Certificate of Tax Exemption No. 056-2017

2017 CERTIFICATE OF TAX EXEMPTION NO. 056-2017 CERTIFICATE OF TAX EXEMPTION issued to Name of Seller TIN Address VRC Realty Corporation 4th Flr.,Saville Bldg.,8728 Paseo de Roxas, Makati City -and- Name of Homeowners Association (HOA) TIN Address Aratiles Homeowners' Association, Inc. Ph. II Brgy. B.F. Homes, Paraaque City This certifies that the Deed of Absolute Sale entered by the Seller and the HOA dated December 15, 2015 over a parcel of land described below, to wit; Transfer Certificate of Title Area (sq.m.) Transferred (sq.m.) Area of CMP (sq.m.) Location 3,247 3,126 3,126 Villongco Avenue, Brgy. B.F. Homes, Paraaque City being a Community Mortgage Program (CMP), 1 is not subject to income tax/capital gains tax/expanded withholding tax and value-added tax pursuant to Section 32 (b) of RA No. 7279 and Section 109 (1) (P) of the Tax Code of 1997, as amended. The transaction is, however, subject to documentary stamp tax under Section 196 of the same Code. HTcADC It is, however, understood that this CTE is never intended and shall not be construed as giving authority to the concerned Register of Deeds to effect transfer of the land title in the name of the buyer without the necessary certificate of authority to register issued by this Bureau. In this regard, this CTE shall be presented to the Revenue District Office (RDO) concerned in order for the latter to issue the Certificate Authorizing Registration (CAR). The CAR shall only be issued after the submission of the requirements provided under RMO No. 15-2003. The Bureau of Internal Revenue shall conduct verification and post-audit that the actual occupants of the property transferred under the CMP are qualified beneficiaries and therefore, the seller is entitled to exemption from capital gains tax or income tax imposed under Secs. 24 (D) (1) and/or 27 (D) (5) the Tax Code of 1997, as amended. 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 ____ day of ________, _____. (SGD.) CAESAR R. DULAY Commissioner of Internal Revenue Footnotes 1. Shall be proportionately distributed to the association's qualified member-beneficiaries. (See Annex)