R.D. Policarpio & Co., INC./TGV Builders, Inc.-Joint Venture

February 2, 2017 CERTIFICATE OF TAX EXEMPTION NO. 031-17 CERTIFICATE OF TAX EXEMPTION TO ALL WHOM IT MAY CONCERN : This certifies that R.D. POLICARPIO & CO., INC./TGV BUILDERS, INC.-JOINT VENTURE (TIN: 000-000-000-000), an entity engaged by the National Housing Authority (NHA), is exempt from project-related income taxes, creditable withholding tax and value added tax (VAT), pursuant to Section 20 (d) (1) and (3) of Republic Act No. 7279, on its income received directly in connection with the construction/development of socialized housing units under the National Housing Authority (NHA)'s Yolanda Permanent Housing Program, to wit: Date of Notice of Award Date of Contract Contract Price (Php) October 24, 2014 July 23, 2015 P_______________ Project Name Location No. of socialized housing units subject of tax exemption Paloc-Sool People's Village Brgy. Paloc-Sool, 588 Dumangas, Iloilo However, the purchases of goods/articles by R.D. POLICARPIO & CO., INC./TGV BUILDERS, INC.-JOINT VENTURE 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 R.D. POLICARPIO & CO., INC./TGV BUILDERS, INC.-JOINT VENTURE must issue non-VAT official receipts on its gross receipts from the said socialized housing project. 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 2nd day of February, 2017. (SGD.) CAESAR R. DULAY Commissioner of Internal Revenue