May 26, 2020
CERTIFICATE OF TAX EXEMPTION NO. BOI-LEH-273-20
CERTIFICATE OF TAX EXEMPTION
TO ALL WHOM IT MAY CONCERN :
This certifies that SM DEVELOPMENT CORPORATION, with Taxpayers Identification Number (TIN) 000-000-000-000, is exempt from income tax and creditable withholding tax on its income received directly in connection with its economic and low-cost housing project (vertical), Field Residences Building 5 — Sitio Balibatar, Brgy. Manuyo Uno, Las Piñas City, consisting of 619 housing units used solely for family home or dwelling purposes, located at Sitio Balibatar, Brgy. Manuyo Uno, Las Piñas City, 1 a project duly registered with the Board of Investments (BOI) under Registration No. 2017-094 dated April 12, 2017, for a period of three (3) years beginning from December 2017 or actual start of commercial operations/selling, whichever is earlier, but in no case earlier than the date of registration of the project with the BOI, pursuant to Executive Order No. 226, otherwise known as the "Omnibus Investments Code of 1987" and Section 2.57.5 (B) (2) of Revenue Regulations (RR) No. 2-98, as amended.
Moreover, the sale by the...
