BIR Ruling No. 327-2017

REPUBLIC OF THE PHILIPPINES

BUREAUOF INTERNAL REVENUE DEPARTMENT OF FINANCE Quezon City

Certificate of Tax Exemption No.

327-2017

CERTIFICATE OF TAX EXEMPTION

issued to

CHRISTIAN BIBLE CHURCH OF THE PHILIPPINES, INC 72 Talayan St., Talayan Village, Quezon City 1104 TIN:

SEC Company Reg. No.

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

National Internal Revenue Code of 1997, as amended. It is exempt from INCOME TAX only and has proven by actual operation that its primary purpose falls under Section 30 (E) of the on the following revenues or receipts:

I. Donations and Contributions.

nothing follow:

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.

integral part hereof. It is liable, however, to all other taxes not enumerated above.

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

of BIR, or the terms and conditions herein set forth.

provided under Revenue Menorandum Order (RMO No. 20-2013. Failure to renew this This Certificate may be renewed upon filing of a subsequent application for revalidation

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 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 J U 2017

o

K-1-JAC Commissioner of Internal Revenue CAESAR R.DULAY 007461

10E8S

Page 2 of 3 Christian Bible Church of the Philippines, Inc. Date issued CTE No. 327-2017 30-2017

OF THE CERTIFICATE OF TAX EXEMPTION TERMS AND CONDITIONS

TAX EXEMPTION

1 INCOME TAX.CHRISTIAN BIBLE CHURCH OF THE PHILIPPINES,INC.iS set forth under Revenue Memorandum Order No. 20-2013. Certificate of Tax Exemption. Moreover, to be entitled to the tax exemptions enumerated herein, the association/corporation/ organization must continue to meet the requirements only exempt from the payment of income tax on revenues and receipts enumerated on the

LIABILITY FOR INTERNALREVENUE TAXES

1) INCOME TAX

activity conducted for profit regardless of the disposition thereof, which income should be CHRISTIAN BIBLE CHURCH OF THE PHILIPPINES.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 personal, or any returned for taxation.

depository bank under the expanded foreign currency deposit system shall be subject 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 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

2) VALUE ADDED TAX

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. If CHRISTIAN BIBLE CHURCH OF THE PHILIPPINES,INC.is engaged in the sale

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

withholding agent for the government if it acts as an employer and its employees receive it makes income payments to individuals or corporations subject to the withholding tax 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 pursuant to Section 57 of the NIRC, as implemented by Revenue Regulations No. 2-98, as amended. CHRISTIAN BIBLE CHURCH OF THE PHILIPPINES,INC.shall be constituted as

Christian Bible Church of the Philippines, Inc. Page 3 of 3 Date issued 6-30-2017 CTE No. 327-2017

TAXPAYER'S DUTIES & RESPONSIBILITIES

1) CHRISTIAN BIBLE CHURCH OF THE PHILIPPINES,INC. is required to file on or before the l5th day of the fourth month following the end of the accounting period a Profit

and Loss Statement and Balance Sheet with thc 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. this Certificate of Tax Exemption shall be attached to the aforementioned Annual manner of operation and activities as well as sources and disposition of income. Copy of

Information Return.

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 contrary notwithstanding, the books of accounts and other pertinent records of tax-exempt 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