August 26, 2009
BIR RULING [SH-(081) 531-09]
S-20-028-07
Goldenville Realty and Development Corporation
3368 Harvard Street, Pinagkaisahan
Makati City
Attention: Ida Abendaño-Guintu
President/General Manager
Gentlemen :
This refers to your letter dated April 15, 2009 requesting for a ruling that as a project contractor of socialized housing project under Republic Act (RA) No. 7279, otherwise known as the Urban Development and Housing Act of 1992, it is exempt from the payment of project related income taxes, value-added tax (VAT) and the capital gains tax.
It is represented that Goldenville Realty and Development Corporation is a domestic corporation duly registered with the Securities and Exchange Commission (SEC); that on the other hand, Spouses Jose Capuchino and Pacencia Lijauco (Spouses Capuchino) are the absolute and registered owners of a parcel of land located at Lot 775, Barangay Caingin, Sta. Rosa City, Laguna covered by TCT No. T-25576 and consisting of 14,371 square meters; and that a proposed Deed of Absolute Sale will be executed by Spouses Capuchino in favour of Goldenville Realty and Development Corporation for the development of socialized housing project for the residents of...
