BIR Ruling No. 459-2017

REPUBLIC OF THE PHILIPPINES

BUREAU OF INTERNAL REVENUE DEPARTMENT OF FINANCE

Quezon City

Certificate of Tax Exemption No.

:

CERTIFICATE OF TAX EXEMPTION

issued to

Villa Grande Elementary School, Villa Grande Homes, Concepcion Grande. Naga City 4400 YOU CAN DO IT FOUNDATION, INC SFC Company Reg. No. TIN:

This certifies that the above-named corporation is a non-stock, non-profit corporation

on the following revenues or receipts: and has proven by actual operation that its primary purposc falls under Section 3o (G) of the National Internal Revenue Code of 1997. as amended. It is cxempt from INCOME TAX only

I. Donations. -nothing follows

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

of BIR, or the terms and conditions herein set forth. earlier revoked by this Oftice 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

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

docunients 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 bcing issued on the basis of the facts and

Issued this day of -" Es 1

18M&

K-1-JAC Commissioner of internal Revenue CAESAR R. DULAY W 0 09313

CELIA C: KING Deputy Commissioner Resource Management Group

Page 2 of 3 You Can Do It Foundation, Inc. CTE NO Date issucd

OF THE CERTIFICATE OF TAX EXEMPTION TERMS AND CONDITIONS

TAX EXEMPTION

1) INCOME TAX.YOU CAN DO IT FOUNDATION INC.is only exempt from the payment

of income tax on revenues and receipts enumerated on thc Certificate of Tax Excmption. Moreover. to be entitled to the tax exeniptions association/corporation/ organization must continue to meet the requirements set forth under Revenue Memorandum Order No. 20-2013. enumerated herein. the

LIABILITY FOR INTERNAL REVENUE TAXES

1) INCOME TAX

YOU CAN_DO IT FOUNDATION, INC. is subject to income tax on all its

activity conducted for profit regardless of the disposition thereof. which income should he returned for taxation. income/receipts/revenues not expressly exempted and stated in thc Certificatc of Tax Exemption. Moreover. it is subject to the corresponding internal revenue taxes imposed under the NIRC on its income derived from any of its properties, real or personal. or any

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

2) VALUE ADDED TAX

coursc of a business pursuit, including transactions incidental thereto. in general. it shall be If YOU CANDO IT FOUNDATION,INC. is engaged in the sale of goods or services in the

liable for VAf on the revenues derived therefrom.

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

3) WITHHOLDING TAX

government it it acts as an employer and its empioyees receive compensation incomc YOU CAN DO IT FOUNDATION, INC. shall be constituted as withholding agent for the subject to the withholding tax under Section 79 (A). Chapter XHII. T'itie iI of the N!RC. as implemenied by Revenue Rcgulations No. 2-98. as amended. or if it makes income 57 of the NiRC. as implemented by Revenue Regulations No. 2-98. as amended. payments to individuals or corporations subject to the withholding tax pursuant to Section

Page 3 of 3 You Can Do It Foundation, Inc. Date issued CIE No.

TAXPAYER'S DUTIES & RESPONSIBILITIES

I YQU CAN DO IT FOUNDATION, INC. is required to file on or before the 15th day of the fourth month foliowing the end of the accounting period a Profit and Loss Statement and Balance Sheet with the Annual Information Return under oath. stating its gross incomc and

been any change in its By-iaws. Articies of Incorporation, manncr of operation and expenses incurred during the preceding period and a certificate showing that there has not activities as well as sources and disposition of income. Copy of this Certificate of Tax Exemption shalt he attached to the aforementioned Annual Information Return.

2) Under Section 235 of the NIRC. any provision of existing general and special (aw 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 fon purposes of ascertaining compliance with the conditions under which it has becn 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 2003) 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. (Revenue Memorandum Circular No. [RMC] No. 76-

4) Finally. it is subject to the payment of registration fee of PhP 500.00 as prescribed in Scction 236(B} of the NIRC.