BIR Ruling No. 643-2019

REUI-THE PFILIPPINES

HUREAIJEF LTERNAL RE+ENUE IE .:NENT CF FINANCE.

iu. 3n City

Cer iff :are of Tax Exemption No.

37010

CERTIFICA TT CIF TAX EXEIMPTION

isued to

OLRLALOFIHE.ETLS.SEMINRY COLLEGE.INC

"Sninary Road B. . Bagbay Novatickes Queion City

SEc ( : np : ny Reg. No.

This cerifios that the abive -1 .-es. co-porarion is a no-stock., non-profit corporation :nd h:as. proven by at t.l operatior :h: fr.: p:irc.ary purpese is ona of those: enumerated un.er :eior 30(H) of th e r-atiortl (nt a. fe -u Code cf :997, as araendec.. Xt is exempt :rom iN(CME rAX ony Cn the follovi! : verWes cr receipts:

1. Tuition f ces and Othet s+ in! fees: and 2 Income deIived fr arn th e 5: athun. of cafeterias'carteeng dormitories and bookstomes located w thin its premS :.*d anc! operate3 by ULADYQF THE ANGELS

SEMI .Y-CQLLEGf..C... lo pe actually, directly and exclusively used for educational purpe.ses.

..-- I th ng follws .

sutjeet to the prc-..ions oft' auppli.e'... E.F. r..es and :egulations and the tax exempt.ons. .ial i:t es ind respor sibilities stanec .. h: Terns: and Cc.ditio is Rereto at:ached and mace an .nuegral pant hereof. It is lianle, h.o v.. er. : tul ther texe's not emimeratec. above.

This certifie: t on shall be 'v 1 .- t+ n the: date cf :ssuar ce 'mtil revoked by this Cffice: tor violation of any j I 5visio.is cf ap: +atle rules and rer:ulatic ns: of the BIR, or the term:: enc.

con itions herein se:. forth. It shali . iu se oe revcked if there are material chariges in the:

che.ac:er, purpose o: method o% ep.ett ic.: c : tre corportio which are inconsistent with the:

basis for i s incone e x exer.iptic:.

This Certi iere of Tax Ex:ipi::n is teing issued on the basis of the facts and dor unent:s as repres eated and sut . i-d. Eowtver, if upon ivert.gation, the BIR ascertains

tha: the fasts are d ff erent, then th.....:teate: shall be considere: ull and void

Issued this .. day bi

AV CAUSR R. DULA Corrrnissi ontr of Internal Revenue K-1. JA.C 029821

a E: :'ag: 2: of 3 E ETE No. Da.t e issued EL 129

TF E M : HI CONDTONS OF THE CEETTACATE OF TAX EXEVETION I gr Non Stoe k.mn reftt Edutati oualInst itution nder Section.3tD.of...Le Ti: Hi...interualReveue Sodi of199 as Amsnded

TAMEXEMPTION

IINCOME TAXHLR LAEYHENSGELS SENJNAHY-COLLEGE.INC. iS eXGDt Yrom the payment -.1' income. tas o:: a -venues and rtteipts er. merated on the Certifi cate tf Tax Exemption. It is un.derste: v.I . It :l .: :s chtnot mu.st continu : te: meet the following: requi sites. Hs set feith unde: F.e'v enue Menior. r :. +n rder (RMC) Nc. 44--201e, t> wit:

t. It is a nc. .tock, ncr-prori. i- (.ipuat in.stitution; and H1. Its reven le ; are actuall. tir : ::. c. exc lusively used fer edueational purposes.

DIR IADYUFTHEANGEL.....EINRY-COLEGE...UC.'s interest income rcm :u rency bank deF :its and yielt r :H ct "osit siostiut :nstrunens used actually, directly and axclusively in pu:st:uince o. rs Fut: ) t: 1.s ait eduentional in :titutic n, are: exempt from the 20% Hiral -H:. and 15%2 tax c I interes: incc .: . i. ler he espanded fereign surrency deposit systern imposed -nder Section 27 c), (1) or the ".t.il ' : te:rral Revenue Code of 1997, as amended, subjet to tonpliarce with th: a conditic as :hat :, a Hx-exerpt edac:riona ins titution it shall on an anaual Hasi.s submit to th e I Revenue Distrir: (+" e : :ocened aun anr al inforration return and duly auc ited : nancial statement :ogether wit - tr e :: .Ic-. in: g.

(a)Cert. fi. a cion ficn: th ti c : j:si:rs banks as to the amour i cf interest income earned frc 11 passive Le: t :. :-t .151 s abject to the 20% final withholding tax and 153 - ass on interes: i c..le inder the expanded fo eig1 currency deposit system im 5osed by Seet: :: (+, of the Nat:mal Iaternal Revenue Code of 1997. a: amended:

(b)Certi fi: ation of actual : t .cat: t o% :e satd ingone: inc

(c)Board Zesolutior. by t .e t: :I acministratic:i on prop osed proiects (i.e., corstructi-f and/or Enbro : en': af .ich ol bu ili gs anl facilities, azquisition of equipm : nt, books an n:..k... to. te fuinded out of the mcney deposited in banks or p aced in iront.: I t +.ets. on cr before the 15th c ay of the fourth month following the end or it.s r x : I.e :. ear (Eec. 4, Finarce llepartment Order No. 137-87).

T+ VALLE ADDED TAX (VATI E : ELUCATIORAL SERVICES. FurSuant t: Sec iO

: 19(1)(H) of the N::ional litern. F .".t.t: Bode: of 1997. as anenHed, QURLADY_OE THE GEL SEMINRY-CDLL.INL. gross rece:pts fror op rations as a non-stock, ror p.cfit edtcational ir sti:ution i: exer :1 f -c t: VAT. Morecver, reve nuss derived from assets use d in tl e operation of ea eterias'cantee: , 1 rr: i:orios and bcolstores lor ared within the premise: of CUF LADY OF_EHE ANG-S-TMNAFT-COLLfGE.INC. are exempt from taXa:ion prcvided they are c' vned and ope.:- et , I: is acillary activities.

LLASILTYFORITEFNALHENEEAMEE

1: INCOME TAX.

2emt e Aet Vo. 10963 nsed thetacrae re: :.- +:r effectiv: -. 2018.

: at: 3 cf 3 Datc issued_yel--1 7-21 CTENO. 0 6 4 3-2 0 15.

i ucorne/receipts/rever. tes not exre.s s:y :ro.i: ved and stated in tho, Ct rti:ticate of Tax Exemption. .-Ior:over, it: is subjeet to the eerres :e n : i; i:te-ne. revenue "axes mp sed under National Internal HUFLADYOF THE ANGELS SEIV:.: F: =COLLEGE,INC, i suDject to income taX on ai iIs

: r au, activity conduet: : for pit fit, wht : - t.e: "e: should be ret-irned for"axation, unless said revenues + -e a.tielly, di-ectly an I exclus:vely - a I hr t.:lucational purposes. t.eve aue Coce of 195 7. as amerded, @1 i:, n : +ne He-ived fror:1 any of its properties, real or perscnal,

:)ALUE ADDEITAX/PERCEN:..FTAX

QUR_LADY 2THE ANGELiEMNAHY-COLLEGEIC is engaged in the sal of Tevenues derived th erefront sha.t b : :r-ect t: the 12% VAT, in as:: the gross receipts from Fuch c.0 not e:xceed P3 Gh, 000.0). .ods or services i . che cctrse c f .. --..:s pursuit, inclu ling t ans actions incidental theretc, :ts :ales exeed Three Million P:s0: (P :.X) 00.0)0): or to the 3% peicertage rax, if gro5s rece ip:s

T ctwithstanding thu.r it is a non-::e.ic1: pre:it. corporatien, its plr'chase: of goods or prope:tiss or servies and in; ortation of gec 1: s"&: nevetthele:ss be subject to the (2% VAT pursuart to :ections I06 and 1 of the Nation: ::r:l Fevenue Coce of I 19" as arnended.

:}{THHOLDING TAX

SUR_IADY CE.THE_ANGELS..IENINAY-CDLLEGE_IC. shalI be constitutec.as withhold.ng ageut for the aoverr 1. :i i: it acs as an empkyer and its employees receive c Dinbensaticn incot.1: subject te tire: v.: nh olding tax under Section 79 (A), Chapter XIH, Title II of t ne National Intern:+ Revenue Ccce: : 19+", at's ainende:d, a: implome ited by Fevenue Regulat os T o. .2-98, as amend i, or i1 .t n.e..:on : payrrents to individt als or corporations subject to. the ithhold:ng tax pu. hant tc :ectio 5::f .: I atitnal Internal Re renue Code of 1997, as amended. u nd as iinp.ementec. sy Rever.ue: Fe2. I:tici:s No. 2-98, as s mended.

AXPAYERDUTIS RESFDEIBHNTIES

}sUR LDY OF T-IE ANGLSI :HIAIYCOLLEGE ITIS. i; required to file on or be fore

the Sth day of th: feurth :nonth [el.ov! +g the end cof the accc un: ng period a Profit and Loss Statement and Baiar.ce Sheet ve:ti tt : A.: ual In:ornatici Ret irn uader oeth, stating its gross i:ico.ne .ind expens:.. incurrec duir g . 1 F :acecling, pericd rnd a cercficate showing that there has nDt been any char g. in its By-laws, .i:ia, of Ircorporation, mar ne: of operation and activities as v.ell as sources an.- disposition :f i.: T.-- Ccpy of this Certifisat: of Tax Exemption shal. be aitached to the afor:nentiored Anr a :. n.: niation Return.

1. Lnder Section 25 ot che Nation:! r.em! Revenue Code of 199 7, es anended, any.provisiof

existing general an.. special law .o th - :cr :ary r.ywitastanding, the books of accounts and'o:h:r pertinent: records c: tax-exerapt % f.1: z rion or grantees. of ta:: incentives shall be subject :s exemination by the E:iR fo: p.irp 3s: of a:eraining compliance wil he conditions under which It ha; been granted - ax exemp:ion : H1 t :s iterit ve:s, and its tax li bilities, if any.

3 : F uther, it :s alsc r c uired under ::*t. a t.tc. in relation to Sexction 23" of the Natioral Inte:nal

Hevenue Code c: .997, as amen: ! o :s.:e daly regis:ered receipts or sales or commercial irvo ces .for each s:le or transfer o : - rtrahand: se: or for services rentened which are not dire et:y re: lated to the activiies for whick. t.. Hsisoiatiou s registered. (Retente Memorandum Circ lar Mo,{RMC] No.75.2303}

F.naly, 1 is subjec: to the pry:neir 'ig s tratior: fee ofP500.c0 is presoribec. in Section 236 B

O the Nrional Ir e T a Rever ue F'ed: :f I :9?, as amendee. L