BIR Ruling No. 417-2017

REPUBLIC OF THE PHILIPPINES

DEPARTMEN'T OF FINANCE BUREAU OF INTERNAL REVENUE

. uezon City

Certificate of Tax Fxemption No.

CERTIFICATE OF TAX EXEMPTION

issued tc

3/F Newton Compound. Manalac Ave.. Bagong Tanyag. Taguig City GABRIEL'S SYMPHONY FOUNDATION INC SEC Company Reg. No. IN

proven by actual operation that its primary purpose is one of those enumerated under Section 30 (E) of the National Internal Revenue Code of t 997, as amended. It is exempt from INCOMF TAX only on the following revenues or receipts: This certifics that the above-named entity is a non-stock, non-profit corporation and has

1 Donations.

lothing follow:

integral part hereof. It is liahle. 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!

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

period. Certificale shall be deemed a revocation thereof upon the cxpiration of the three (3)-year provided under Revenuc Memorandum Order (RMO) No. 20-20i3. 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 that the facts are different. then this (ertificate shall be considered null and void. This Certificate of Tax Exemption is being issued on the basis of the facts and

Issued this day ofI:

Commissioner of Internal Revenue CAESAR R. IULAY

Cui c. Celia C.KING} Deputy Commissioner

Ciabrict's Symphony Foundation, Inc CTe No. 17-07 Page 2 of 3 Date Issued: -201

TERMS AND CONDITIONS OF THE CERTIFICATE OF TAX EXEMPTION

TAX EXEMPTIONS

1) INCOME TAX.

any member. organizer, officer or any specific person. GABRIEL'S SYMPHONY FOUNDATION INC. is exempt from the payment of provided, that no part of its net income or asset shall belong to. or inure to the benefit of income tax only on revenues and receipts enumerated on the Certificate of Tax Exemption

LIABILITY FOR INTERNAL REVENUE TAXES

1) INCOME TAX

disposition thereof, which income should be returned for taxation. GABRIEL'S SYMPHONY FOUNDATION, 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 National Internal Revenue Code of 1997, as amended, on its incone derived from any of its properties, real or personal. or any activity conducted for profit regardiess of the

seven and one-half percent (7-1/2%) final withholding income tax pursuant to Section 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 depository bank under the expanded foreign currency deposit system shali be subject to 27(D)(1) in relation to Sec. 57(A) both of the National Internal Revenue Code of 1997. as Likewise, interest income from currency bank deposits and yield or any other monetary amended.

2) VALUE-ADDED TAX

services in the course of a business pursuit, including transactions incidental thereto. in general. it shall be liable for value-added tax on the revenues derived therefrom. If GABRIEL'S SYMPHONY FOUNDATION INC, is engaged in the sale of goods or

of 1997, as amended. Notwithstanding that it is a non-stock, non-profit corporation, its purchasc of goods or properties or services and importation of goods shall nevertheless be subject to the 12% value-added tax pursuant to Sections 106 and 107 of the National Internal Revenue Code

Page 3 of 3 Gabriel's Symphony Foundation, Inc. Date Issued: 9-4-2017 CIE No. 417-2017

3) WITHHOLDING TAX

amended. GABRIEL'S SYMPHONY FOUNDATION,INC. shall be constituted as withholding agent for the government if it acts as an employer and its employees receive compensation Regulations No. 2-98. as amended. or if it makes income payments to individuals or corporations subject to the withholding tax pursuant to Section 57 of the National Internal Revenue Code of 1997. as amended. as implemented by Revenue Regulations No. 2-98. as income subject to the withholding tax under Section 79 (A), Chapter XIII. Title II of the National Intcrnal Revenue Code of 1997. as amended. as implemented by Revenue

TAXPAYER'S DUTIES & RESPONSIBILITIES

1) GABRIEL'S SYMPHONY FOUNDATION, INC. is required to file on or before the that there has not been any change in its By-laws, Articies of Incorporation. manner of 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 oath, stating its gross income and expenses incurred during the preceding period and a certificate showing opcration 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.

2) Under Section 235 of the National Internal Revenue Code of 1997. as amended. any provision of existing general and special iaw to the contrary notwithstanding, the books of accounts and other pertinent records of tax-exempt 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.

3) Further. it is also required under Section 6(C) in rclation to Section 237 of the National Mcmorandum Circular No. [RMC] No. 76-2003). commercial invoices for each sale or transfer of merchandise or for services rendered which are not directly related to the activities for which the corporation is registered. (Revenue Internal Revenue Code of 1997, as amended. to issue duly registered receipts or sales o1

4) Finally. it is subject to the payment of registration fee of PhP500.00 as prescribed in Section 236(B) of the National Internal Revenue Code of 1997, as amended.