Phintecstar Construction, Inc.

December 13, 2019 CERTIFICATE OF TAX EXEMPTION NO. 790-19 CERTIFICATE OF TAX EXEMPTION TO ALL WHOM IT MAY CONCERN : This certifies that PHINTECSTAR CONSTRUCTION, INC. (TIN: 000-000-000-000), an entity engaged by the National Housing Authority (NHA), is exempt from project-related income taxes and creditable withholding tax, pursuant to Section 20 (d) (1) 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 Permanent Housing Program for the victims of Magnitude 6.5 Earthquake in the Visayas 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 October 4, 2018 October 23, 2018 P__________ 1 Blue Horizon Residences Brgy. Hiluctogan, Kananga, Leyte 211 2 The purchases of goods/articles by PHINTECSTAR CONSTRUCTION, INC. 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. 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 Deeds of Absolute Sale Name of Landowners/ Sellers Transfer Certificate of Title No. Area (Sq.m.) Area Transferred (Sq.m.) Location November 8, 2018 AAA, et al. 18817 191,851 17,125 Brgy. Hiluctogan, Kananga, Leyte in so far as the area corresponding to the 211 housing units which shall be used for the above-mentioned socialized housing project, is not subject to capital gains tax and documentary stamp tax under Sections 19 and 20 of Republic Act (RA) No. 7279. 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 13th day of December, 2019. (SGD.) CAESAR R. DULAY Commissioner of Internal Revenue Footnotes 1. The original contract price amounting to P61,164,180.23 per Contract Agreement dated October 23, 2018 was adjusted to P61,138,548.62 for additional works covered by Variation Order No. 1 issued by the National Housing Authority dated October 31, 2018. 2. The number of units was increased from the original 176 house and lot units to 211 by the above-mentioned Variation Order.