BIR Ruling No. 314-2018

BUREAU OF INTERNAL REVENUE REPUBLIC OF THE PHILIPPINES DEPARTMENT OF FINANCE

Quezon City

Certifi ate of Tax Exemption No. 314-2018

CERTFICATE OF TAX EXEMPTION

issued to

DISCALCED CARMELITE NUNS OFCEBU

Carmelite Monastery Juan Luna Ave. Mabolo Cebu City 6000 CARMEL OF THE CHILD JESUS AND OF MARY MEDIATRIX OF ALL GRACES operating under the name of SEC Company Reg. No. TIN:

and has 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

1. Donations and Contributions

nothing follows

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

earlier revoked by this Office for vioiation 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 uniess

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

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

Issued this day of MAR t

00

K-I-JAC Commissioner of Internal Revenue CAESAR R. DULAY 014022

Discalced Carmelite Nuns of Cebu CTE No. 314-2018 Page 2 of 3 Date issued 3-5-2018

OF THE CERTIFICATE OF TAX EXEMPTION TERMS AND CONDITIONS

TAX EXEMPTION

1)INCOME TAX.DISCALCED.CARMELITE NUNS OF CEBU operating under_the name herein, the association/corporation/ organization must continue to meet the requirements set forth under Revenue Memorandum Order No. 20-2013. of CARMEL OF THE CHILD JESUS AND OF MARY MEDIATRIX OF ALL GRACES isJ Certificate of Tax Exemption. Moreover, to be entitled to the tax exemptions enumerated only exempt from the payment of income tax on revenues and receipts enumerated on the

LIABILITY FOR INTERNAL REVENUE_TAXES

1) INCOME TAX

tax on all its income/receipts/revenues not expressly exempted and stated in the Certificate imposed under the NIRC on its income derived from any of its properties, real or personal or any activity conducted for profit regardless of the disposition thereof. which income DISCALCED CARMELITE_NUNS OF CEBU operating under the name of CARMEL OF THE CHILD JESUS AND OF MARY MEDIATRIX OF ALL GRACES is subject to income of Tax Exemption: Moreover. it is subject to the corresponding internal revenue taxes

should be returned for taxation.

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

2) VALUE ADDED TAX/PERCENTAGE TAX

incidental thereto, its revenues derived therefrom shall be subject to the 12%VAT, in case sale of goods or services in the course of a business pursuit, including transactions the gross receipts from such sales exceed One Million Nine Hundred Nineteen Thousand exceed P1.919,500.00. If DISCALCED CARMELITE NUNS OF CEBU operating under the name of CARMEL OF THE CHILD JESUS AND OF MARY MEDIATRIX OF ALL GR4CES is engaged in the Five Hundred Pesos (P1,919.500.00). or to the 3% percentage tax. if gross receipts do not

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

it makes income payments to individuals or corporations subject to the withholding tax as withholding agent for the government if it acts as an employer and its employees receive pursuant to Section 57 of the NIRC. as implemented by Revenue Regulations No. 2-98. as THE CHILD JESUS AND OF MARY MEDIATRIX OF ALL GRACES shall be constituted compensation income subject to the withholding tax under Section 79 (A), Chapter XIII. DISCALCED CARMELITE NUNS OF CEBU operating under the name of CARMEL OF Title II of the NIRC, as implemented by Revenue Regulations No. 2-98, as amended. or if

amended.

Page 3 of 3 Discalced Carmetite Nuns.of Cebu! CTE No. 314-2018 Date issued 3-5-2018

TAXPAYER'S DUTHIS & RESPONSIEILITIES

1) DISCALCED CRMFLITE NUNS OF CFBUonerating under.the name of CARMEL OF oath. stating ins gross income and expenses iicurred Juring the preceding period and a income. Copy of this Certificare of Tax Exemption shall be attached to the aforementioned Fnnuai Informatior Reurr. on or before the 15th aay of the fourth month foilowing the end of the aceounting period a Profit and Loss Stateiment and Btan e Sheet with the Annual Information Return under Incorporation. manter of operation and activiies as well as sources and disposition of THE CHILD JESUS ANM OF MARY MEDIATRIX OF ALL GRACES is required to file certificate showing that there h.ts not been any change in its By-laws. Articles of

2) Under Sectiou 235 of th: Nationl luisrmal Revene Code of 1997. as amended. any incentives, and it wax liabiliies, if any. provision of existihng general and special iaw is the eontrary notwithstanding. the books of accounts and other pertinent records of tax-exenpt oraanization or grantees of tax incentives shall be subiect to examinaiiou by the BIR for purposes of ascertaining compliance with the condttions under which it has been granted tax exemptions or tax

3) Further. it is also required under Section 6(C) in relation io Section 237 of the National Memorandum Circular No. [RMC] No. 76-2003). commercial invoices for each saie or transfer ot'merchandise or for services rendered which are not directly related to the activities for which the Association is registered. (Revenue Internal Revenue Couc of 1997. as ariended. to issue duly registered receipts or sales or

4) Finaliy, it is subject ic the paymeni of registration fee of PhP 500.00 as prescribed in Section 236(B) of the National Intenal Reverue Code of 1997. as amended.

.