BIR Ruling No. 412-2017

BUREAU OFUNTFRNAL REVENUE REPUBLIC OF THE PHILIPPINES DEPARTMENT OF FINANCE

Certificate of Tax Exemptiou No.

410

CERTIFICATE OF TAX EXEMPTHON

issued to

G/F Benpres Bldg.. Exchange Road. Meralco Avenue. San Antonio. P'asig City 1605 EUGENIO LOPEZ FOUNDATION, INC. SEC Company Reg. No. TIN:

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

I. Donations.

nothing foflows

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. liabilities 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 BIR. or the terms and conditions herein sct forth. This certification shall be valid for thrce (3) years from the date of issuance unless

This Certificate may be renewed upon filing of a subsequent application for revalidatior

Certificate shall be deemed a revocation thereof upon the expiration of the thrce (3)-year provided under Revenue Memorandum Order (RMO) No. 20-2013. Failure to renew this

period.

documents as represented and submitted. However. if upon investigation. the BIR aseertains This Certificate of Tax Exemption 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 2317

CAESAR R, DULAY

K-I-JAC Commissioner of Internal Revenue

CELIAC. KINGY wa c.!

Deputy Commissioner Resource Management Group

Officer-In-Charve

Eugenio Lopez Foundation., Inc. CTE NO Page 2 of 3 Datc issuco

OF THF CERTIFICATE OF TAX EXEMPTION FERMS AND) CONDITIONS

TAX EXEMPTION

l} INCOME TAX. EUGENIO LOPEZ FOUNDATION INC. is on|y exempt from thc under Revenue Menorandum Order No. 20-20t 3. payment of income iax on revenues and receipts enumerated on the Certificate of Tax Exemption. Moreover. to be entitled to the tax exemptions enumerated herein. the association/corporation/ organization must continue to meet the requirements set forth

LIABILITY FOR INTERNAL REVENUE TAXES

1) INCOME TAX

activity conducted for profit regardtess of the disposition thereof. which income should be income/receipts/revenues not expressly exempted and stated in the Certificate of Tax Exemption. Moreover. it is subject to the corresponding internal revenuc taxes imposed under thc NIRC on its income derived from any of'its properties. real or personal. or any EUGENIO.LOPEZ FOUNDATION, INC. is subject to income tax on all its

returned for taxation.

and royalties derived from sources within the Philippines are subject to the twenty pereent (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 tax pursuant to Section 27(D)(1) in relation to Sec. 57(A) both of the NIRC Likewise. interest incone from currency bank deposits and yield or any other monetary benefits from deposit suhstitute instruments and from trust funds and similar arrangements!

2) VALUE ADDED TAX

in the course of a business pursuit, including transactions incidental thereto. in general. it shall be liable for VAT on the revenues derived therefrom. If EUGENIO LOPEZ FOUNDATION,INC. is engaged in the sale of goods or services

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 subjeet to the 12% VAT pursuant to Scctions 106 and 107 of the NIRC.

3) WITHHOLDING TAX

subject to the withholding tax under Section 79 (A). Chapter XH1, Title II of the NIR(. as implemented by Revenue Regulations No. 2-98. as amended. or it it makes income 57 of the NIRC. as implemented by Revenuc Regulations No. 2-98. as amended the government if it acts as an employer and its cmployees receive compensation income payments to individuals or corporations subject to the withholding tax pursuant to Section EUGENIO LOPEZ FOUNDATION INC. shall be constituted as withholding agent for

Page 3 of 3 Eugenio Lopez Foundation., Inc. Datc issued9~4-2017 CTE NO. 412201

3) Further. it is also required under Section 6(C) in relation to Section 237 of the NIRC to 2) Under Section 235 of the NIRC. any provision of existing general and special law to the 1) EUGENIO LOPEZ FOUNDATION INC. is required to file on or before the 15th day TAXPAYER'S DUTIES & RESPONSIBILITIES which the Association is registered. (Revenue Memorandum Circular No. [RM('] No. 76- 203 tax exemptions or tax incentives, and its tax liabilities. if any. issuc 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 contrary notwithstanding, the books of accounts and other pertinent records of tax-exenipt organization or grantees of tax incentives shall be subject to examination by the BiR for purposes of ascertaining compliance with the conditions under which i has been granted Exemption shall be attached to the aforementioned Annual Intormation Return. activities as well as sources and disposition of income. Copy of this Certificate of Tax 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, Artictes of incorporation. manner of operation and of the fourth month following the end of the accounting period a Profit and L.oss Statement

4) Finally. it is subject to the payment of registration fee of PhP 500.00 as prescribed in Section 236(B) of thc NIRC