December 11, 2009
BIR RULING [SH-(131) 771-09]
RA 7279; S-32-077-2000
Bascaran Realty & Developer
Garden Blossom Hotel, Suite 204
Barangay Sipi, Daraga, Albay
Attention: Ms. Virginia R. Garcia
Owner/Proprietor
Gentlemen :
This refers to your letter dated December 10, 2009 requesting for a ruling that the sale of real properties to the National Housing Authority under its Bicol Calamity Assistance Rehabilitation Effort (B-CARE) to Typhoon Victims is exempt from the payment of capital gains tax and documentary stamp tax pursuant to Sections 19 and 20 of Republic Act (RA) No. 7279, otherwise known as the "Urban Development and Housing Act of 1992". IDAESH
From the documents submitted, it appears that on December 3, 2009, a Memorandum of Agreement was executed between Bascaran Realty & Developer, as the landowner/developer, Woodsville Homeowners Association, Inc. as the association and the National Housing Authority (NHA) as the implementing government agency of Calamity Assistance Rehabilitation Effort (CARE); that Bascaran Realty & Developer is the absolute and registered owner of a parcel of land located at Brgy. Bascaran, Daraga, Albay covered by Transfer Certificate of Title (TCT) No. T-136563 containing an...
