Certificate of Tax Exemption

November 11, 2022 CERTIFICATE OF TAX EXEMPTION NO. NSH-429-2022 CERTIFICATE OF TAX EXEMPTION TO ALL WHOM IT MAY CONCERN : This certifies that EDMOND RAY CONSTRUCTION & SUPPLY , an entity engaged by the National Housing Authority (NHA) , 1 is exempt from project-related income tax and creditable withholding tax 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 development/construction of 83 Serviced Homelots: 61 units developed lots and 22 socialized housing units in Kalugmanan Paglaum Village located at Brgy. Kalugmanan, Manolo Fortich, Bukidnon, under the Resettlement Assistance Program for the Local Government Unit of Municipality of Manolo Fortich, intended for the informal settlers and landless families residing along National Highway and danger zone areas. Moreover, the delivery of 83 Serviced Homelots: 61 units developed lots and 22 socialized housing units shall be exempt from value-added tax (VAT) pursuant to Section 109 (1) (P) of the National Internal Revenue Code of 1997, as amended, provided that the selling price/value thereof does not exceed P3,199,200.00 2 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 3 with selling price of not more than P3,199,200.00. However, the purchases of goods/articles by EDMOND RAY CONSTRUCTION & SUPPLY , 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 EDMOND RAY CONSTRUCTION & SUPPLY must issue VAT-exempt official receipts on its gross receipts from the said socialized housing project. 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 11th day of November, 2022. (SGD.) LILIA CATRIS GUILLERMO Commissioner of Internal Revenue Footnotes 1. Per Contract Agreement dated July 21, 2021. 2. As adjusted using the 2010 Consumer Price Index values per Revenue Regulations No. 8-2021 dated June 11, 2021. 3. Sale of lot only, regardless of the price, shall be subject to VAT starting January 01, 2021 pursuant to RA No. 10963.