BIR Ruling No. 389-2017

BUREAU OF INTERNAL REVENUE REPUBLIC OF THE PHILIPPINES DEPARTMENT OF FINANCE

RTDD Quezon City

Certificate of Tax Exemption No. 389-2017

CERTIFICATE OF TAX EXEMPTION

issued to

VISION HELP INTERNATIONAL CARE FOUNDATION, INC. 222A Upper Liwanag, Loakan Airport, Baguio City 2600 SEC Company Reg. No TIN:

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

1. 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 hereto attached and made an integral part hereof. It is liable, however, to all other taxes not enumerated above.

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 untess earlier

provided under Revenue Memorandum Order (RMO) No. 20-2013. Failure to renew this Certificate shall be deemed a revocation thereof upon the expiration of the three (3)-year period. 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_UG-0

Commissioner of Internal Revenue CAESAR R.DULAY

K-1VDPM14 Vision Hetp Interuational Care Foundation, Inc

CELIA C.KING

Resource Management Group Deputy Commissioner

Officer-In-Charge

VISION HELPINTERNATIONAL CARE FOUNDATION,INC Page 2 of 3 CTE No Date issued 8--30--2017 389-2017

OF THE CERTIFICATE OF TAX EXEMPTION TERMS AND CONDITIONS

TAX EXEMPTION

I) INCOME TAX.VISION HELP INTERNATIONAL CARE FOUNDATION,INC.iS Ony exempt from the payment of income tax on revenues and receipts enumerated on the Certificate of association/corporation/ organization must continue to meet the requirements set forth under Revenue Memorandum Order No. 20-2013. Tax Exemption. Moreover, to be entitled to the tax exemptions enumerated herein, the

LIABILITY FOR INTERNAL REVENUE TAXES

INCOME TAX

for profit regardless of the disposition thereof, which income should be returned for taxation. 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 under the NIRC on its income derived from any of its properties, real or personal, or any activity conducted VISION HELP INTERNATIONAL CARE FOUNDATION,INC.is subject to income taX on

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

2) VALUE ADDED TAX

If VISION HELP INTERNATIONAL CARE FOUNDATION,INC.is engaged in the sale of goods or services in the course of a business pursuit, including transactions incidental thereto, in general, it shall be liable for VAT 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% VAT pursuant to Sections 106 and 107 of the NIRC.

3) WITHHOLDING TAX

withholding agent for the government if it acts as an employer and its employees receive the NIRC, as implemented by Revenue Regulations No. 2-98, as amended, or if it makes income VISION HELP INTERNATIONAL CARE FOUNDATION,INC. shal| be constituted as compensation income subject to the withholding tax under Section 79 (A), Chapter XIII, Title II of

NIRC, as implemented by Revenue Regulations No. 2-98, as amended. payments to individuals or corporations subject to the withholding tax pursuant to Section 57 of the

TAXPAYER'S DUTIES & RESPONSIBILITIES

l) VISION HELP INTERNATIONAL CARE FOUNDATION,INC.is required to file on or before the 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

CARE FOUNDATION, INC Page 3 of 3 VISION HELP INTERNATIONAI CTE No. Date issued 8-30m2017 3892017

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, 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 Return

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 and its tax liabilities, if any. 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,

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. (Revenue Memorandum Circular No. [RMC] No. 76-2003).

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