BIR Ruling No. 326-2017

BUREAU OF INTERNAL REVENUE REPUBLIC OF THE PHILIPPINES DEPARTMENT OF FINANCE Quezon City

Certificate of Tax Exemption No.

326--2017

CERTIFICATE OF TAXEXEMPTION

issued to

Gomburza cor. McKinley St., Brgy. 10, San Jose, Laoag City 2900 THE LIVING GATES OF PRAISE CHURCH,INC SEC Company Reg. No. TIN:

and has proven by actual operation that its primary purpose falls 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 corporation is a non-stock, non-profit corporation

2. Donations. 1. Tithes and Offering; and

nothing follows

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

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. Failure to renew this Certificate shall be deemed a revocation thereof upon the expiration of the three (3)-year period. This Certificate may be renewed upon filing of a subsequent 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 Certificate of Tax Exemption is being issued on the basis of the facts and

Issued this day of UN 30 2017

oeaamy

K- Commissioner of Internal Revenue CAESAR R.DULAY 007460

The Living Gates of Praise Churcl,Inc. Page 2 of 3 CTE No. Date issued 326-2017 00

OF THE CERTIFICATE OF TAX EXEMPTION TERMS AND CONDITIONS

TAX EXEMPTION

1) INCOME TAX.THE LIVING GATES OF PRAISE CHURCH.INC.is only exemp association/corporation/ organization must continue to meet the requirements set forth under Revenue Memorandum Order No. 20-2013. 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

LIABILITY FOR INTERNAL REVENUE TAXES

1) INCOME TAX

Exemption. Moreover, it is subject to the corresponding internal revenue taxes imposed under the NIRC on its income derived from any of its properties, real or personal. or any returned for taxation. income/receipts/revenues not expressly exempted and stated in the Certificate of Tax activity conducted for profit regardless of the disposition thereof, which income should be THE LIVING GATES OF PRAISE CHURCH,INC.is subject to income tax on all its

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 NIRC. 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

2) VALUE ADDED TAX

general, it shall be liable for VAT on the revenues derived therefrom. services in the course of a business pursuit, including transactions incidental thereto. in If THE LIVING GATES OF PRAISE CHURCH,INC.is engaged in the sale of goods or

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 NIRC.

3) WITHHOLDING TAX

Section 57 of the NIRC, as implemented by Revenue Regulations No.2-98, as amended. THE LIVING GATES OF PRAISE CHURCH,INC. shall be constituted as withholding income subject to the withholding tax under Section 79 (A), Chapter XIII,Title II of the NIRC. as implemented by Revenue Regulations No. 2-98. as amended. or if it makes income payments to individuals or corporations subiect to the withholding tax pursuant to agent for the government if it acts as an employer and its employees receive compensatior

Page 3 of 3 The Living Gates of Praise Church, Inc. Date i ed b 3201 CTE No. 326*2017

TAXPAYER'S DUTIES & RESPONSIBILITIES

1) THE LIVING GATES OF PRAISE CHURCH,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 oath, stating its 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 income. Copy of this Certificate of Tax Exemption shall be attached to the aforementioned Annual Information Return. gross income and expenses incurred during the preceding period and a certificate showing

2) Under Section 235 of the NIRC, any 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 incentives shall be subject to examination by the BIR for tax exemptions or tax incentives, and its tax liabilities, if any. purposes of ascertaining compliance with the conditions under which it has been granted

3) Further. it is also required under Section 6(C) in relation to Section 237 of the NIRC to which the Association is registered.(Revenue Memorandum Circular No. [RMC] No.76- 2003). 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

4 Finally, it is subject to the payment of registration fee of PhP 500.00 as prescribed in

Section 236(B) of the NIR(