Bureau of Local Government Finance Opinion

June 11, 2012 BUREAU OF LOCAL GOVERNMENT FINANCE OPINION 4th Indorsement Respectfully returned to the OIC-Regional Director for Local Government Finance, Department of Finance, Region XII, Old City Hall, Barangay Zone I, Koronadal City, his within preceding Indorsement dated February 15, 2012, pertaining to the request for availment of Transfer Tax Exemption in accordance with R.A. No. 7279, also known as the Urban Development and Housing Act of 1992, in connection with the socialized housing project participated in by Mr. Ludovico D. Badoy, with the Community Mortgage Program (CMP) of the Social Housing Finance Corporation (SHFC). aCIHcD In this connection, and considering that the proviso of Section 20 of R.A. No. 7279, and the specified requirements/conditions under Local Finance Circular No. 1-97 dated April 16, 1997, of the Department of Finance had been complied with, hence, we find that the socialized housing located in the abovementioned barangay , qualifies for exemption from payment of the transfer tax. In view hereof, enclosed is the Certification of Transfer Tax Exemption issued by this Bureau in order to avail of the said exemption. We trust that this satisfies your abovementioned request. (SGD.) SALVADOR M. DEL CASTILLO OIC-Executive Director