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November 13, 2009BIR RULING [SH-(109) 709-09]S-20-028-07Jukens Builders and TradeRoom 209-2/F Paragon Office SuitesRN Pelaez Blvd.National Highways, KauswaganCagayan de OroAttention: Mr. Joelito J. TalaidProprietorGentlemen :This refers to your letter dated October 20, 2009 requesting for a ruling that as a project developer 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 Jukens Builders & Trade is a single proprietorship duly registered with the Department of Trade and Industry; that a Certificate of Registration No. 18904 and License to Sell were issued by the Housing and Land Use Regulatory Board (HLURB) for the Fatima West Plain Subdivision located at Pagatpat, Cagayan de Oro City; and that on November 12, 2009, a Certification was issued by the HLURB that the above-mentioned properties are intended for socialized housing project under RA No. 7279;In reply thereto, please be informed that pertinent portion of Section 20...