BIR Ruling No. 469-2018

REPUBLIC OF THE PHILIPPINES

DEPARTMENT OF FINANCE BUREAU OF INTERNAL REVENUE

Quezon City

Certificate of Tax Exemption No.

469-2018

CERTIFICATE OF TAX EXEMPTION

issued to

2ad Floor Kina Building.National Highway,Subangdak u, Mandaue City OLIVE GROVE CHRISTIAN MINISTRIES.INC TIN:

SEC Company Reg. No.

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

1.Tithes, offerings, pledges; and 2. 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 above.

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

This Certificate may be renewed upon filing of a subsequent application for revalidation

Certificate shall be deemed a revocation thereof upon the expiration of the three (3)-year period. provided under Revenue Memorandum Order (RMO) No. 20-2013. Failure to renew this

This Certificate of Tax Exemption is being issued on the basis of the facts and 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.

Issued this day ofMAR 13 2018

1

K-1-ASB Commissioner of Internal Revenue CAESAR R.DULAY 014270

Olive Grove Christian Ministries, Inc. Page 2 of 3 CTE No.469-2018 Date issued 3-13-2018

TERMS AND CONDITIONS OF THE CERTIFICATE OF TAX EXEMPTION

TAX EXEMPTION

1) INCOME TAX.

OLIVE GROVE CHRISTIAN MINISTRIES,INC.is only cxempt from the payment of

income tax on revenues and receipts enumerated on the Certificate of Tax Exemption

Moreover, to be entitled to the tax exemptions enumerated herein. the

association/corporation/ organization must continue to meet the requirements set forth

under Revenue Memorandum Order No. 20-2013.

LIABILITY FOR INTERNAL REVENUE TAXES

1) INCOME TAX

OLIVE GROVE CHRISTIAN MINISTRIES,INC. is subject to income tax on all its income/receipts/revenues not expressly exempted and stated in the 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 income derived from

any of its properties. real or personal. or any activity conducted for profit regardless of the

disposition thereof. which income should be returned for taxation.

Likewise, interest income from currency bank deposits and yield 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 percent (7-1/2%) final withholding income tax pursuant to Section 27(D)(1) in relation to Sec. 57(A) both of the National Internal Revenue Code of 1997, as

amended.

2) VALUE ADDED TAX/PERCENTAGE TAX

If OLIVE GROVE CHRISTIAN MINISTRIES, INC is engaged in the sale of goods or services in the course of a business pursuit. including transactions incidental thereto. its revenues derived therefrom shall be subject to the 12% VAT, in case the gross receipts from such sales exceeds One Million Nine Hundred Nineteen Thousand Five Hundred Pesos (P1,919.500.00), or to the 3% percentage tax, if gross receipts do not exceed P1.919,500.00.

Notwithstanding that it is a non-stock. non-profit corporation. its purchase of goods or

properties or services and importation of goods shall nevertheless be subject to the 12%

VAT pursuant to Sections 106 and 107 of the National Internal Revenue Code of 1997,as

amended.

3 WITHHOLDING TAX

OLIVE GROVE CHRISTIAN MINISTRIES,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 under Section 79A),Chapter XIII,Title II of the National Internal Revenue Code of 1997, as amended, as implemented by Revenuc Regulations No.2-98. as amended. or if it makes income payments to individuals or corporations subject to the withholding tax pursuant to Section 57 of the National Internal Revenue Code of 1997,as amcnded.as iniplemented by Revenue Regulations No.2-98.as

amended

Olive Grove Christian Ministries, Inc. Page 3 of 3 CTE No.469=2018 Date issued 3-13-2018

TAXPAYER'S DUTIES & RESPONSIBILITIES

OLIVE GROVE CHRISTIAN MINISTRIES, INC, is rcquired to file on or before the that there has not been any change in its By-laws. Articles of Incorporation, manner of gross income and expenses incurred during the preceding period and a certificate showing 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. Statement and Balance Sheet with the Annual Information Return under oath, stating its 15th day of the fourth month following the end of the accounting period a Profit and Loss

2) Under Section 235 of the National Internal Revenue Code of 1997, as amended, any provision of existing general and special law to the contrary notwithstanding. the books of incentives shall be subject to examination by the BIR for purposes of ascertaining compliance with the conditions under which i has heen granted tax exemptions or tax accounts and other pertinent records of tax-exempt organization or grantees of 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 NIRC 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 thc Association is registered.(Revenue Memorandum Circular No. [RMC] No.76 2003).

4)Finally,it is subject to the payment of registration fee of PhP 500.00 as prescribed in Section 236(B) of the National Internal Revenue Code of 1997.as amended.