December 22, 2009
BIR RULING [SH-(135) 804-09]
S-20-028-07
Goldenville Realty and Development Corporation
3368 Harvard Street, Pinagkaisahan
Makati City
Attention: Ida Abendaño-Guintu
President/General Manager
Gentlemen :
This refers to your letter dated November 15, 2009 requesting for a ruling that as a project contractor 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 Goldenville Realty and Development Corporation is a domestic corporation duly registered with the Securities and Exchange Commission (SEC); that on November 23, 2009, a Deed of Absolute Sale was executed by Marcelo E. Belesina herein represented by Goldenville Realty and Development Corporation, as the Vendor/Developer, in favour of the National Housing Authority (NHA), a government owned and controlled corporation duly organized and existing under PD No. 757, as amended; that pursuant to Executive Order No. 90 dated December 17, 1986, the NHA is the sole government agency engaged in the direct shelter production to provide the...
