BIR Ruling No. 447-2017

REPURLIGOI (HLPHHUIPPINFS

BUREAU OF INTERNAL REVENUE DEPAKTMINT O FINANGE Queron City

Certificate of Tax Exemption No. 447-017

CERTIFICATE OF TAX EXEMPTION

issued to

SUORE MISSIONARIE DELL' INCARNAZIONE.INC. Col. Felino Paran St. Extension. Purok 2, Brgv. Tambo. 42 1 7 Iipa City, Batangas SEC Company Reg. No. I'IN

revenues or receipts: Revenue Code of 1997, as amended. It is exempt from INCOME TAX only on the following primary purposc is one of those enumerated under Section 30 (E) of the National Internal I'his certifies that the above-named corporation has proven by actual operation that its

1. Funds from Donations.

tothing follow

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

earlier revoked by this Office for violation of any provisions of applicable rules and regulations of BtR, or the terms and conditions herein set forth. This certification shall be valid for three (3) years from the date of issuance unless

Certificate 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 period. 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 cf Tax I:xcmption is being issued on the basis of the facts and

Issucd this day of

Commissioner of Internal Revenue CAESAR R. DULAY

T-K-I-LMAT Cub

CELia C. KiNe Deputy Cormnissioner Resource Management Group

Afficer-In-Charge

SUORE MISSIONARIE DELL INCARNAZIONE, INC. Date issued _9--6-20 17 CTE No. 1H7-017

OF THE CERTIFICATE OF TAX EXEMPTION TERMS AND CONDITIONS

TAX EXEMPTIONS

1) INCOME TAX.

SUORE MISSIONARIE DELL' INCARNAZIONE, INC. is cxempt from the payment of income tax only on revenues and receipts enumerated on the Certificate of Tax Exemption provided. that no part of its net income or asset shall belong to. or inurc to the benetit of any member, organizer. officer or any specific person.

LIABHLITY FOR INTERNAL REVENUE TAXES

1) INCOME TAX

SUORE MISSIONARIE DELL' INCARNAZIONE,INC. is subjcct to income tax on under the National Internal Revenue Code of 1997. as amended, on its income derived from any of its properties. real or personal, or any activity conducted for profit regardless of the all its incomc/rcceipts/revenues not expressly exempted and stated in the Certificate of Tax Exemption. Moreover, it is subject to the corresponding internal revenue taxes imposed disposition thereof, which incomc shoutd be returmed for taxation.

depository bank under the expanded toreign currency deposit system shall be subject to Likewise. interest incomc from currency bank deposits and yield or any other monetary benefits from deposit substitute instruments and fron trust funds and similar arrangements. (20%) final withholding tax: Provided. however, that interest income derived by it from a seven and one-halt percent (7-1/2%) linal withholding income tax pursuant to Section 27(D)(1) in relation to Sec. 57(A) both of the National Internal Revenue Code of 1997. as amended. and royaities derived from sourccs within the Philippines are subject to the twenty percent

2) VALUE ADDED TAX

thereto, in general. it shall be liable for value added tax on the revenues derived thercfrom. goods or services in the course of a business pursuit. including transactions incidental if SUORE MISSIONARIE DELL INCARNAZIONE, INC. is engaged in the sale o!

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% of 1997. as amended. valuc added tax pursuant to Sections 106 and 107 of the National Internal Revenue Code

3) WITHHOLDING TAX

2-98. as amended. SUORE MISSIONARIE DELL INCARNAZIONE, INC. shalt be constituted as withholding agent for the government if it acts as an employer and its employees reccive compensation income subject to the withholding tax under Section 79 (A), Chapter XI. Revenue Regulations No. 2-98. as amended. or if it makcs income payments to individuals 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. Title I1 of thc Nationat Internal Revenue Code of 1997. as amended, as impiemented by

TAXPAYER'S DUTIES & RESPONSIBILITIES

l) SUORE MISSIONARIE DELL' INCARNAZIONE, INC. is required to fi|e on or before the 1 Sth day of the fourth month following the end of the accounting period a Profit and Loss Statement and Balance Shect with the Annual Information Return under oath.

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SUORE MISSIONARIE DELL HNCARNAZIONE. INC Date issued _9ei mn 7 CTE NO. 4-1

stating its gross income and expenses incurred during the preceding period and a certificate this Certificate of Tax Excmption shall be attached to the aforementioned Annual 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

Information Return.

2) Under Section 235 of the National Internal Revenue Code of !997, as amended, 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 grantecs of tax incentives shall be subject to examination by the BIR for purposcs of ascertaining compliance with the conditions under which it has been grantcd tax exemptions or tax incentives. and ils tax liabilities. if any.

3) Further. it is also required under Section 6(C) in relation to Section 237 of the National Memorandum Circular No. {RMC] No. 76-2003). Internal Revenue Code of 1997, as amended, 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

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.

TK-I-.MAT

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