October 9, 2009
BIR RULING [SH-(096) 634-09]
RA 7279; S-32-077-2000
Federation of Women in Cooperative
Mother Barangay, Tamontaka, Cotabato City
Attention: Lucia B. Nul
President
Gentlemen :
This refers to your letter dated October 21, 2008 requesting in effect, for a ruling that the sale of a parcel of land by Aniceto Yu married to Gloria S. Lobo to Federation of Women in Cooperative is exempt from the payment of capital gains tax pursuant to Republic Act (RA) No. 7279, otherwise known as the "Urban Development and Housing Act of 1992."
It appears that Aniceto Yu married to Gloria S. Lobo is the registered owner of a parcel of land covered by as Transfer Certificate of Title (TCT) No. T-21452 situated Barrio of Tamontaka, Cotabato City with an area of thirty four thousand forty two (34,042) sq.m.; that Federation of Women in Cooperative on the other hand, was formed with the sole purpose of promoting and improving the social and economic well being of its members; that it is engaged in socialized housing with Taxpayer Identification Number (TIN) 265-030-310; and that it secured...
