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March 5, 2009BIR RULING [SH-(018) 186-09]RA 7279; DA-067-03Filinvest Land Incorporated173 P. Gomez StreetSan Juan, Metro ManilaAttention: Atty. Andrew James Gerard D. RuizTax CounselGentlemen :This refers to your letter dated March 22, 2007 requesting confirmation of various tax consequences arising from the sale of socialized housing units (lots and houses and lots) by Filinvest Land, Inc. It is represented that Filinvest Land, Inc. ("FLI" for brevity) is a corporation organized and existing under the laws of the Republic of the Philippines; that it is engaged in the business of acquiring, developing and selling real estate, including residential subdivisions, and socialized housing projects and units; that it owns the following real property, developed into socialized housing project and duly registered with the Housing and Land Use Regulatory Board (HLURB), specifically under Section 21 of "The Rules and Standards for Economic and Socialized Housing Projects to Implement Batas Pambansa 220":Sunrise Place SubdivisionLocation : Barangay Trece Cruces, Tanza, CaviteHLURB Registration Number : 16070-R4A-07-02, February 28, 2007Date of RegistrationLicense to Sell Registration : 16888-R4A-07-02, February 28, 2007number, date of IssuancePcs-04-023349  ...