BIR Ruling No. 415-2017

RIPUBIIGOFIHPHHIPPIN}S

BURFAUOF INTERNA RFVENUF DARIMEAIOFIANGT Quezon City

Certificate of Tax Exemption No.

: .H.:

CERTIFICATE OF TAX EXEMPTION

issued to

ALAN R. FRASER FOUNDATION, INC Pacitic Information Tech Center, Pascor Drive. Sto. Nino. P'aranaque City SEC Company Reg. No. TN:

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 This certifics that the above-named corporation is a non-stock. non-prolit corporation

on the following revenues or receipts:

1. Donations.

nothing follows

subject to the provisions of applicable BIR rules and regulations and the tax exemptions. tiabilities and responsibilities stated in the Terms and Conditions hereto attached and made an 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 B!R, or the terms and conditions herein set forth.

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

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

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+t. 5

CAESAR R. DULAY

K-I-JAC Commissioner of Internal Revenue CELIA C.KINO cwa c.lu

Deputy Commissioner Resource Management Group

Officer-in-Charge

Alan R. Fraser Foundation, Inc. CTE NO *:

Page 2 of 3 Date issued --

OF THE CERTIFICATE OF TAX EXEMPTION TERMS AND CONDITIONS

TAX EXEMPTION

l) INCOME TAX. ALAN R.FRASER FOUNDATION INC. is only exempt from the Exemption. Moreover, to bc entiticd to the tax exemptions enumerated herein. the association/corporation/ organization must continuc to meet the requirements set forth under Revenue Memorandum Order No. 20-2013. payment of income tax on revenues and receipts enumerated on the Certificate of Tas

LIABILITY FOR INTERNAL REVENUE TAXES

1) INCOME TAX

income/receipts/revenues not expressly exempted and stated in the Certificate ot Tax ALAN..R. FRASER FOUNDATION...INC. is subicct to incomc tax on all its Exemption. Moreover, it is subiect 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 thercof. which income should be returtied for taxation.

27(D)(U) in re{ation to Sec. 57(A) both of the NIRC. Likewise. interest income from currency bank deposits and yield or any other monetary henefits from deposit substitute instruments and from trust funds and similar arrangements. and royaities derived fron sources within the Philippines are subject to the iwenty percen (20%) final withholding tax: Provided. however. that interest income derived hy it from a 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

2) VALUE ADDED TAX

shall be liabie for VAT on the revenues derived therefrom. in the course of a business pursuit. including transactions incidental thereto, in general. it If ALAN R. FRASER FOUNDATION INC. is engaged in the sate of goods or services

Notwithstanding that it is a non-stock. non-profit corporation. its purchase of goods or VAT pursuant to Sections 106 and 107 of the NIRC. properties or services and importation of goods shall nevertheless be subject to the 12%

3) WITHHOLDING TAX

implemented by Revenue Regulations No. 2-98, as amended. or if it makes income the government if it acts as an employer and its employees receive conipensation income payments to individuals or corporations subject to the withholding tax pursuant to Section 57 of the NIRC. as implemented by Revenue Regulations No. 2-98. as amended. subject to the withhoiding tax under Section 79 (A)Chapter XII. Title II of the NIRC. as ALAN R. FRASER_FOUNDATION INC. shall be constituted as withholding agent for

Alan R. Fraser Foundation, Inc. Page 3 of 3 Date issued 9-4--2017 CIE No. +152'17

TAXPAYER'S DUTIES & RESPONSIBILITIES 1) ALAN R.FRASER FOUNDATION, INC. is required to filc on or bcforc thc 15th day not been any change in its By-laws. Articles of Incorporation. manner of operation and activities as wetl as sources and disposition of income. Copy of this Certificate of Tax Exemption shall be attached to the aforcmentioned Annual Information Rcturn. of the fourth month Tollowing the end of the accounting period a Profit and Loss Statemen 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

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 contrary notwithstanding. the books of accounts and other pertinent records of tax-exempt purposes of asccrtaining 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(() in relation to Section 237 of the NIRC to issuc duly registered receipts or sales or commercial invoices for cach sale or transfer ot merchandise or for services rendered which are not directly related to the activities for 2003 which the Association is registered. (Revenue Memorandum Circular No. [RMC] No. 76-

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