BIR Ruling No. 513-2017

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DIAKLNIOAN BBFACOFINIERNAIRFVFAUY

Quezon City

Certificate of Tax Exemption No.

CERTIFICATE OF TAX EXEMPTION

issued to

NOTRE DAME SIENA.COLLEGE OF TACURONG INC.

Lapu-Lapu St., Poblacion. Tacurong City 9800

SEC Company Reg. No. TIN:

and has proven hy actual operation that its primary purpose is one of those enumerated under This certifies that the above-named corporation is a non-stock, non-profit corporation

Section 30(H) of the National Internal Revenue Code of 1997. as amended. It is exempt from INCOME TAX only on the following revenues or receipts:

2. School auxiliary services (operation of canteen and salc of textbooks. uniform. 1.Tuition Fees and other school fees including miscellaneous fees; and

patches and similar supplies) located within its premises, owned and operated by NOTRE DAME SIENA COLLEGE OF TACURONG, INC.

-nothing foliows

subject to the provisions of applicable BIR rules and regulations and the tax exemptions. 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.

for violation of any provisions of applicable rules and regulations of the BIR. or the terms and conditions herein set forth. It shall likewise be revoked if there are material changes in the This certification shall be valid from the date of issuance until revoked by this Office

character, purpose or method of operation of the corporation which are inconsistent with the basis for its income tax exemption.

documents as represcnted and submitted. However. if upon investigation. the BIR ascertains that thc 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 NOV 0 7 201?

1eamw

K-I Commissioner of Internal Revenue CAESAR R. DULAY 010965

Notre Dame Siena College of Tacurong. Inc. Page 2 uf 3 Date issued--7-. C (IE No.

TERMS AND CONIITIONS OF THF CERTIFICATE OF TAX EXEMPTION For Non-Stock. Non-Profit Educational Institution under Section 30(H) of the National internal Revenue Code of 1997, as Amended

TAX EXEMPTION

1) INCOME TAX. NOTRE DAME SIENACOLLEGE OF TACURONG,INC.is exempt frOm

the payment of income tax only on revenues and receipts enumerated on the Certificatc of Tax Exemption. It is understood that the school :nust continue to meet the following requisites as set forth under Revenue Memorandum Order (RMO) No 44-2016. to wit:

Hi. Its revenues arc actually. directly and exclusively used for educational purposes. It is a non-stock, non-profit educational institution: and

NOTRE DAME SIENA COLLEGE OF TACURONG INC.'s interest income from currency bank deposits and yield from deposit substitute instruments used actually, directly and exclusively in pursuance of its purpose as an educational institution, are exempt from the 20% final tax and 7

Section 27 (D) (1) of the National Internal Revenue Code of 1997. as amended. subject to 1/2% tax on interest income under the expanded foreign currency deposit systen inposed under

compliance with the conditions that as a tax-excmpt educational institution it shall on an annual basis subinit to the Revenue District Office concerned an annual information return and duly atdited financial statement together with the following:

(a)Certification from their depository banks as to the amount of interest incomc earned from passive investment not subject to the 20% final withholding tax and 7 1/2% tax on interest income under the cxpanded foreigu currency deposit System imposed hy Section 27 (D) (1) of the National Internal Revenue Code of 1997. as amended:

(b)Certification of actual utilization of the said income: and

construction and/or improvement of school buildings and facilities, acquisition of equipment. books and the like) to be funded out of the money deposited in (c)Board Resolution by the school administration on proposcd projects (i.c..

banks or ptaced in money markets, on or before the I Sth day of the fourth month follow ing the end of its taxabte year (Sec. 4. Finance Department Order No. 137-87}

2) VALUE ADDED TAX (VAT) ON EDUCATIONAL SERVICES. Pursuant to Section receipts from operations as a non-stock, non-profit educational institution is exempt from V A'T 109(1)(H) of the NIRC. NOTRE DAME SIENA COLLEGE OF TACURONG, INC.'s grOSS

LIABILITY FOR INTERNAL REVENUE TAXES

1) INCOME TAX its income/ receipts/ revenues not expressly exempted and stated in the Certificate of Tax NIRC. as amended, on its incone derived froin any of its properties. real or personal. or any activity NOTRE DAME SIENA COLLEGE OF TACURONG,INC. is suhject to income tax oni al Exemption. Moreover. it is subject to the corresponding internal revenue taxes imposed under

Department Order No. 149-95 dated November 24. 1995 amending Department Order No. 137-87

Notre Dame Siena College of Tacuroag, Inc. Page 3 of 3 Date issucd_11-7-2017 CTE No. 513-2017

conducted for profit. which incone should be retumed for taxation. unless said revenues are actually. directly and exclusively uscd for educational purposes.

2) VALUE ADDED TAX

lf NOTRE DAME SIENA COLLEGE OF TACURONG,INC. is engaged in the sale of goods

it shall be liable for VAT on the revenues derived therefrom. or services in the course of a business pursuit. including transactions incidental thereto. in general.

Notwithstanding that it is a non-stock, non-profit corporation, its purchase of goods or properties Sections 106 and 107 of the NIRC or services and importation of goods shall nevertheless be subject to the 12% VA'l pursuant to

3. WITHHOLDING TAX

NOTRE DAME SIENA COLLEGE OF TACURONG INC._shall be constituted as withho|ding agent for the government if it acts as an employer and its employees receive compensation income

implemented by Revenuc Regulations No. 2-98. as amended. or if it makes income payments to as impiemented by Revenue Regulations No. 2-98. as amended. subject to the withholding lax under Section 79 (A). Chapter XlI. Title II of the NIRC as individuals or corporations subject to the withholding tax pursuant to Section 57 of the NIRC, and

TAXPAYER DUTIES & RESPONSIBILITIES

1) NOTRE DAME SIENA COLLEGE OF TACURONG,INC. is required to file on or before the expenses incurred daring the preceding period and a certificate showing that there has not becn any change in its By-laws. Articles of Incorporation, manner of operation and activities as well as 15th day of the 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

sources and disposition of income. Copy of this Certificate of Tax Exemption shall be attached to the aforementioned Annual Information Rcturn.

2) Under Section 235 of the National internai Revenue Code of 1997. as amended. any provision of existing general and speciat law to the contrary notwithstanding. the books of 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 incentives. and its tax liabilities. if any.

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 receipts or sales or conmercial invoices for each sale or transfer ot' merchandise or for services rendered which are not directly related to the activitics for which the Association is registered. (Revenue Memorandum Circular No. {RMC] No. 76-2003}.

+)Finally, it is subiect to the payment of registration fec of PhP 500.00 as prescribed in Section 236(B) of the National Internal Revenue Code of 1997. as amended