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October 26, 2009BIR RULING [SH-(102) 673-09]24 (D) (1); 196; DA-065-2004KPS Foundation, Inc.Purok Magsaysay, Barangay LabangalGen. Santos CityAttention: Mr. Rodrigo M. Olarte, Sr.President/CEOGentlemen :This refers to your letter dated July 14, 2009 relative to your request for exemption from the payment of taxes pursuant to the provisions of Republic Act No. 7279. It is represented that this pertains to the property at Barangay Calumpang acquired in 2005 as relocation site by the members of Mendoza Alliance Village Homeowners Association, Inc. (MAVHOAI) duly registered with the Housing and Land Regulatory Board per Reg. 00809 dated March 2, 2005; that it was subdivided among themselves and named the project Mendoza Alliance Village; that this project was jointly undertaken and facilitated by the KPS Foundation as originator; that the project provided land tenure security to more or less 144 families through a collective community acquisition called Community Mortgage Program (CMP) initiatives; that the transfer of ownership from the landowner to community association is now being processed by the said association as facilitated by KPS Foundation, Inc.; and that it...