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BIR Ruling No. DA-378-05 (Tax treatment for joint ventures engaged in construction projects)

BIR Ruling No. DA-378-05

BIR Ruling No. DA-378-05 | 2005-09-05

Ayala Land, Inc.
Tower One, Ayala Triangle
Ayala Avenue
Makati City

Attention: Atty. Valerie C Feria

Gentlemen :

This refers to your letter dated June 23, 2004 stating that Manila Jockey Club, Inc. (MJCI) is a corporation duly organized and existing under Philippine laws; that it is the registered owner of a parcel of land located in Sta. Cruz, Manila with an aggregate gross area of 12,700 square meters covered by TCT No. 252038 (the Project Area); that Laguna Properties Holdings, Inc. (LPHI) is likewise a corporation duly organized and existing under the laws of the Philippines; that MJCI and LPHI executed a Joint Development Agreement...