BIR Ruling No. 650-2019

REU SAI PA TR:HILIPPNES

DTARENOHANCE BLREGOFNTENTLFEVENUE

deick t ir

Certificate of Tax Exenption N

CERTIFICATE JF TAXEXEMPTION

issuea t

OURLADY CFFFTMAACADEMYINC.

General -at. d. Nuea Eeija 3125

TN: Sec Corpay Rez. No.

Tnis eerifes trat the abcve-rarnst. cerporatn is a non-stcck, non-profit corporation aru ts prov en by .eual operatien chat its piriar piurpose is one of those enumerated under Setor 301 n, of the National Interm.. Ras er.: Code of 1997, as amended. It is exempr froin Lt ..... t.K cnl, on the foliowir- rer ennes or receipts:

T_ition fees and Otner s noe- t-ae: ura Hncome -eri ed from tne J.sra:on Ji eafeterias/eanteens, dornitories and scoksteres iceated .itnin its prtimiss. evacd ans operaied by CUR_LADY OF FATIM -SaLE iY INC., to be wtatty, direruy anu exclusively ased for educatome (rp03es

thine toncw

Stt ee. .o ue prov.sik ns of applicntle DiR rules and regulations and the tax exemptions. Ht lt.es a..t respo.si.iities stated i.. t. Tems and Conditions hereto attached and mace an Irie arei part Hereor it i: Hiable. howe' er .: ali oufer taxes not enumerdted above.

"Hi: tertiit tien shai te vai.t tn the date sf issuanee unul revoked by this Odise .S.ato o ary Jrovisions of app.earis riles ad reguiations of the BIR, or the terms and er.ticns herein se fnth. It shall t.e se be reyoked if there are material changes in in- .T.ueter. pu pose c. niethod of opere.ie.. St the corporation which are inconsistent with the ess for its aecme .ar exenpuon.

Hnis -erti at- of Tas Exeue: s cenz issued on the basis of the facts ant d -.ets a: repre: ented and submired. H-owe er. i upon investigation. the BIR aseertains tt t ects tre cierent, then tnis Cericue snail be considered nuli and void.

Iss ted. this day of

T

Commissioner of Internal Revenue AESARR.DULAY

02383

GLr i FanaAcuaemH CTE NO Yarea ais Date issuea E

TERAL CUNTIONS OF THE CEFTIFCFIE CF TAX EXEMPTION

aer act 30 H ofte KariunInernshRevenue Code of1997.as areneed LeNon-SorkaEauaticaalIrstisticn

TEERTIO

KCOE rAh CSRLLVCLETZAEiEMNCis exempI from the paynent or is anderstood ti.at de scheci rus. ct HM- te neet the foliowing fequisites as set foith under Ke.ene Mero.andm Crder (R.+; Ns ---2ole. to wit hicene te ci: ca :evenues and -ece pus ciumerated on the Certifieate of Tas Exempilon.It

Tes reverLe. are aetualiy: d .eeri: ui enctusively used for educational purposes. H .s d n. n-t.ck, nda-p. ial t.stiiaicn: aa

Ue foiov. ng. tha. as a tax-exeript -ducational inetitati.r. r sha on aa annual basis submit to the Revenue Distriet Oice ecneere a.. annual inforf..on :-turf: and auly audited financial statement together with ptrpose as an ecuctonal instiutsn. are eren.pi from the 20% final tax anid 15%l tax on interest hneone -ader th: enpanded foreign cartent y Seposit system imposed under Section 27 (D) (1) St tne Nationa: Inte Twi Revente Code ef l- 7. as amended, subject to compliance with the conditicns CU LY CE-TvC-tZMisC.'s interest incone fron eurreney bank deposits and Teta fro.. dep: Ht substitute instran"erts used actuallv, directly and exclusively in pursuanee of is

c 1997. as amended: -y sten: np&sed by Sectio.. 2? (D):I': of th- National Internal Revenue Code a)Cerl Heaton fror tei ceytery oanks as to the amount of interest income earnea :ron passive inves:1. .e: subjeet ic the 20% final withholding tax .rd l5: tax on interest in.oms uier the expandei foreign curreney deposit

(S,cerr: iach ofactnal iize: of the sze income: and

Isilowir.g th : end cf ins a, .t.: eur (See. - Finance Department Order No. (c,Bear : Resclution by t. aehes) aarittration on proposed projects (ie. Wr equipnen. books and u .- tke, to be fu.n ded cut cf the money deposited in eenstruc :ion and/or inprov -n- of senool buildings and facilities, aceuisition tanks o: placed in money -....ne5. 5 cr betere the I 5th day cf the fourth month 137-87

Z)/ALUE AEDED TAX (VAF) LN ALUCATIONAL SERVICES. PurSUant W SeCtiON -ken:pt frer taxau.cn provided they ae c. hed and operated by it as ancillary activities. cperatens a a r Jr-siock, non-prst eauhicnl instution is exempt frem VAT. Moreover, PCOxstores iocate- whin the pren. cE cI CLX -ZDY OF FATIMAACADEMYINC. are -e.crues .rivel frcm assets useu :: she eperation of cafeierias/canteens, dormitcries and IOSH, eI the vRC, OtRLLE STSATEACADEMY,NC.s gross receipts from

LI3ATYROKETEINALREELLELZLES

I)ACMRIAX

inconiereceifes/rever ues aor expressi: -x--pie a and stited in the Cerrificate of Tax Exenption. SLEOFTMTCAE -lnt. is sabject to income tax on all fts

. ,

arlad o FatinAaademy hne Yae3a3 CTE No. Date issued

M.v.. h .s subie u tne eorresporia eral revente taxes imposed under National intermai Fe en.. Cels of l9e T. a : amended. as arer:ieu.ar.t in.one deried fron any of its properties. real .- pe'scnai, e: any attiv y condueted ro: prcr, nicr h.one should be returned ror taxaticu, uniess sai- res erues are act.aly directi anc cle. c: tstw f. edueational purposes.

TWALUEADLELTLPERCENTACE TA

H LR LeV soF FiTIliAaCaPLC, s engaged in the sale of goods or services in tne csafse et a business pursuit. ineudi- tarsacnions incidental thereto. its revenues derived t.retron shull r: su.t jeer to the I2-. AT tt case the gress reeeipts from such sales exceed Three : rtsn Pesos r3.0oc.000.(0o). or te ine 23. preentage tax, if gross receipts do not exteed 13(O00.

M...v tsanding iat it is a non-st._k. t...-.reft corporation, hs purehase of goods of properties -: sers ices Hind i.npo:tation cf goodis stail ne-ertheless be subject to the l2% VAT pursaant to Sesuons 10t and 107 of the Naticnal ntral Revenue Code of 1997,as amended.

3; WITHHOLDRG TAX

L LtDY Or F.-Iki-ncmea. iye. snall be constiuted as wahholaing agent for ine -. erniert if it a cis us an employer and His empioy ees receive compensaticn income subject to the . iri.ciing tax i.nde: Sectisr. 79 (-.; Ch:pter Xii., Titie li of ine National internal Revenue Code -7 : 997.as amered. as implemente cy Kevenue keg-lations No. 2-98, as amended. or if it maxes T.esne p- mert to iaai iduais cr eerporatioas subject to the whhholding tax pursuant to Seetion

- i the Netional internal Revenue Coee or 1997. ai amended, and as implemented by Revenut Fetaties No --93. as aneided.

TLLENUTSRESPONSHES

Ltat me-OEari-caeTic, is rec aired to file on or before the I5th aay ot the rourt. inerth fciiswing the end ct tr.3 aceouitihg peried a Profit and Loss Statement and Batance Steer wtr the -nr-al intorinatior Feuarn under Sutn, stating its gross inecme and expenses t.cur-ea saring te preceding period wne a cerifieute showing tnat there has nor been any change .. s E.-aws. A.tie.es ef ineorperato., nianner of operation and activities as well as sources and disttsittan of h.rone. Copy cr this Certiricate Sr rax Exemption shall be atached to the To eeched c.nal nforation Rer

2. t ..e: Sei.icn 2: 5 cl tie Natioral inerrat Feverue Code of 1997, as amended. any provision or

e.sistite 3eneral utd special iaw ie tie coira.: nerwihstanding, the books ot accounts and other Pelent resords cf iax-exempt aeafiation or grantees of tax ircentives shali be suojeci to H..niratio. by ti.e BiR for purpeses &f .sce:tinitg conipliance with the conditions under which I has tee. granel ra. exen.piions c ta. iucenives, and its tax Hiabilities, if any.

E: Fitner. r is aso reeuired under Seetio.: Etc: in reizrior to Section 237 of the National intemal

Ne..... Code c.' .>9?. as aner.est. u. issue auly registered receipts or sales or conmercial. H tices fot eact: sae cr transfer cr mer.handise or for services rendered which are not direethy Acled : te act. nes for vT:ien th.: -oe ation is egistered. (Revenue Memorandum Circular N0.RMC] Nc. 5-2003

- F.t.liy.:t is sutje et .c tne payment ct iegistrn.or ree of +500.00 as prescribed in Section 236 B,

' te ucnal Irernal Reverue Coe s19 7, as anerdeu.