December 9, 2009
BIR RULING [SH-(128) 765-09]
RA 7279; S20-017-2007
City Government of Puerto Princesa
City Engineering Department
Housing Development Division
Palawan
Attention: Javier P. Quindoza
Officer-in-Charge
Gentlemen :
This refers to your letter dated July 17, 2009 requesting for a ruling that the sale by Blesilda A. Torres of a parcel of land located at Barangay Tiniguiban, Puerto Princesa City, Palawan, to the City Government of Puerto Princesa, Palawan, as represented by the City Mayor Hon. Edward S. Hagedorn, is exempt from capital gains tax pursuant to R.A. No. 7279, otherwise known as the Urban Development and Housing Act of 1992. EATCcI
It is represented that the City Government of Puerto Princesa, in line with its mandate of providing basic services to its constituents and working towards its goal of making the City informal settlers free in the years to come has acquired a 20,001 square meters raw land in Brgy. Tiniguiban, Puerto Princesa City to accommodate various request for housing assistance covered by Transfer Certificate of Title (TCT) No. 172802 issued by the Register of Deeds of Puerto Princesa City; that a Memorandum of...
