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February 19, 2009BIR RULING [SH-(009) 122-09]S20-072-2007HG III Construction and Development Corporation(Formerly Golden City Engineering and Construction)3368 Harvard Street, PinagkaisahanMakati CityAttention: Mr. Elmer S. CeguerraPresidentGentlemen :This refers to your letter dated February 26, 2008 requesting exemption from the payment of value-added tax (VAT) pursuant to Section 20 of Republic Act (R.A.) No. 7279, otherwise known as the "Urban Development and Housing Act of 1992". It is represented that HG III Construction and Development Corporation is a contractor for the development of the 50 hectares resettlement project, Phase III located at Barangay Poblacion, Muntinlupa City; that pursuant to Presidential Proclamation (PP) No. 234 dated August 15, 2002, as amended by PP No. 335 dated February 27, 2003, the 50 hectare portion of the New Bilibid Prison (NBP) reservation was placed under the administration of the National Housing Authority (NHA); that on July 26, 2007, it has entered into a Joint Venture Agreement with the National Housing Authority (NHA); and that the identified 50-hectare NBP site was reserved for socialized housing development pursuant to the instructions of President...