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June 7, 2010BIR RULING [DA-(I-009) 088-10]Section 27 (C); BIR Ruling DA-143-05Regional Director Revenue Region No. 13Cebu CitySir :This refers to your 1st Indorsement dated March 18, 2009, wherein you forwarded the entire docket of Government Service Insurance System (GSIS), requesting exemption from the payment of capital gains and documentary stamp taxes, on the transfer of a parcel of land located at Tagbilaran City in favor of Bonifacia G. Cloma. ETIcHaDocuments submitted show that GSIS is an institution created and existing pursuant to the provisions of Presidential Decree (PD) No. 1146. It is the registered owner of a parcel of land located at Lot 3, Block 10, Lindaville Subdivision Phase I, Tagbilaran City, Bohol covered by Transfer Certificate of Title No. T-11869 of the Registry of Deeds for the City of Tagbilaran and containing an area of 295 sq.m., more or less.On January 28, 2009, the GSIS executed a Deed of Absolute Sale transferring the abovedescribed property in favor of Bonifacia G. Cloma for the total amount of PhP41,630.00.In reply, please be informed that in a...