BIR to help process housing tax exemptions

The Bureau of Internal Revenue (BIR) has entered into a Memorandum of Agreement (MOA) with the Socialized Housing Finance Corp. (SHFC) to facilitate processing and issuance of capital gains tax certificate of tax exemption (CTE) for transfer of raw lands from landowner to community or homeowners association intended for national government socialized housing projects under the Community Mortgage Program (CMP) of Republic Act (RA) 7279 or the Urban Development and Housing Act of 1992.

The SFHC is a subsidiary of the National Home Mortgage Finance Corp. (NHMFC).