January 7, 2010
BIR RULING [DA-(JV-002) 003-10]
22 (B); DA-373-2008; DA-247-2001; DA 262-2001
Ms. Eufrocina B. Tarobal, CPA
20 Pinaglabanan Extension
San Juan City
Madam :
This refers to your letter dated August 11, 2009 requesting for confirmation of your opinion that:
1. The Joint Venture Agreement (JVA), copy of which will be annotated at the back of the title to the PROPERTY, executed by Moldex Realty, Inc., a domestic corporation duly organized and existing under and by virtue of the laws of the Philippines, with principal business address at the 4th Floor, Moldex Building, Ligaya Street cor. West Avenue, Quezon City, hereinafter referred to as the DEVELOPER; and SALVADOR G. ZERRUDO, JR., married to Cristeta Canoy, RONA S. ZERRUDO, single, ANDREW S. ZERRUDO, single, all of legal age, Filipino citizens and residents of 107 Magpie Street, Rosaryville, Saint Francis, Meycauayan, Bulacan, collectively referred to herein as the OWNERS, does not give rise to a taxable joint venture within the meaning of Section 22 (B) of the Tax Code, as amended. The JVA is subject only to the documentary stamp tax of P15.00...
