BIR Ruling No. 515-2017

BUREAU OF IN TERNAL REVENUE REPUBLIC OF THE PHILIPPINES DEPART'MENT OF FINANCE

Quezon City

Certificate of Tax Exemption No

:*

CERTIFICATE OF TAXEXEMPTON

issued to

TRIUMPHANT PEOPLE'S EVANGELISTIC THEATRE SOCIETY,INC

804 Greenbelt Mansion, 106 Perea St.. Legaspi Village. Makati City TIN

SFC Reg. No.

T'AX only on the following revenues or receipts: proven by actual operation that its primary purpose is one of those enumerated under Sectior 30 (E) of the Nationat Internal Revenue Code of 1997, as amended. It is exempt from INCOME This certifies that thc above-named entity is a non-stock. non-profit corporation and has

1 Donations.

othing folloy

liabilities and responsibilities stated in the Terms and Conditions hereto attached and made an integral part hereot. It is liablc, howcvcr, to all other taxes not enumerated abovc. subject to the provisions of applicable BiR rules and regulations and the lax exemptions

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

period. Certificate shall bc deemed a revocation thereof upon the expiration of the three (3)-year provided under Revenue Memorandum Order (RMO) No. 20-2013. Failure to renew this This Certificate may be renewed upon filing of a subsequent application for revalidation

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

Issucd this. --day of_NOY 0 7_2017

Commissioner of Internal Revenuc CAESAR R. DULAY 010978

Triumphant People's Evangelistic Theatre Society, Inc. CIE No. * Pagc 2 of 3 Date issued : : -7--

OF THE CERTIFICATE OF TAX EXEMPTION TERMS AND CONDITIONS

TAX EXEMPTIONS

1) INCOME TAX.

exempt from the payment of income tax only on revenues and receipts cnumerated on the Certificate of Tax Exemption provided, that no part of its net income or asset shall helong to. or inure to the benefit of any member. organizer. officer or any specitic person. TRIUMPHANT PEOPLE'S.EVANGELISTIC THEATRE SOCIETY._INC. s

LIABILITY FOR INTERNAL REVENUE TAXES

!) INCOME TAX

TRIUMPHANT PEOPLE'S EVANGELISTIC THEATRE SOCIETY INC. is Subjccl

income derived from any of its properties. real or personal, or any activity conducted for profit regardless of the disposition thereof. which income shouid be returned for taxation. Certificate of Tax Exemption. Moreover, it is subject to the corresponding internal revenue taxes imposed under the National Internal Revenue Code of 1997. as amended. on its to income tax on all its income/receipts/revenues not expressly exempted and stated in the

Show/ticket saies. workshop fees. proceeds from the sale of merchandise/souvenirs and sponsorships arc subject to incomc tax.

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 27(D)(1) in relation to Sec. 57(A) both of the National Internal Revenue (Code of 1997. as Likewise, interest income from currency bank deposits and yield or any other monetary benefits from deposit substitute instruments and from trust funds and similar arrangenents. depository bank under the expanded forcign currency deposit system shall be subject to seven and one-half percent (7-1/2%) final withholding incomc tax pursuant to Scction

antended.

2) VALUE-ADDED TAX

H TRIUMPHANT_.PEOPLE'S EVANGELISTIC THEATRE SOCIETY.INC. is

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

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

Page 3 of 3 Triumphant People's Evangelistic Theatre Socicty. Inc Date issued 11-7-28 17 CTE No.EATSO7

3) WITHHOLDING TAX

TRIUMPHANT PEOPLE'S EVANGELISTIC THEATRE SOCIETY,INC. shall be constituted as withholding agent for the government if it acts as an employer and its employees receive compensation income subject to the withholding tax undcr Section 79 (A). Chapter XHII. Title iI of the National Internal Revenue Code of 1997, as amended, as implemented by Revenue Regulations No. 2-98. as amended. or if it makes income

57 of the National internal Revenue Code of 1997. as amended. as implemented by payments to individuals or corporations subject to the withholding tax pursuant to Section

Revenuc Regulations No. 2-98. as amended.

TAXPAYER'S DUTIES & RESPONSIBILITIES

1) TRIUMPHANT PEOPLE'S EVANGELISTIC.THEATRE SOCIETY, INC. is

required to fiie 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 oath. stating its gross income and expenses incurred during the preceding period and a certificate showing that there has not been any change in its By- laws. Articles of Incorporation, manner of operation and activities as well as sources and disposition of incomc. 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

provision of cxisting general and special law to the contrary notwithstanding. thc books of accounts and other pertincnt records of tax-exempt organization or grantees of tax incentives shall be subject to examination by the BIR for purposes of ascertaining compliance with the conditions under which it has bcen granted tax exemptions or tax incentives, and its tax liabilities. if any.

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

commercial invoices for each sale or transfer of merchandise or for services rendered which are not directly related to the activities for which the corporation is registered. (Revenue Memorandum 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 amendec