BIR Ruling No. 392-2018

REPUBLIC OF THE PHILIPPINES

DEPARTMENT %F FINANCE BUREAU OF INTERNAL REVENUE

Quezon City

Certificate of Tax Exemption No.

392-3013

CERTIFICATE OF TAX EXEMPTION

issued to

SOCIETY OF THE DIVINE SAVIOR PHILIPPINES INC No. 1 1I N. Reyes St., Xavierville Subd., Brgy. Loyola Heights, Quezon City

TIN: SEC Company Reg. No.

This certifies that the above-named corporation is a non-stock, non-profit corporation 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:

1. Grants and Donations. lothing follows:

subject to the provisions of applicable BIR rules and regulations and the tax exemptions, Hiabilities 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 reguiations 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 MAR 08 ZU:J

1eu3,aMy CAESAR R. DULAY Commissioner of Internal Revenue 014 236 K-I-JAC

Page 2 of 3 Society of the Divine Savior Philippines, Inc. Date issued E-e-oi8 CTE No.2-2018

OF THE CERTIFICATE OF TAX EXEMPTION TERMS AND CONDITIONS

TAX EXEMPTION

1) INCOME TAX.

association/corporation/ organization must continue to meet the requirements set forth under Revenue Memorandum Order No. 20-2013. SOCIETY OF THE DIVINE SAVIOR PHILIPPINES INC. is only eXempt from the payment of income tax on revenues and"receipts enumerated on the Certificate of Tax Exemption. Moreover, to be entitled to the 'tax exemptions enumerated herein, the

LIABILITY FOR INTERNAL REVENUE TAXES

1) INCOME TAX

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 personal, or any activity conducted for profit regardless of the disposition thereof, which income should be returned for taxation. SOCIETY OF THE DIVINE SAVIOR PHILIPPINES INC. is subject to income tax on all

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-half percent (7-1/2%) final withholding income tax pursuant to Section 27(D)(1) in relation to Sec. 57(A) both of the NIRC. and royalties derived from sources within the Philippines are subject to the twenty percent depository bank under the expanded foreign currency deposit system shall be subject to (20%) final withholding tax: Provided, however, that interest income derived by it from a

2) VALUE ADDED TAX/PERCENTAGE TAX

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

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

SOCIETY OF THE DIVINE SAVIOR.PHILIPPINES INC. shall be constituted as

pursuant to Section 57 of the NIRC, as implemented by Revenue Regulations No. 2-98. 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 Titie 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

amended.

Page 3 of 3 Society of the Divine Savior Philippines, Inc. CTE No. _392-2018 Date isued38208

TAXPAYER'S DUTIES & RESPONSIBILITIES 1) SOCIETY OF THE DIVINE SAVIOR PHILIPPINES INC. is required to file on or before showing that there has not been any change in its By-laws, Articles of Incorporation, the 15th day of the fourth month following the end of the accounting period a Profit and its gross income and expenses incurred during the preceding period and a certificate manner of operation and activities as well as sources and disposition of income. Copy of this Certificate of Tax Exemption shall be attached to the aforementioned Annual Information Return. Loss Statement and Balance Sheet with the Annual Information Return under oath, stating

2) Under Section 235 of the NIRC, any provision of existing general and special law to the tax 'exemptions or tax incentives, and its tax liabilities, if any. contrary notwithstanding, the books of accounts and other pertinent records of tax-exempt purposes of ascertaining compliance with the conditions under which it has been granted organization or grantees of tax incentives shall be subject to examination by the BIR for

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 National Internal Revenue Code of 1997, as amended.