AL-LA Integrated and Development Corp.

January 10, 2018 CERTIFICATE OF TAX EXEMPTION NO. 009-18 CERTIFICATE OF TAX EXEMPTION TO ALL WHOM IT MAY CONCERN : This certifies that AL-LA INTEGRATED AND DEVELOPMENT CORPORATION (TIN: 000-965-792-002), with office address at Caingin Road, Lawa, Meycauayan, Bulacan, is exempt from value-added tax (VAT) pursuant to Section 109 (1) (P) of the 1997 Tax Code, as amended, on its income received directly in connection with its sale of residential lots with selling price not exceeding P1,919,500.00, and house and lot with selling price not exceeding P3,199,200.00, in Meywoods Subdivision Phase I (consisting of 77 lots, with maximum selling price of P500,000.00 per house & lot package) and Phase II (consisting of 119 lots/units but the maximum selling price of P1,250,000.00 is for unsold units only) located at Brgy. Lawa, Meycauayan, Bulacan, which projects are duly registered with the Housing and Land Use Regulatory Board (HLURB) under Certificate of Registration Nos. 04986 and 24168, and License to Sell Nos. 05168 and 25948, respectively. It must be emphasized that the sale of the aforesaid residential lots and housing units is subject to income tax, and consequently, to the creditable withholding tax under Revenue Regulations (RR) No. 2-98, as amended. The grant of tax exemption herein is subject to the compliance with the provisions of applicable BIR rules and regulations and the Terms and Conditions stated at the back hereof. The Company is liable, however, for 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 investigation, the BIR ascertains that the facts are different, then this Certificate shall be considered null and void. Issued this 10th day of January, 2018. (SGD.) CAESAR R. DULAY Commissioner of Internal Revenue ATTACHMENT TERMS AND CONDITIONS OF THE CERTIFICATE OF TAX EXEMPTION 1. The exemption from VAT covers only income directly attributable to the revenues generated from the sale of residential lots with selling price not exceeding P1,919,500.00, and house and lot with selling price not exceeding P3,199,200.00, in Meywoods Subdivision Phase I (consisting of 77 lots) and Phase II (consisting of 119 lots/units) located at Brgy. Lawa, Meycauayan, Bulacan. The sale, however, of the residential lots and housing units is subject to income tax, and consequently, to the creditable withholding tax under Revenue Regulations (RR) No. 2-98, as amended. 2. It is understood that the Certificate Authorizing Registration (CAR) shall only be issued after it is established upon proper verification by the Revenue District Officer (RDO) concerned that, considering the rules on valuation of real property, the actual selling price per sale transaction of the residential lots does not exceed P1,919,500.00 for residential lots and P3,199,200.00 for house and lot.