BIR Ruling No. 416-2017

BUREAU OF INTERNAL REVENUE REPUBLIC OF THE PHILIPPINES DEPARTMENT OF FINANCE

Quezon City

Certificate of Tax Exemption No.

17

CERTIFICATE OF TAX EXEMPTION issued to

Ateneo De Manila University. Katipunan Ave., Loyola Heights, Diliman, Quczon City 1108 EL OBSERVATORIO DE MANILA INC. Operating under the name and style of SF Company Reg. No. MANHLA OBSERVATORY TIN:

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

1. Grants and Donations.

nothing follows

subject to thc 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.

earlier revoked by this Office for viotation 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) ycars 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

documents as represented and submited. However. if upon investigation. the BIR ascertains that the facts arc different. then this Certificate shall be considered null and void. This Certificate ot Tax Exemption is beirg issued on the basis of the facts and

Issued this day of SE: :.1:y

Commissioner of Internal Revenue CAESAR R. DULAY

K-I-JAC Cuiac

CELIAC.KIN

the name and style of Manila Observatory El Observatorio De Manila, Inc. Operating under Page 2 of 3 Date issued - CTF. No.

OF THE CERTIFICATE OF TAX EXEMPTION TERMS AND CONDITIONS

TAX EXEMPTION 1)INCOME TAX. EL OBSERVATORIO DE MANILA,INC.operating undcr the name and 20-2013. revenues and receipts enumerated on the Ccrtificate of Tax E:xemption. Moreover. lo be entitled to the tax exemptions enumerated herein, the association/corporation/ organization must continue to meet the requirements set forth under Revenue Memorandum Order No. stvle of MANILA OBSERVATORY is only excmpt from thc payment of income tax on

LIABILITY FOR INTERNAL REVENUE TAXES 1) INCOME TAX

EL OBSERVATORIO DE MANILA, INC. operating under the name and style of MANILA exempted and stated in thc Certificate of Tax Exemption. Moreover, it is subject to the corresponding internal revenue taxes imposed under the NIRC on its incomc derived from any of its properties, rcal or personal. or any activity conducted for profit regardless of the disposition thereof, which income should be returned for taxation. OBSERVATORY is subject to income tax on ali its income/receipts/revenues not cxpressly

Likewise. interest incomc from currency bank deposits and yield or any other monetary (20%) final withholding tax: Provided. however. that interest income derived by it from a seven and one-half percent (7-1/2%) final withholding income tax pursuant to Section benefits from deposit substitute instruments and from trust funds and similar arrangements. and royalties derived from sources within the Philippines arc subject to the twenty percent 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

MANILA OBSERVATORY) is engaged in thc sale of goods or services in the course of a business pursuit, including transactions incidental thereto. in general. it shall be liable for VAl' on the revenues derived therefrom. If EL OBSERVATORIO DE MANILA,INC. operating_under the name and style of

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% VA'T pursuant to Sections 106 and 107 of the NIRC. 3) WITHHOLDING TAX

an employer and its employecs 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 incomc payments to individuals or corporations subject to the withholding tax pursuant to Section 57 of' the NIRC, as impiemented by Revenue Regulations No. 2-98, as amended. EL OBSERVATORIO DE MANILA, INC. operating under the name and stvlc of MANILA OBSERVATORY) shall be constituted as withholding agent for the government if it acts as

the name ant style of Manila Ohseryatory Page 3 of 3 Et Observatorio De Manila, Ine. Operating under CTE NO. Date issued } 416-2017..

TAXPAYER'S DUTIES & RESPONSIBILITIFS

1} EL OBSERVATORIO DE MANiLA, INC. operating undcr the name and style of MANILA

OBSERVATORY is required to file on or before the 15th day of the fourth month following Annual Informa:ion Return uder oath. stating its gross income and expenses incurred its By-laws. Articles of Incorporation. manner of operation and activitics as well as sources and disposition ot income. Copy of this Certificate of Tax Exemption shall be attached to the aforementioned Annual Information Return. the end ot the accounting period a Profit and Loss Statement and Balance Sheet with the during the preceding petiod ani a certificate showing that there has not been any change in

2) Under Seetion 235 of te NIR5. any provision of existing general and special law to the purposes of ascertainin? corantiance with the conditions under which it has been granted contrary notwithstanding. the books of accounts and other pertinent records of tax-exempt organizaticn or gr irtee: of tax ircentives shall be subiect to examination by the BIR for tax exemptions or tax incentives. and its tax liabilities. if any.

3) Further. it is also requi"ed under Section 6(C) in relation to Section 237 of the NIR( to 2003 issue dulv registered rexeipts er sales or commercial invoices for each sale or transfer of merchandise or for services rerdered 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 subjeet lo the payment of registration tec of PhP 500.00 as preseribed in Section 236(B) of tFe NlRC