BIR Ruling No. 392-2017

REPUBLICOF THE PHILIPPINES

BUREAU OF INTERNAL REVENUE DEPARTMENT OF FINANCE

Certificate of Tax Exemption No.

392~2017

Metrogate Tagaytay Estate,Kavbagal Central, Tagayay City MIAO DE CHAN TEMPLE,INC. TIN

SEC Reg. No.

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

1. Donations

nothing follows

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: 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 three (3) years from the date of issuance unless

period. 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 This Certificate may be renewed upon niing 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 AUG 302017

Commissioner of Internal Revenue CAESAR R.DULAY

K-I CELIAC.KING Cui c.la

Resource Management Group Deputy Commissioner

Officer-In-Charge

Page 2 of 3 MIAO DE CHAN TEMPLE,INC. Date issued 8-30-2017 CTE No.392-2017

OF THE CERTIFICATE OF TAX EXEMPTION TERMS AND CONDITIONS

TAX EXEMPTION

1) INCOME TAX.MIAO DE CHAN TEMPLE,INC. is only exempt from the payment of Moreover. tobeentitled to the taxexemptions enumeratedherein the association/corporation/ organization must continue to meet the requirements set forth income tax on revenues and receipts enumerated on the Certificate of Tax Exemption. under Revenue Memorandum Order No. 20-2013.

LIABILITY FOR INTERNALREVENUE TAXFS

1 INCOME TAX

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

27D)(1) in relation to Sec. 57(A) both of the NIRC. Likewise, interest incone fron currency bank deoosits and yield or any other monetary benefits from deposit substitute instruments and from trust funds and similar arrangements, (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 and royalties derived from sources within the Philippines are subject to the twenty percent

2) VALUE ADDED TAX

If MIAO DE CHAN TEMPLE, INC. is engaged in the sale of goods or services in the liable for VAT on the revenues derived therefrom. course of a business pursuit, including transactions incidental thereto. in general, it shall be

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

subject to the withholoing tax under Section 79A), Chapter XIII,Title fI of the NIRC.as implemented by Revenue Regulations No. 2-98,as amended. or if it makes income 57 of the NIRC.as implemented by Revenue Regulations No.2-98.as amended. MIAO DE CHAN TEMPLE,INC. shall be constituted as withholding agent for the government if it ats as an employer and its employees receive compensation income payments to individuals or corporations subject to the withholding tax pursuant to Section

Page 3 of 3 MIAO DE CHAN TEMPLE, INC. Date issued017 CTE No.3922017

TAXPAYER'S DUTIES & RESPONSIBILITIES

2) Under Section 235 of the NIRC, any provision of existing general and special law to the 1) MIAQ DE CHAN TEMPLE, INC. is required to file on or before the 15th day of the activities as well as sources and disposition of income. Copy of this Certificate of Tax organization or grantees of tax incentives shall be subject to examination by the BIR for purposes of ascertaining compliarce with the conditions under which it has been granted Balance Sheet with the Annual Information Return under oath, stating its gross income and been any change in its By-laws, Articles of Incorporation, manner of operation and contrary notwithstanding,the bec ks cf ac counts and other pertinent records of tax-exempt tax exemptions or tax incentives, and its tax liabilities, if any. fourth month following the end of the accounting period a Profit and Loss Statement and expenses incured duing the preceding period and a certificate showing that there has not Exemption shall be attached to the aforementioned Annual Information Return.

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- 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 2003

Finally, it is subject to the payment of registration fee of PhP 500.00 as prescribed in Section 236(B) of the NIRC.