BIR Ruling No. 441-2017

REPUBLIC OF THE PHILIPPINES

DEPAR'I'MENT OF FINANCE BUREAU OF INTERNAL REVENUE

Quezon City

Certificate of Tax Exemption No.

H 1-X 7

CERTIFJCATE OF TAX EXEMPTION

issucd to

RHEUMATOLOGY EDUCATIONAL TRUST FOUNDATION, INC Research Center for Iealth Sciences, 2F Medicinc Bldg.. U.S.T.. Espana. Sampaloc. Manila

SEC Company Reg. No. TIN

proven by actua! operation that its primary purpose is one of those enumerated under Section 30 (E) of the National Internal Revenue Code of 1997. as amended. It is exempt from INCOME TAX only on the following revenues or receipts: This certifies that the above-named cntity is a non-stock. non-profit corporation and has

1 Donations.

nothing follows

subject to the provisions of applicable BIR rules and regulations and the tax exemptions. liabilities and responsibilities stated in the Terms and Conditions hereto attached and made an integral part hereof. It is liable. however, to all other taxes not enumerated abovc.

earlier revoked by this Office for violation of any provisions of applicable rules and regulations of BIR. or the terms and conditions herein set forth. This certification shall be valid for three (3) years from the date of issuance unless

provided under Revenue "Memorandum"Order (RMO) No."20-2013. Failurc to renew this period. Certificate shall be deemed a revocation thercof upon the expiration of the threc (3)-ycar I'his Certificate may be renewed upon filing of a subsequcnt application for revalidation

that the facts are different. then this Certificate shall be considered null and void. documents as represented and submitted. However. if upon investigation, the BIR ascertains This Certificatc of Tax Exemption is being issued on the basis of the facts and

Issued this day of 8 2317

Commissioner of Internal Revenue CAESAR R. DULAY

Celia c. Kin W

Deputy Commissioner Resource Management Group Offirar-in.fharoe

RHEUMATOLOGY EDUCATIONAL Page 2 of 3 TRUST FOUNDAtION, INC. Date issued CTE No. 441-017 9-5-201

TERMS AND CONDITIONS OF THE CERTIFICATE OF TAX EXEMPTION

TAX EXEMPTIONS

1) INCOME TAX

the benefit of any member. organizer. officer or any specific person. RHEUMATOLOGY EDUCATIONAL TRUST FOUNDATION, INC. is exempt from the payment of income tax only on revenues and receipts enumerated on the Certificate of Tax Excmption provided, that no part of its net income or asset shall belong to, or inure to

LIABILITY FOR INTERNAL REVENUE TAXES

1) INCOME TAX

Certificate of Tax Exemption. Moreover, it is subject to thc corresponding internal revenue taxes imposed under the National Internal Revenue Code of 1997, as amended. on its income derived from any of its properties. real or personal, or any activity conducted for RHEUMATOLOGY EDUCATIONAL_TRUST FOUNDATION, INC. is subject to income tax on all its income/receipts/revenues not expressly cxempted and stated in the

profit regardless of the disposition thereof, which income should be returned for taxation.

Likewise. interest income from currency bank deposits and yieid or any other monetary benefits from deposit substitute instruments and from trust funds and similar arrangements and royalties derived from sources within the Philippines are subject to the twenty percent (20%) final withholding tax: Provided, however. that interest income derived by it from a depository bank under the expanded foreign currency deposit system shall be subject to seven and one-half perccnt (7-1/2%) final withholding income tax pursuant to Section 27(D)(1) in rclation to Sec. 57(A) both of the National Internal Revenue Code of 1997. as amended.

2} VALUE-ADDED TAX

If RHEUMATOLOGY EDUCATIONAL TRUST FOUNDATION INC. is cngaged in

incidental thereto. in general. it shall be liable for value-added tax on the revenues derived the sale of goods or services in the course of a business pursuit, including transactions therefront.

Notwithstanding that it is a non-stock. non-profit corporation. its purchase of goods or value-added tax pursuant to Sections 106 and 107 of the National Internal Revenue Code properties or services and importation of goods shall nevertheless be subject to the 12% of 1997. as amended.

RHEUMATOLOGY EDUCATIONAL Page 3 of 3 TRUST FOUNDATION, INC. Date issued CI'E No. 441-201 =6-20

3) WIT`HHOLDING TAX

RHEUMATOLOGY EDUCATIONAL TRUST FOUNDATION, INC. shall be

cmployees receive compensation income subject to the withholding tax under Section 79 constituted as withholding agent for the government if it acts as an employer and its

(A). Chapter XIH1. Title II of the National Internal Revenue Code of 1997. as amended. as implemented hy Revenue Regulations No. 2-98. as amended. or if it makes income Revenuc Regulations No. 2-98. as amended. payments to individuals or corporations subject to thc withholding tax pursuant to Section 57 of the National Internal Revenue Code of 1997. as amended. as implemented by

TAXPAYER'S DUTIES & RESPONSIBILITIES

1) RHEUMATOLOGY EDUCATIONAL TRUST FOUNDATION INC. is required to

file on or before the 15th day of the fourth month following the end of the accounting period a Profit and Loss Statement and Balance Sheet with the Annual Information Return under

certificate showing that there has not been any change in its By-laws. Articles of oath. stating its gross income and expenses incurred during the preceding period and a Incorporation. manner of operation and activities as well as sources and disposition of income. Copy of this Certificate of Tax Exemption shall be attached to the aforementioned Annual Information Return.

2) Under Section 235 of the National Internal Revenue Code of 1997. as amended. any incentives. and its tax liabilities. if any. incentives shali be subject to examination by the BIR for purposes of ascertaining compliance with the conditions under which it has becn granted tax cxcmptions or tax provision of existing general and special law to the contrary notwithstanding. the books of accounts and other pertinent records of tax-exempt organization or grantees of tax

3) Further, it is also required under Section 6(() in relation to Section 237 of the National Internal Revenue Code of 1997. as amended, to issue duly registered receipts or sates o

commercial invoices for each sale or transfer of merchandise or for scrvices rendered which are not directly reiated to the activities for which the corporation is registered. (Revenue Mcmorandum Circular No. (RMC] No. 76-2003).

4) Finally. it is subject to the payment of registration fee of PhP500.00 as prescribed in Section 236(B) of the National Internal Revenue Code of 1997. as amended.