IPM Construction & Development Corporation

December 19, 2018 CERTIFICATE OF TAX EXEMPTION NO. 1431-18 CERTIFICATE OF TAX EXEMPTION TO ALL WHOM IT MAY CONCERN : This certifies that IPM CONSTRUCTION & DEVELOPMENT CORPORATION (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, as amended by RA No. 10884 (Balanced Housing Development Program Amendments) dated July 17, 2016, on its income received directly in connection with the construction/development of socialized housing units under the NHA's Yolanda Permanent Housing Program, to wit: Date of Notice of Award Date of Contract Agreement Contract Price (Php) Project Name Location No. of Socialized Housing Units subject of tax exemption December 23, 2015 June 2, 2016 P___________ Adcadarao People's Village Brgy. Adcadarao Ajuy, Iloilo 600 However, the purchases of goods/articles by IPM CONSTRUCTION & 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 IPM CONSTRUCTION & DEVELOPMENT CORPORATION must issue VAT Exempt official receipts on its gross receipts from the said socialized housing project. Moreover, the Deeds of Absolute Sale/Unilateral Sale Executed by the Landowners in favor of the NHA over the parcel of land described below, to wit: Date of Deed of Sale Name of Landowners/Sellers Transfer Certificate of Title No. Area (Sq.m.) Area Transferred (Sq.m.) Location April 15, 2016 1 May 20, 2016 2 AAA 3 T-138-769 47,727 47,727 Brgy. Adcadarao, Ajuy, Iloilo which shall be used for the above-mentioned socialized housing project, is not subject to capital gains tax and documentary stamp tax pursuant to Sections 19 and 20 of Republic Act (RA) No. 7279. aScITE 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 titles in the name of the buyer without the necessary Certificate Authorizing Registration (CAR) 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 CAR. 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 19th day of December, 2018. (SGD.) CAESAR R. DULAY Commissioner of Internal Revenue Footnotes 1. Date of acknowledgement for the Vendor. 2. Date of acknowledgement for Atty. Sinofroso R. Pagunsan, General Manager NHA. 3. Represented by Atty-in-Fact, BBB.