Norzon Construction & Development Corp.

March 7, 2018 CERTIFICATE OF TAX EXEMPTION NO. 332-18 CERTIFICATE OF TAX EXEMPTION TO ALL WHOM IT MAY CONCERN : This certifies that NORZON CONSTRUCTION & DEVELOPMENT CORP. (TIN: 000-000-000-000), 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, otherwise known as the "Urban Development and Housing Act of 1992," on its income received directly in connection with the construction/development of socialized housing units under the National Housing Authority (NHA)'s Community Initiative Approach Program (CIAP), to wit: Project Name Date of Deed of Absolute Sale Selling Price Location No. of Socialized Housing Units subject of Tax Exemption Norzagaray Homes Resettlement Project August 27, 2015 P____________ Brgy. Minuyan, Norzagaray, Bulacan 1,309 developed lots under Batch 2-2015, with an aggregate area of 58,141 sq.m. September 26, 2014 P____________ Brgy. Minuyan, Norzagaray, Bulacan 1,191 developed lots under Batch 1-2014, with an aggregate area of 50,793 sq.m. However, the purchases of goods/articles by NORZON CONSTRUCTION & DEVELOPMENT CORP. shall be subject to VAT, even if the said purchases are to be used for the socialized housing projects, since VAT is an indirect tax which can be passed on by the seller of the goods/services. It shall be understood that NORZON CONSTRUCTION & DEVELOPMENT CORP. must issue VAT-exempt 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 7th day of March, 2018. (SGD.) CAESAR R. DULAY Commissioner of Internal Revenue