August 26, 2009
BIR RULING [SH-(079) 521-09]
20 RA 7279; S20-111-2000
Polychem Properties, Inc.
Room 602, Cattleya Condominium
Salcedo St., Legaspi Village
Makati City
Attention: Ms. Rosalie D. S. Guarin
Accountant
Gentlemen :
This refers to your letter dated November 24, 2008 requesting exemption from the payment of taxes on the sale of parcels of land pursuant to Republic Act (R.A.) No. 7279, otherwise known as the "Urban Development and Housing Act of 1992".
Documents submitted disclosed that a Deed of Assignment was executed by Carlito S. Marquez and Polychem Properties, Inc. wherein the former shall transfer real properties in exchange for 25,000 shares of Polychem Properties, Inc.; that the proofs of payment of capital gains and documentary stamp taxes and the Certificate Authorizing Registration/Tax Clearance Certificate on the transfer of real properties in exchange for shares are attached; that the subject properties involved in the transaction are covered by various Transfer Certificate of Title Nos. 34862; 34863; 34864; 34865; 34866; 34867; 34868; 34869; 34870; 34871; 34872; 34873; 36404; 36405; 36406; 36407; 36462; 36463; 36464; 36465; 36466; 36467; 36468; 36469; 36470; 36471; 36472; 36473; 36474;...
