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December 17, 2009BIR RULING [SH-(133) 793-09]20 RA 7279; S20-111-2000Samahang Nagkakaisa ng San IsidroTarlac Homeowners Association, Inc. Phase II4 San Isidro, Tarlac CityAttention: Mr. Eduardo T. QuinteroPresidentGentlemen :This refers to your letter dated November 24, 2009 requesting for a ruling that the sale of a parcel of land to the Community Mortgage Program (CMP) beneficiaries is exempt from the payment of capital gains tax, documentary stamp tax, and other related taxes. AaHTIEDocuments submitted disclosed that the Samahang Nagkakaisa ng San Isidro Tarlac Homeowners Association, Inc. is a non-stock, non-profit organization duly registered with the Housing and Land Use Regulatory Board (HLURB); that it is an association of underprivileged and homeless citizens; and that TCT Nos. T-266846, T-209646 and T-209624 are the properties subject to the CMP pursuant to a certification issued by the National Home Mortgage Finance Corporation is actually part of a CMP project and shall be proportionately distributed to the association's qualified member-beneficiaries.In reply, please be informed that pursuant to Section 32 of R.A. No. 7279, pertinent portion of which reads:"Sec. 32. Incentives. —...