n\a

January 6, 2009BIR RULING [SH-(001) 001-09]S20-030-06National Housing AuthorityQuezon Memorial Elliptical RoadDiliman, Quezon CityAttention: Ivanswenda V. MarquezOfficer-in-Charge, CRIODGentlemen :This refers to your letter dated December 09, 2008 requesting on behalf of the landowners, GEN. RESTITUTO C. PADILLA & MRS. DOLORES FERRER PADILLA, for a ruling that the sale of their parcel of land to the National Housing Authority (NHA) for its socialized housing program for the benefit of the low-income and marginal income families in the urban areas, is exempt from the payment of capital gains tax and documentary stamp tax pursuant to Sections 19, 20 and 32 of Republic Act (R.A.) No. 7279, otherwise known as the "Urban Development and Housing Act of 1992". HSAcaEIt appears that the landowners are the registered owners of two (2) parcels of land located at Cabanatuan City covered by TCT Nos. T-131790 and T-126096 issued by the Registry of Deeds for Cabanatuan City with an aggregate area of 30,815 square meters; that on August 21, 2008, a Memorandum Agreement was entered into by and among Spouses Restituto C. Padilla...