BIR Ruling No. 450-2017

REPUBLIC OF THE PHILIPPINES

DEPARTMEnTOF FInANCe BUREAU OF INTERNAL REVENUE

Quezon City

2004

Certificate of Tax Exemption No.

CERTIFICATE OF TAX EXEMPTION

issued to

ROBERT AND MARION LIM PEACE FOUNDATION INC 173-175 Cebu Liberty Lumber Bldg. M.J. Cuenco Avenue. Ccbu City SEC Reg. No. TIN

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

1 2 Grants and offerings. Individual and corporate donations:

nothing follow

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

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

period. provided under Revenue Memorandun 'Order (RMO) No. 20-2013. Faiiure to renew this Certificate shall be deemed a revocation thereof upon thc cxpiration of the three (3)-year 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 basis of the facts and

Issued this. day of

Resource Management Group Deputy Commissioner Officer-tn-Charge CelIA C. KINg{ cu: c Conmissioner of Internal Revenue CAESAR R. DULAY

ROBERT AND MARION LIM PEACE FOUNDATION INC Page 2 of 3 Date issued_2-8-201 CTE No.450-0?

TERMS AND CONDITIONS OF THE CERTIFICATE OF TAX EXEMPTION

TAX EXEMPTIONS

D INCOME TAX

ROBERT AND MARION LIM PEACE FOUNDATION iNC. is exempt from the payment of income tax only on revenues and receipts enumerated on the Certificate of Tax

benefit of any member, organizer, officer or any specific person. Exemption provided. that no part of its net income or asset shall belong to, or inure to the

LIABILITY FOR INTERNAL REVENUE TAXES

I) INCOME TAX

under the National Internal Revenue Code of 1997, as amended, on its income derived from on all its income/receipts/revenues not expressly exempted and stated in the Certificate of Tax Exemption. Moreover. it is subject to the corresponding internal revenue taxes imposed any of its properties, real or personal. or any activity conducted for profit regardless of the disposition thereof, which income should be returned for taxation. ROBERT AND MARION LIM PEACE FOUNDATION INC. is subject to income tax

Likewise. interest income from currency bank deposits and yield or any other monetary

and royalties derived from sources within the Philippines are subject to the twenty perccn benefits from deposit substitute instruments and from trust funds and similar arrangements.

27(D)(1) in relation to Sec. 57(A) both of the National Internal Revenue Code of 1997. as depository bank under the expanded foreign currency deposit system shall be subject to scven and one-half percent (7-1/2%) final withholding incomc tax pursuant to Section (20%) final withholding tax: Provided. however. that interest income derived by it from a

amended.

2) VALUE-ADDED TAX

If ROBERT AND MARION LIM PEACE FOUNDATION INC. is engaged in thc sale of goods or scrviccs in the course of a business pursuit, including transactions incidental thereto, in general. it shall be liable for value-added tax on the revenues derived therefrom.

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 Revenuc Code of 1997. as amended.

ROBERT AND MARION LIM PEACE FOUNDATION INC CTE NO h*

Page 3 of 3 Date issued

3) WITHHOLDING TAX

ROBERT AND MARION LIM PEACE FOUNDATION INC. shal! 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 XIII] Titie Il of the National Internal Revenue Code of 1997, as amended. as implemented by

or corporations subject to the withholding tax pursuant to Section 57 of the National Internal Revenue Code of 1997. as amended, as implemented by Revenue Regulations No Revenue Regulations No. 2-98. as amended. or if it makes income payments to individuals

2-98, as amended.

TAXPAYER'S DUTIES & RESPONSIBILITIES

1) ROBERT AND MARION LIM PEACE FOUNDATION INC. is rcquircd to file on or before the 15th day of the fourth month following the end of the accounting period a Profit

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

2) Under Section 235 of the National Internal Revenue Code of 1997, as amended, any

incentives, and its tax liabilities. if any. 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 provision of existing general and special law to the contrary notwithstanding, the books of 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 are not directly related to thc activities for which the corporation is registered. (Revenue Memorandum Circular No. [RMC] No. 76-2003). commercial invoices for cach sale or transfer of merchandisc or for scrvices rendered which Internal Revenue Code of 1997. as amended. to issue duly registered receipts or sales or

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.