August 26, 2009
BIR RULING [SH-(082) 532-09]
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 July 1, 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, Active Realty and Development Corporation is the absolute and registered owners of a parcel of land located at Barangay Langkiwa, Biñan, Laguna covered by TCT No. T-313003 and consisting of 27,443 square meters; and that the said property shall be used for the development of socialized housing project for the residents of Sta. Rosa, Laguna, and other parts of Metro Manila that are living along the PNR railways.
In reply thereto, please be informed...
