February 17, 2010
BIR RULING [DA-(IL-003) 029-10]
EO 226; 163-94; DA518-99; DA133-00; UN205-95
Surewell Equities, Inc.
690 A Quirino Avenue
Tambo, Parañaque City
Attention: Mr. Edwin N. Espedido
Department Head
Government Compliance Section
Gentlemen :
This refers to your letter dated December 3, 2009 stating that Surewell Equities, Inc. (SEI) is a Board of Investments (BOI) registered entity; that SEI is a developer of mass housing project on a Non-Pioneer Status located in Cavite, namely:
No. of | BOI | |||
Project | Location | Economic | Date of | Registration |
Units | Registration | No. | ||
| Le Rica Homes Phase I | General Trias, Cavite | 412 | 12-23-2008 | 2008-332 |
| Le Rica Homes Phase II | General Trias, Cavite | 707 | 05-24-2006 | 2006-070 |
that under the terms of its registrations, SEI is entitled to certain fiscal and non-fiscal incentives which include an Income Tax Holiday (ITH) respectively for a period of three (3) years from November 2009 and four (4) years from August 2006 or actual start of commercial operations/selling, whichever is earlier, but in no case earlier than the date of registration.
Based on the foregoing representations, you now request for a ruling on the tax consequences that as a BOI-registered enterprise enjoying an ITH it is exempt...
