Jarlut Properties, Inc

April 12, 2023 CERTIFICATE OF TAX EXEMPTION NO. PSH-026-2023 CERTIFICATE OF TAX EXEMPTION TO ALL WHOM IT MAY CONCERN : This certifies that JARLUT PROPERTIES, INC., with Taxpayer's Identification Number 000-000-000-000, is exempt from income tax and 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 its sale of socialized house and lot units for residential and dwelling purposes to qualified beneficiaries in Residenza de Sta. Cruz (Batches I-V) , consisting of 1,278 house and lot units, used solely for residential or dwelling purposes, located at Brgy. Bubukal, Sta. Cruz, Laguna, which projects are duly registered with the Housing and Land Use Regulatory Board (HLURB) under Certificate of Registration No. 26943 and License to Sell Nos. 031271, 032097, 033023, 033133 and 033919, provided that the selling price of said units does not exceed P450,000.00 per house and lot packages. DETACa Moreover, beginning January 01, 2021, the sale by the Company of house and lot and other residential dwellings valued at P3,199,200.00 and below, is exempt from value-added tax (VAT) pursuant to Section 109 (1) (P) of the National Internal Revenue Code (Tax Code) of 1997, as amended. The sale of residential lot, on the other hand, regardless of value shall now be subject to VAT. It is observed, however, that documentary stamp tax (DST) is not one of the taxes covered by the tax exemption clause in Section 20 of RA No. 7279. Thus, the documents conveying the properties shall be subject to DST imposed under Section 196 of the Tax Code of 1997, as amended, based on the consideration contracted to be paid for such realties or on their fair market value determined in accordance with Section 6 (E) of the same Code, whichever is higher. Likewise, lots/units classified as Economic Housing, not being covered by RA No. 7279, shall be subject to the payment of appropriate taxes. The grant of tax exemption herein is subject to the compliance with the provisions of applicable BIR rules and regulations and the Terms and Conditions stated at the back hereof. The Company is liable, however, for all other applicable taxes not discussed above. 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. HEITAD Issued this 12th day of April, 2023. (SGD.) ROMEO D. LUMAGUI, JR. Commissioner of Internal Revenue ATTACHMENT TERMS AND CONDITIONS OF THE CERTIFICATE OF TAX EXEMPTION 1. The exemption from income and creditable withholding taxes covers only income directly attributable to the revenues generated from the project, Residenza de Sta. Cruz (Batches I-V) , consisting of 1,278 house and lot units, located at Brgy. Bubukal, Sta. Cruz, Laguna. 2. The developer shall submit the sworn statement of the buyer that he is eligible as a socialized housing beneficiary under Section 5 (A) of Revenue Regulations (RR) No. 11-97 to the BIR during the processing of the Certificate Authorizing Registration (CAR) for the transfer of the title of the socialized housing unit. 3. It is understood that the CAR shall only be issued after it is established upon proper verification by the Revenue District Officer (RDO) concerned that, considering the rules on valuation of real property, the actual selling price per sale transaction of the socialized house and lot packages in this case does not really exceed P450,000.00 as stated in the Licenses to Sell issued for the project.