capital gains tax and project-related income taxes. Such being the case, the transfer of 1,125 developed lots/house packages on the 45,992 sq.m. covered by its respective titles by Woodendragon, Inc. to NHA is exempt from capital gains tax, project-related income taxes and consequently from withholding tax. (BIR Ruling No. 386-2014 dated October 8, 2014) Moreover, pertinent portions of RMC No. 42-01 dated October 5, 2001, provide, viz. : xxx xxx xxx A. National Housing Authority (NHA) The NHA, being the primary government agency in charge of providing housing for the underprivileged and homeless citizens shall be exempted from the payment of the following national internal revenue taxes: (1) . . . (2) Documentary stamp tax on sales transactions executed by and in favor of the NHA in connection with socialized housing projects. Since Section 19 of R.A. 7279 exempts "all documents or contracts executed by and in favor of the NHA," the exemption from documentary stamp tax extends to the other party (either seller or buyer) that is dealing or transacting with the NHA. xxx xxx xxx The exemption from documentary stamp tax of NHA in connection with any of its socialized housing project extends to the other party (either seller or buyer) that deals or transacts with the NHA. Consequently, since NHA is a party to the sale, no documentary stamp tax shall be due on such sale, either on NHA or the party with which NHA is transacting. Accordingly, the transfer by Woodendragon, Inc. to NHA of 1,125 developed lots/house packages on the 45,992 sq.m. covered by its respective titles, is likewise exempt from documentary stamp tax imposed under Section 196 of the Tax Code of 1997, as amended. (BIR Ruling No. 386-2014 dated October 8, 2014) Upon application for exemption, a lien on the title of the land shall be annotated by the Register of Deeds having jurisdiction over the property, to the effect that the same is to be applied or is being applied to socialized housing project pursuant to RA 7279. Please take note that this ruling is never intended and shall not be construed as giving authority to the concerned Register of Deeds to effect transfer of the land in the name of the buyer without the necessary certificate of authority to register issued by this Bureau. In this regard, this ruling shall be presented to the Revenue District Office (RDO) concerned in order for the latter to issue the Certificate Authorizing Registration (CAR) after the submission of the requirement provided under RMO 15-2003. Moreover, pursuant to Section 20 (d) (3) of RA 7279, the transfer by Woodendragon, Inc. of 1,125 developed lots/house packages on the 45,992 sq.m. covered by its respective titles shall be exempt from VAT. However, its purchases of goods/articles shall be subject to VAT, even if the said purchases are to be used for the socialized housing project, since VAT is an indirect tax which can be passed on by the seller of the goods/services. It shall be understood that Woodendragon, Inc. must issue non-VAT official receipts on its gross receipts from the said socialized housing project. This ruling is being issued on the basis of the foregoing facts as represented. However, if upon investigation, it will be disclosed that the facts are different, then this ruling shall be considered null and void. Very truly yours, (SGD.) KIM S. JACINTO-HENARES Commissioner of Internal Revenue Footnotes 1. Consolidation/Subdivision of TCT Nos. 077-2013003013 (2,647 sq.m.) and 077-2013003014 (67,870 sq.m.). 2. (For Financing the Acquisition of Developed Lots and Financing the Acquisition of Completed Housing Units). 3. Composed of members/families affected by calamities and those living in danger areas. n Note from the Publisher: Copied verbatim from the official copy.