Solanaland Development, Inc.

December 13, 2019 CERTIFICATE OF TAX EXEMPTION NO. 792-19 CERTIFICATE OF TAX EXEMPTION TO ALL WHOM IT MAY CONCERN : This certifies that SOLANALAND DEVELOPMENT, INC. 1 (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, RA 10884 (Balanced Housing Development Program Amendments) on its income received directly in connection with the construction/development of socialized housing units of AFP Housing Homeowners Association, Inc. and PNP Housing Homeowners Association, Inc. under the NHA's Socialized Housing Program, to wit: Date of Memorandum of Agreement Date of Contract of Agreement Contract Price (Php) Project Name October 2, 2012 October 2, 2012 P__________ for a house and lot package of 40 sq. m. lot and 22 sq. m. floor area Sangyaw AFP-PNP Housing Project Beneficiary Name Location No. of Socialized Housing Units subject of tax exemption AFP Housing Homeowners Association, Inc. and PNP Housing Homeowners Association, Inc. Tagpuro, Brgy. 108, Tacloban City, Leyte 1,000 However, the purchases of goods/articles by SOLANALAND DEVELOPMENT, 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. It shall be understood that SOLANALAND DEVELOPMENT, INC. must issue VAT Exempt official receipts on its gross receipts from the said socialized housing project. 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. Formerly: PMV Homes Builders Innovations Corp.