BIR Ruling No. 414-2017

REPYBI CG} FHE PHIIHPPNES

DEPARTMENI OF FINANGE BURFAU OF INTERNAL RFVENUE Quezon City

Certificate of Tax Exemption No

CERTIFICATE OF TAX EXEMPTION

issued to

Penthouse. Phinma Plaza. Plaza Drive, Makati City MARIPOSA FOUNDATION, INC. SEC Company Reg. No. TIN

30 (E) of the National Internal Revenue Code of 1997. as amended. It is exempt from INCOM1: proven by actual operation that its primary purpose is one of those enumerated under Section TAX only on the following revenues or reccipts: This certifies that the above-named entity is a non-stock. non-profit corporation and has

1 Donations.

othing follow

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

of BIR. or the terms and conditions herein set forth. earlier revoked hy this Officc for violation of any provisions of applicable rules and regulations This certification shall be valid for three (3) ycars from the date of issuance unless

provided under Revenue Memorandum 'Order (RMO) No. 20-2013. Failure to rencw this period. ('ertificate shall be deemed a revocation thereof upon the expiration of the thrcc (3)-year This Certificate may be renewed upon filing of a subscquent application for revalidation

that the facts are different, then this Certificate shall be considered null aud void. documents as represented and submitted. However, If upon investigation. the BiR ascertains T'his Certificate of Tax Exemption is being issued on the basis of the facts and

Issued this. day of SEP 020

K - Commissioner of InternalRevenuc CAESAR R. DULAY CELIA C.KINGO Wi C

Deputy Commissioner Resource Management Group

Ofcer-in-Charge

Page 2 of 3 Mariposa Foundation Inc. Date Issued: CTE NO. fmm.

OF THE CERTIFICATE OF TAX EXEMPTION TERMS AND CONDITIONS

TAX EXEMPTIONS

1) INCOME TAX.

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

LIABILITY FOR INTERNAL REVENUE TAXES

1) INCOME TAX

income/receipts/revenues not expressly exempted and stated in the Certificate of Tax Exemption. Moreover, it is subject to thc corresponding internai revenuc taxes imposed MARIPOSA FOUNDATION.INC.is subject to income tax on all its disposition thereof, which income should be returned for taxation. under the National Internal Revenue Code of 1997. as amended. on its income derived from any of its properties. real or personal. or any activity conducted for profit regardless of the

Dividends and gains on sale of marketable equity securities listed in the Philippine Stock Exchange (PSE), other short-term and long-term investments are subject to incomc tax. Likewise. interest income from currency bank deposits and yield or any other monctary benefits from deposit substitute instruments and from trust funds and similar arrangements. seven and one-half percent (7-1/2%) final withholding income tax pursuant to Scction 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 subject to 27(D)(1) in relation to Sec. 57(A) both of the National Internal Revenuc Code of 1997. as amended.

2) VALUE-ADDED TAX

If MARIPOSA FOUNDATION, INC. is engaged in the sale of goods or services in the course of a business pursuit. including transactions incidental thereto, in gencral, it shall he liable for value-added tax on the revenues derived therefrom.

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 of 1997, as amcnded.

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3) WITHHOLDING TAX

MARIPOSA FOUNDATION, INC. shall be constituted as withholding agent for the government if it acts as an employer and its employees receive compensation income subject to the withholding tax under Section 79 (A). Chapter X[II. Title II of thc National

the withholding tax pursuant to Section 57 of the National Internal Revenuc Code of 1997. as amended, as implemented by Revenue Regulations No. 2-98, as amended. Internal Revenue Code of 1997, as amended, as implemented by Revenuc Regulations No. 2-98. as amended, or if it makes income payments to individuais or corporations subject to

TAXPAYER'S DUTIES & RESPONSIBILITIES

l) MARIPOSA FOUNDATION,INC. is required to file on or before thc 15th day of the

Balance Sheet with the Annual Information Return under oath, stating its gross income and fourth month following the end of the accounting period a Profit and Loss Statement and

been any change in its By-laws. Articles of Incorporation. manner of operation 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 Rcturn. expenses incurred during the preceding period and a certificate showing that there has not

2) Under Section 235 of the National Internal Revenue Code of 1997. as amended. any provision of existing general and special law 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 incentives, and its tax liabilities, if any. compliance with the conditions under which it has been granted tax exemptions or tax

3) Further, it is also required under Section 6(C) in relation to Section 237 of the National

Internal Revenue Code of 1997, as amended, to issue duly registered receipts or sales or commcrcial invoices for cach sale or transfer of merchandise or for services rendered which arc not directly related to the activities for which the corporation is registered. (Revenue Memorandum Circular No. (RMC] No. 76-2003).

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.