BIR Ruling No. 449-2017

REPUBLIC OF THE PHILIPPINES DEPARTMENT OF FINANCE BUREAU OF INTERNAL REVENUE

Quezon City

Certificate of Tax Exemption No. 449-2017

CERTIFICATE OF TAX EXEMPTION issued to

TAHANAN NG PAG-IBIG NI BARBARA MICARELLI FOUNDATION (CENTER FOR STREET CHILDREN), INC 26 Kanlaon Street, SMH Sta. Teresita, Quezon City ! t 14 SEC Company Reg. No. TIN:

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 and has

1. Donations, contributions, grants, legacies, and subsidies. nothing follow.

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

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 shali be valid for three (3) years from the date of issuance unless earlier

shall be deemed a revocation thereof upon the expiration of the three (3')-year period. provided under Revenue Memorandum Order (RMO) No. 20-2013. Failure to renew this Certificate This Certificate may be renewed upon filing of a subsequent application for revalidation

different, then this Certificate shall be considered null and void. represented and submitted. However, if upon investigation, the BIR ascertains that the facts are This Certificate of Tax Exemption is being issued on the basis of the facts and documents as

Issued this ... day of . 2

Commissioner of Internal Revenue CAESAR R. DULAY

Tahanan ng Pag-ibig ni Barhara Micarelli Foundation (Center for Street Children), Inc. K-1VDPM14

CELIA C. KING O M

Page 2 of 3 MICARELLI FOUNDATION (CENTER FOR STREETCHILDREN), INC. TAHANAN NG PAG-IBIG NI BARBARA Date issued_--C17 CIE No. 44-017

OF THE CERTIFICATE OF TAX EXEMPTION TERMS AND CONDITIONS

TAX EXEMPTION

X INCOME TAX. TAHANAN NG PAG-IBIG NI BARBARA MICARELLI FOUNDATION. (CENTER FOR STREET CHILDREN),INC. is only exempt from the payment of incomc tax

to the tax exemptions enumerated herein, the association/corporation/ organization must continue to meet the requirements set forth under Revenue Memorandum Order No. 20-2013. on revcnues and receipts enumerated on the Certificate of Tax Exemption. Moreover, to be entitled

LIABILITY FOR INTERNAL REVENUE TAXES

1) INCOME TAX

STREET CHILDREN), INC. is subject to income tax on all its income/receipts/revenues not TAHANAN NG PAG-IBIG NI BARBARA MICARELLI FOUNDATION (CENTER FOR expressly exempted and stated in the Certificate of Tax Exemption. Moreover. it is subject to the corresponding internal revenue taxes imposed under the NIRc on its income derivcd from any of its properties. real or personal. or any activity conducted for profit regardiess of the disposition thereof. which income should be returned for taxation.

Likewise, interest income from currency bank deposits and yield or any other monetary benefits derived from sources within the Philippines are subject to the twenty percent (20%) final withholding tax: Provided, however, that interest income derived by it from a depository bank under from deposit substitute instruments and from trust funds and similar arrangements. and royalties the expanded foreign currency deposit. system shall be subject to seven and one-haif percent (7- 1/2%) final withholding income tax pursuant to Section 27(DX 1) in relation to Sec. 57(A) both of the NIRC.

2) VALUE ADDED TAX

pursuit, including transactions incidental thereto, in general, it shall be liable for VAT on the STREET CHILDREN), INC. is engaged in the sale of goods or services in the course of a business If TAHANAN NG PAG-IBIG NI BARBARA MICARELLI FOUNDATION (CENTER FOR) revenues derived therefrom.

Sections 106 and 107 of the NIRC. 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

3) WITHHOLDING TAX

2-98. as amended STREET CHILDREN), INC. shall be constituted as withholding agent for the government if it No. 2-98. as amended, or if it makes income payments to individuals or corporations subject to the withholding tax pursuant to Section 57 of the NIRC. as implemented by Revenue Regulations No. acts as an employer and its employees receive compensation income subject to the withholding tax under Section 79 (A), Chapter XIII, Title II of the NIRC, as implemented by Revenue Regulations TAHANAN NG PAG-IBIG NI BARBARA MICARELLI FOUNDATION (CENTER FOR)

MICARELLI FOUNDATION (CENTER FOR STREETCHILDREN), INC. Page 3 of 3 TAHANAN NG PAG-IBIG NI BARBARA CTE No. Date issued_9m6-2017 49-2017

TAXPAYER'S DUTIES & RESPONSIBILITIES

STREET CHILDREN), INC. is required to file on or before the 15th day of the fourth month TAHANAN NG PAG-IBIG NI BARBARA MICARELLI FOUNDATION (CENTER FOR following the end of the accounting period a Profit and Loss Statement and Balance Sheet with the

preceding period and a certificate showing that there has not been any change in its By-laws. Annual Information Return under oath. stating its gross income and expenses incurred during the Articles of Incorporation, manner of operation and activities as well as sources and disposition of income. Copy of this Certificate of Tax Exemption shall be attached to the aforementioned Annual Information Returm.

2 Under Section 235 of the NIRC, any provision of existing general and special 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 NIRC to 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 which the Association is registered. (Revenuc Memorandum Circular No. [RMC] No. 76-2003).

4 236(B) of the NIRC. F'inaliy. it is subject to the payment of registration fee of PhP 500.00 as prescribed in Section