BIR Ruling No. 420-2017

BUREAU OF INTERNAL REVENUE REPUBLIC OF THE PHILIPPINES DEPARTMENT OF FINANCE

Quezon City

Certificate of Tax Exemption No. 4202017

CERTIFICATE OF TAX EXEMPTION

issued to

187 Top Floor. Marlettes Bldg., Km. 4, Marcos Highway. Baguio City 2600 M.A.R.C.H FOR CHRIST,INC SEC Company Keg. No. TIN

Revenue Code of 1997, as amended. It is exempt from INCOME`TAX only on the following revenues or receipts: primary purpose is one of those enumerated under Section 30 (E) of the National Internal This certifies that the above-named corporation has proven by actual operation that its

1. Donations.

othing folloy

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

of BIR. or the terms and conditions herein set forth. earlier revoked by this Office for violation of any provisions of applicable rules and regulations This certification shall be valid for three (3) years from the date of issuance unless

Certificate shall be deemed a revocation thereof upon the expiration of thc three (3)-year period. provided under Revenue Memorandum Order (RMO) No. 20-20i3. Failure to renew this This Certificate may be renewed upon filing of a subsequent application for revalidation

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 hasis of the facts and

Issued this day of

Commissioner of Internal Revenue CAESAR R. DULAY

T K-1-LMAT Resourte Management Groun Deputy Commissioner CELIA C. KING X C

M.A.R.C.H FOR CHRIST, INC. Date issued _3-4 CTE NO. HC-CT

OF THE CERTIFICATE OF TAX EXEMPTION TERMS AND CONDITIONS

TAX EXEMPTIONS

1) INCOME TAX.

M.A.R.C.H FOR CHRIST, INC. is exempt from the payment of income tax only on revenues and receipts enumerated on the Certificate of Tax Exemption provided. that no

organizer, officer or any specific person. part of its net income or asset shall belong to, or inure to the benefit of any member.

LIABILITY FOR INTERNAL REVENUE TAXES

1) INCOME TAXI

or personal, or any activity conducted for profit regardless of the disposition thereof. which revenues not expressly exempted and stated in the Certificate of Tax Exemption. Moreover M.A.R.C.H FOR CHRIST, INC. is subject to income tax on all its income/receipts it is subject to the corresponding internal revenue taxes imposed under the National Intcrnal Revenue Code of 1997, as amended, on its income derived from any of its properties. real 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) 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 and royalties derived from sources within the Philippines are subject to the twenty perccnt (20%) final withholding tax: Provided, however, that interest income derived hy it from a

amended.

2) VALUE ADDED TAX

liable for value added tax on the revenues derived therefrom. If M.A.R.C.H FOR CHRIST, INC. is engaged in the sale of goods or services in the 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% value added tax pursuant to Sections 106 and 107 of the National Internal Revenue Code of 1997, as amended

3) WITHHOLDING TAX

the withholding tax pursuant to Section 57 of the Nationai Internal Revenue Code of i997. M.A.R.C.H FOR CHRIST, 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 79 (A), Chapter XHIl, Title II of the National Internal Revenue Code of 1997, as amended, as implemented by Revenue Regulations No. 2-98, as amended, or if it makes income payments to individuals or corporations subject to as amended, as implemented by Revenue Regulations No. 2-98, as amended.

TAXPAYER'S DUTIES & RESPONSIBILITIES

1)M.A.R.C.H FOR CHRIST, INC. is required to file on or before the 15th day of thc 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 gross income and expenses incurred during the preceding period and a certificate showing that there has not been any

MAR.CH FOR CHRIST. INC. Dafe issued _ CTE NO. 420-2017 21 42017

as sources and disposition of income. Copy of this Certificate of Tax Excmption shall be change in its By-laws, Articies of Incorporation, manner of operation and activities as well attached to the aforementioned Annual Information Return

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

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

4) Finally. it is subject to the payment of registration fee of PhP500.00 as prescribed in Section 236(B) of the National Internal Revenue Code of 1997, as amended.

T~K-I-LMAT