BIR Ruling No. 323-2017

BUREAU OF INTERNAL REVENUE REPUBLIC OF THE PHILIPPINES DEPARTMENT OF FINANCE Quezon City

Certificate of Tax Exemption No.

3232017

CERTIFICATEOFTAXEXEMPTION

issued to

Zone 3. Bo. Obrero La Paz. Iloilo City 5000 HOPE BAPTIST CHURCH,INC SEC Company Reg. No. TIN:

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

1. Tithes and Offering; and 2. Donations.

nothing follow

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

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

provided under Revenue Memorandum Order (RMO) No. 20-2013. Failure to renew this period. Certificate shall be deemed a revocation thereof upon the expiration of the three (3)-year This Certificate may be renewed upon filing of a subsequent application for revalidation

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. This Certificate of Tax Exemption is being issued on the basis of the facts and Issued this day of JUN 3 O 2017

Aeu&amy

K- Commissioner of Internal Revenue CAESAR R.DULAY B 0074

Page 2 of 3 Hope Baptist Church, Inc. CTE No. Date issued 630201 323-2017

OF THE CERTIFICATE OF TAX EXEMPTION TERMS AND CONDITIONS

TAX EXEMPTION

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

LIABILITY FOR INTERNAL REVENUE TAXES

1) INCOME 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. HOPE income/receipts/revenues not expressly exempted and stated in the Certificate of Tax BAPTISTCHURCH.INC.issubject to income tax on allits

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. 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 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

for VAT on the revenues derived therefrom. If HOPE BAPTIST CHURCH, 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

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

subject to the withholding tax under Section 79 (A), Chapter XIII, Title fI of the NIRC, as HOPE BAPTIST CHURCH, INC. shall be constituted as withholding agent for the government if it acts as an employer and its employees receive compensation income implemented by Revenue Regulations No. 2-98. as amended, or if it makes income 57 of the NIRC. as implemented by Revenue Regulations No.2-98.as amended. payments to individuals or corporations subject to the withholding tax pursuant to Section

Hope Baptist Church, Inc. Page 3 of 3 Date issued 3 CTE No. 333.201

TAXPAYER'S DUTIES & RESPONSIBILITIES

1) HOPE BAPTIST CHURCH,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 attached to the aforementioned Annual Information Return. 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 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 wel

2) Under Section 235 of the NIRC, any provision of existing general and special law to the 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. contrary notwithstanding. the books of accounts and other pertinent records of tax-exemp

3) Further. it is also required under Section 6(C) in relation to Section 237 of the NIRC to which the Association is registered. (Revenue Memorandum Circular No. [RMC] No. 76- 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 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