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June 24, 2010BIR RULING [SH-(014) 056-10]RA 7279; BIR Ruling No. 398-93; BIR Ruling No. DA-468-98;BIR Ruling No. SH-(041)317-09; BIR Ruling No. SH-(042)323-09Napico Homeowners Association VIII, Inc.851 Labanos Street, Napico,Manggahan, Pasig CityAttention: Ms. Olivia M. GaspeNAHA VIII PresidentGentlemen :This refers to your letter dated July 28, 2009 requesting on behalf of NAPICO HOMEOWNERS ASSOCIATION VIII, INC. (NAHA VIII) for an exemption from the payment of capital gains tax and documentary stamp tax relative to the transfer/individualization of title of a parcel of land from the NAHA VIII in favor of its qualified member-beneficiaries pursuant to Republic Act 7279 otherwise known as the "Urban Development and Housing Act of 1992". It is represented that NAHA VIII with Taxpayer's Identification No. 003-980-209-000, is the registered owner of a parcel of land located at Barangay Manggahan, Pasig City and covered by Transfer Certificate of Title (TCT) No. PT-119392 issued by the Registry of Deeds for Pasig City; that it is a non-stock, non-profit organization duly registered with the Home Insurance and Guarantee Corporation (HIGC) with Registration No. 04-2728 dated...