May 26, 2020
CERTIFICATE OF TAX EXEMPTION NO. BOI-LEH-267-20
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 low cost mass housing project (vertical), Shore Residences Tower A and Tower B 1 — Seaside Boulevard corner Sunset Drive, Mall of Asia Complex, Pasay City, consisting of 1,634 housing units used solely for family home or dwelling purposes, located at Seaside Boulevard corner Sunset Drive, Mall of Asia Complex, Pasay City, a project duly registered with the Board of Investments (BOI) under Registration No. 2014-047 dated March 05, 2014, for a period of three (3) years beginning from November 2014 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 (EO) No. 226, otherwise known as the "Omnibus Investments Code of 1987" and Section 2.57.5 (B) (2) of Revenue...
