BIR Ruling No. 442-2017

REPUBIIGOF THE PHHHPPINES DEPARIMENI OF FINAN BUREAUOF INTERNAL REMENUH

Certificate of Tax Exemption No. 12-X 17

CERTIFCATE OF TAX EXEMPTION

issued to

3/F Eugenie Center. Assumption College. San Lorenzo Village. Makati City MARIE EUGENIE INSTITUTE. INC. SEC Reg. No. TN

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

1. Grants and Donations nothing follows

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

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

revalidation provided under Revenue Memorandum Order (RMO) No. 20-2013. Failure t This Certificate may be renewed upon filing of a subsequent application for

rencw this Certificate shall be deemed a revocation thereof upon the expiration of the three (3)-year period.

documents as represented and submitted. However, if upon investigation, the BiR ascertains This Certificate of Tax Fxemption is being issued on the basis of the facts and

that the facts are different. then this Certificate shall be considered null and void.

Issued this day of : -2

K-1-JRC CELIA C. KING Cu Commissioner of Internal Revenue CAESAR R. DULAY

Deputy Commissioner Resource Management Group

Officer-In-Charge

CTE No. 442-20:7 MARIE EUGENIE INSTITUTE ING. Page 2 of 3 Date G-5017

TERMS AND CONDITIONS OF THE CERTIFICATE OF TAX EXEMPTION

TAX EXEMPTION

1) INCOME TAX. MARIE EUGENIE INSTITUTE, INC. is only exempt from the payment

of income tax on revenues and receipts enumeratcd on the Certificate of Tax Exemption

Morcover. to be entitled to the tax exemptions enumerated hercin. the

association/corporation/ organization must continue to meet the requirements set forth

under Revenue Memorandum Order No. 20-2013.

LIABILITY FOR INTERNAL REVENUE TAXES

1) INCOME TAX

MARIE EUGENIE INSTITUTE, INC. is subject to income tax on 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 personai, or any

activity conducted for profit regardless of the disposition thereof. which income shouid be

returmed 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. 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 depository bank under the expanded foreign currency deposit system

shall be subiect to seven and one-half percent (7-1/2%) final withholding income lax

pursuant to Section 27(D)(1) in relation to Sec. 57(A) both of the NIRC.

2) VALUE ADDED TAX

If MARIE EUGENIE INSTITUTE, 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

MARIE EUGENIE INSTITUTE, 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. 1'itle 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 impiemented by Revenue Regulations No. 2-98. as amended.

MARIF EUGENIE INSTITUTE. INC Page 3 of 3 CTE NO. : Dac

TAXPAYER'S DUTIES.& RESPONSIBILITIES

1) MARIE EUGENIE INSTITUTE, INC. is required to file on or before the !5th day of the

fourth month following the end of the accounting period a Profit and Loss Statemcnt and Balance Sheet with the Annual Information Return under oath, stating its gross 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 wcll as sources and disposition of income. Copy of this Certificate of Tax Exemption shall bc 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 grantces 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 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.