June 8, 2020
BIR RULING NO. CMP-303-20
RA No. 7279; BIR Ruling No. 034-15
Samahang Maralita Catmon
Homeowners Association, Inc.
Sitio 6, Catmon, Malabon City 1470
Attention: AAA
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Gentlemen :
This refers to your letter dated June 14, 2019, requesting exemption from capital gains tax (CGT), relative to the transfer of title of land from SAMAHANG MARALITA CATMON HOMEOWNERS ASSOCIATION, INC., in favor of its qualified member-beneficiary pursuant to Republic Act No. 7279 otherwise known as the "Urban Development and Housing Act of 1992." HTcADC
It is represented that SAMAHANG MARALITA CATMON HOMEOWNERS ASSOCIATION, INC., with Taxpayer's Identification No. 000-000-000-000, is the registered owner of the parcel of land located at Lot 1, Blk. 5, SMC Homeowners, Sitio 6, Gov. Pascual Ave., Catmon, Malabon City and covered by Transfer Certificate of Title (TCT) No. M-41937 issued by the Registry of Deeds of Malabon City; that it is a non-stock, non-profit organization duly registered with the Housing and Land Use Regulatory Board (HLURB) under the Certificate of Registration No. 01878; that the aforesaid lot was acquired through a loan under the Community Mortgage Program (CMP)...
