December 4, 2009
BIR RULING [SH-(123) 749-09]
22 (B); DA-047-2004
A.J. Mark Realty & Development Corporation
Annapolis Wilshire Plaza, 7/F Unit 710
No. 11 Annapolis Street, Greenhills
San Juan, Metro Manila
Attention: Mr. Joseph Cheng
President
Gentlemen :
This refers to your letter dated November 18, 2009 requesting for exemption from the payment of taxes pursuant to RA 7279, otherwise known as the Urban Development and Housing Act. aDSTIC
Documents submitted disclosed that A.J. Mark Realty & Development Corporation with Taxpayer's Identification No. 004-032-458-00, is duly registered with the HLURB Regional Field Office as the owner and developer of Grand Riverside Subdivision Phase II, classified under Batas Pambansa (BP) No. 220 as a Socialized Housing Program; and that it was also granted a License to Sell 2,504 lots/units of the said project located at Brgy. Pasong Camachile, Gen. Trias, Cavite.
In reply, please be informed that pursuant to Section 20 of Republic Act No. 7279, pertinent portion of which reads:
"Sec. 20. Incentives for Private Sector Participating in Socialized Housing. — To encourage greater participation in socialized housing, and further reduced the cost of housing units for the...
