BIR Ruling No. 617-2017

BUREAU OF INTERNAL REVENUE REPUBL. -* F THE PHILIPPINES DEPART MFNT OF FINANCE

Quezon City

Certificate of Tax Exemption No. 617-07

CERTIFICATE OF TAX EXEMPTION

issucd to

THE RAMAKRISHNA VEDANTA SOCIETYOF THE PHILIPPINES, INC. No. 25 Saint Peter St.. Horseshoe Drive, Quezon City SEC Company Reg. No. TIN:

National Internal Revenue Code of 1997. as anended. It is exempt from INCOME TAX only and has proven by actual operation that its primary purposc falls under Scction 30 (E) of thc This certifies that the above-named corporation is a non-stock, non-profit corporation

on the following revenues or receipts:

T. Honations.

nothing follow.

integral part hereof. It is liable, however. to all other taxes not enumerated above. subject to the provisions of applicasle 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 hercin set forth. This certification shall be valid for threc (3) years from the date of issuance unless

period. Certificate shall be deemed a revocation thereof upon the expiration of the threc (3)-year provided under Rcvenuc Mcmorandum Order (RMO) No. 20-2013. Failure to renew this 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 Ihis 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.. EC 142017

AEwoMA

K- Commissioner of Internal Revenue CAESAR R. DULAY 011721

The Ramakrishna Vedanta Society of the Philippines, Inc. Page 2 of 3 Date issued 12-14-20 17 CTE No. 617-2017

OF THE CERTIFICATE OF TAX EXEMPTION TERMS AND CONDITIONS

TAX EXEMPTION

LIABILITY FOR INTERNAL REVENUE TAXES 1) INCOME TAX. THE RAMAKRISHNA VEDANTA SOCIETY OF THE PHILIPPINES requirements set forth under Revenue Memorandum Order No. 20-2013. enumerated herein, the association/corporation/ organization must continue to meet the on the Certificate of Tax Exemption. Moreover, to be entitled to the tax exemptions INC. is only exempt from the payment of income tax on revenues and receipts enumerated

1) INCOME TAX

income should be returned for taxation. 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 activity conducted for profit regardiess of the disposition thereof, which THE RAMAKRISHNA VEDANTA SOCIETY OF THE PHILIPPINES iNC. is subiect to

seven and one-half percent (7-1/2%) final withhoiding income tax pursuant to Section 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 trom a 27(D)(1) in relation to Sec. 57(A) both of the NIRC. 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 perccnt Likewise, interest income from currency bank deposits and yield or any other monetary

2) VALUE ADDED TAX/PERCENTAGE TAX

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

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 tax pursuant to Section 57 of the NIRC, as impiemented by Reventie Regulations No. 2-98, as amended. constituted as withholding agent for the government if it acts as an employer and its employees receive compensation incomc subject to thc withholding tax under Section 79 (A), Chapter XII1, T'itle II of the NIRC, as impiemented by Revenue Regulations No. 2-98. as amended, or if it makes income paymcnts to individuals or corporations subject to the THE RAMAKRISHNA VEDANTA SOCIETY OF THE PHILIPPINES,INC. shali be

Tage 3 of 3 The Ramakrishna Vedanta Society of the Philippines, Inc. CTE No. -637 =2017 Dale issued 12- 14-2017.

TAXPAYER'S DUTIES & RESPONSIBILITIES

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

Annual Information Rcturn.

2) Under Section 235 of the NIRC, any provision of cxisting general and special law to the organization or grantees of tax incentives shali 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 tax exemptions or tax incentives, and its tax liabilities. if any. of accounts and other pertinent records of tax-exempt

3) Further, it is also required under Section 6(C) in relation to Section 237 of the NIRC to issuc duly rcgistered 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