BIR Ruling No. 269-2018

BUREAU OF INTERNAL REVENUE REPUBLIC OF THE PHILIPPINES DEPARTMENT OF FINANCE

Quezon City

Certificate of Tax Exemption No. 269-2018

CERTIFICATE OF TAX EXEMPTION

issued to

HINDUTEMPLE.INC 1426 Mahatma Gandhi Street, Barangay 673, Zone 73, District V TIN: Paco, Manila

SEC Company Reg. No.

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

on the following revenues or receipts:

2. Donations; and 1.Gifts; 3.Contributions. 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.

This certification shall be valid for three (3) years from the date of issuance unless 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 Certificate may be renewed upon filing of a subsequent application for revalidation 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 of Tax Exemption is being issued on the basis of the facts and 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

Issued this day of_FEB 2 7 2018

10301

CAESAR R.DULAY Commissioner of Internal Revenue

013686 K-1-ASB

Hindu Temple, Inc. CTE No.1269-2018 Page 2 of 3 Date issued 2-27-2018

OF THE CERTIFICATE OF TAX EXEMPTION TERMS AND CONDITIONS

TAX EXEMPTION

1) INCOME TAX. HINDU TEMPLE, INC. is only exempt from the payment of income to be entitled to the tax exemptions enumerated herein, the association/corporation tax on revenues and receipts enumerated on the Certificate of Tax Exemption. Moreover organization must continue to meet the requirements set forth under Revenue Memorandum Order No. 20-2013.

LIABILITY FOR INTERNAL REVENUE TAXES

1) INCOME TAX

expressly.exempted and stated in the Certificate of Tax Exemption. Moreover, it is subject HINDU TEMPLE, INC. is subject to income tax on all its income/receipts/revenues not

from any of its properties, real or personal, or any activity conducted for profit regardless to the corresponding internal revenue taxes imposed under the NIRC on its income derived 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 from deposit substitute instruments and from trust funds and similar arrangements. 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 and royalties 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 27(D)(1) in relation to Sec. 57(A) both of the NIRC.

2) VALUE ADDED TAX/PERCENTAGE TAX

If HINDU TEMPLE, INC. is engaged in the sale of goods or services in the course of a business pursuit, including transactions incidental thereto, its revenues derived therefrom shall be subject to the 12% VAT, in case the gross receipts from such sales exceeds One Million Nine Hundred Nineteen Thousand Five Hundred'Pesos (P1,919,500.00), or to the 3% percentage tax, if gross receipts do not exceed P1,919,500.00.

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

HINDU TEMPLE, INC. shall 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, Title II of the NIRC, as implemented by Revenue Regulations 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. 2-98, as amended.

Page 3 of 3 Hinidu Temple, Inc. CTENo26918 Date issued 2m272018

TAXPAYER'S DUTIES & RESPONSIBILITIES

( HINDU TEMPLE, 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 income and expenses

change in its By-laws, Articles of Incorporation, manner of operation and activities as weil incurred during the preceding period and a certificate showing that there has not been any

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 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

which the Association is registered. (Revenue Memorandum Circular No. [RMC] No. 76- merchandise or for services rendered which are not directly related to the activities for

2003).

4 Finally, it is subject to the payment of registration fee of PhP 500.00 as prescribed in Section 236(B) of the National Internal Revenue Code of 1997, as amended.