Markbilt Construction Trading and Development Corp. and Quadhomes, Inc. Joint venture

April 19, 2022 CERTIFICATE OF TAX EXEMPTION NO. NSH-144-2022 CERTIFICATE OF TAX EXEMPTION TO ALL WHOM IT MAY CONCERN : This certifies that MARKBILT CONSTRUCTION TRADING AND DEVELOPMENT CORP. AND QUADHOMES, INC. JOINT VENTURE , an entity engaged by the National Housing Authority (NHA) , is exempt from project-related income taxes/creditable withholding tax (CWT) pursuant to Section 20 (d) (1) of Republic Act (RA) 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 land development, housing construction, and acquisition of 74 serviced homelots (19 developed lots and 55 single detached house and lot) in NHA-Don Carlos Village Phase II , a socialized housing project of the NHA through the Resettlement Assistance Program (RAP) intended for the affected families of the Bukidnon Airport Development Project located at Brgy. Maraymaray, Don Carlos, Bukidnon. Moreover, the delivery of the said 74 serviced homelots (19 developed lots and 55 single detached house and lot) shall be exempt from value-added tax (VAT) pursuant to Section 109 (1) (P) of the National Internal Revenue Code (Tax Code) of 1997, as amended, provided that the selling price thereof does not exceed P3,199,200.00 per house and lot package; provided further, that beginning January 01, 2021, the exemption from VAT shall only apply to sale of house and lot and other residential dwellings 1 valued at P3,199,200.00. 2 However, the purchases of goods/articles by MARKBILT CONSTRUCTION TRADING AND DEVELOPMENT CORP. AND QUADHOMES, INC. JOINT VENTURE shall be subject to VAT, even if the said purchases are to be used for the above-mentioned 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 MARKBILT CONSTRUCTION TRADING AND DEVELOPMENT CORP. AND QUADHOMES, INC. JOINT VENTURE must issue VAT-exempt official receipts on its gross receipts from the said socialized housing project. This CTE 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 April, 2022. CAIHTE CAESAR R. DULAY Commissioner of Internal Revenue By: (SGD.) MARISSA O. CABREROS Deputy Commissioner Legal Group Officer-in-Charge Footnotes 1. Sale of lot only, regardless of the price, shall be subject to VAT starting January 01, 2021 pursuant to RA No. 10963. 2. As adjusted using the 2010 Consumer Price Index values per Revenue Regulations (RR) No. 8-2021 dated June 11, 2021.