BIR Ruling No. 271-11

August 4, 2011 BIR RULING NO. 271-11 Martinez Martinez Alcudia Law Offices Suites 1405 & 1406 Richville Corporate Tower 1107 Alabang-Zapote Rd. Madrigal Business Park Ayala Alabang, Muntinlupa City Attention: Edward P. Martinez Gentlemen: This refers to your letter dated May 16, 2011, requesting for a tax ruling in behalf of Richville Builders and Management Corporation, on the transfer of Land and Common Areas of a Condominium from Project Developer to the Condominium Corporation. In reply, please be informed that with the issuance of Revenue Memorandum Order No. 18-2009, An Order Dispensing the Necessity of Securing a Ruling from the Bureau of Internal Revenue as a Requisite for the Issuance of CAR/TCL on the Conveyance of Land and Common Areas by the Real Estate Developer to the Condominium Corporation Organized in Accordance with the Provisions of Republic Act No. 4726 for the Purpose of Holding Title to and Managing and Maintaining the Land and the Common Areas for the Benefit of the Condominium Unit Owners, as well as Prescribing the Policies and Guidelines to be Observed in the Issuance of CAR/TCL in Respect Thereto , dated April 26, 2009, the subject matter of your request is sufficiently covered by the said Revenue Memorandum Order, hence, a BIR ruling is unnecessary. In as much as your query falls within the ambit of the said RMO No. 18-2009, you are advised to comply with the requirements prescribed under the said Revenue Memorandum Order. cDSAEI Very truly yours, (SGD.) KIM S. JACINTO-HENARES Commissioner of Internal Revenue