BIR Ruling No. 423-2017

REPUBLIC OF THE PHILIPPINES

DEPARI'MENT OF FINANCE BUREAU'OF INTERNAL REVENUE Quezon City

LtpP! Certificate of Tax Exemption No

W

CERTIFICATE OF TAX EXEMPTION

issued to

THE HENRY V. MORAN FOUNDATION, INC.

101. Connecticut corner Missouri St.. Greenhills, San Juan Clty SEC Company Reg. No. TIN

primary purpose is one of those enumerated under Section 30 (E) of the National Internal Revenuc'Code of 1997. as amendcd. It is exempt from iNCOME TAX only on thc following This certifies that the above-named corporation has proven by actual operation that its

revenues or receipts:

I. Donations.

nothing follows

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

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 threc (3) years from the date of issuance unless

Certificate shali be deemed a revocation thereof upon the expiration of the three (3)-year provided under Revenue Memorandum Order (RM0) No. 20-2013. Failurc to renew this This Certificate may be renewed upon filing of a subsequent application for revatidation

period.

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

Issued this day of

Commissioner of Internal Revcuue CAESAR R. DULAY

ZK-I-LMAT CELIA C. KING Cua c.

Deputy Commissioner Resource Management Group

Officer-In-Charge

THE HENRY V. MORAN FOUNDATION IN( CTE NO. Date issued A

OF THE CERTIFICATE OF TAX EXEMPTION TERMS AND CONDITIONS

TAX EXEMPTIONS

1) INCOME TAX.

tax only on revenues and receipts enumerated on the Certificate of "Tax Exemption provided, that no part of its net income or asset shall belong to. or inure to the benefit of any member, organizer. officer or any specific person. THE HENRY V. MORAN FOUNDATION, INC. is exempt from the payment of income

LIABILITY FOR INTERNAL REVENUE TAXES

1) INCOME TAX

disposition thercof. which income should be returncd for taxation. THE HENRY V. MORAN FOUNDATION, INC.is subiect to income tax on all its income/receipts/revenues not expressly exempted and stated in the Certificate of 'l'as Exemption. Moreover. it is subject to the corresponding internal revenuc taxes iniposed under the Nationai 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

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 percen (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 27(D)(1) in relation to Sec. 57(A) both of the National Internal Revenue Code of 1997. as I ikewise. interest income from currency bank deposits and yield or any other monetary seven and one-half percent (7-1/2%) final withholding income tax pursuant to Section amended.

2) VALUE ADDED TAX

If THE HENRY V.MORAN FOUNDATION,INC. is engaged in the sale of goods or general. it shall be liable for value added tax on the revenues derived therefrom. services in the course of a business pursuit, including transactions incidental thereto. in

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

3) WITHHOLDING TAX

corporations subject to the withholding tax pursuant to Section 57 of the National Interna! Revenue Code of 1997. as amended, as implemented by Revenue Regulations No. 2-98. as THE HENRY V. MORAN FOUNDATION, INC. shall be constituted as withholding agent for the government if it acts as an employer and its employees receive compensation National Internal Revenue Code of 1997. as amended, as implemented by Revenue income subject to the withholding tax under Section 79 (A). Chapter XI!1, T'itle I1 of the Regulations No. 2-98, as amended, or if it makes income payments to individuals or amended.

TAXPAYER'S DUTIES & RESPONSIBILITIES

l) THE HENRY V.MORAN FOUNDATION,INC. is required to file on or before thc 15th day of the fourth month following the end of the accounting period a Profit and l.oss Statement and Balance Shect with the Annual Information Return under oath. stating its

THE HENRY V. MORAN FOUNDATION. INC. Date issued 9a4-2017 CTE NO 420

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 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 Return.

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

3) Further. it is also required under Section 6(C) in relation to Section 237 of the National Memorandum Circular No. [RMC] No. 76-2003) Internal Revenue Code of 1997, as amended, to issue duly registered reccipts or sales or commcrcial invoiccs for cach sale or transfer of merchandise or for services rendered which are not directly related to the activities for which the Association is registered. (Revenue

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.

TK-LMAT