Hi-Tone Construction and Development Corporation

March 17, 2017 CERTIFICATE OF TAX EXEMPTION NO. 121-17 CERTIFICATE OF TAX EXEMPTION This certifies that HI-TONE CONSTRUCTION AND DEVELOPMENT CORPORATION , with Tax Identification Number 000-000-000-000, an entity engaged by the National Housing Authority (NHA), is exempt from capital gains tax, project-related income taxes, creditable withholding tax and VAT, pursuant to Section 20 (d) (1) and (3) of Republic Act No. 7279, on its income received directly in connection with the National Housing Authority (NHA)'s socialized housing project involving 120 socialized housing lots/units through the Community Association Initiative Approach Program (CIAP), to wit: DETACa Date of Contract Agreement Date of Memorandum of Agreement Date of Absolute Sale Contract Price (Php) November 3, 2010 June 21, 2012 June 21, 2012 P_____________ Project Name Location No. of socialized housing lots/units Beneficiary Lupi Resettlement Project Brgy. Poblacion, Lupi, Camarines Sur 120 Poblacion Homeowners Association, Inc. 1 However, the purchases of goods/articles by HI-TONE CONSTRUCTION AND DEVELOPMENT CORPORATION 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 HI-TONE CONSTRUCTION AND DEVELOPMENT CORPORATION must issue non-VAT official receipts on its gross receipts from the said socialized housing projects. 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 17th day of March, 2017. (SGD.) CAESAR R. DULAY Commissioner of Internal Revenue Footnotes 1. See Annex list of beneficiaries.