BIR Ruling No. 460-2017

BUREAU OF INTERNAL REVENUE REPCBLIC OF THF PHILIPPINES DEPARTMENT OF FINANCE

Certificate of Tax Exemption No.

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6th Flr. STI Academic Center University Parkway (Drive STI ALUMNI ASSOCIATION, INC. SEC Company Reg. No. Fort Bonifacio Global City TIN:

National Internal Revenue Code of 1997. as amended. It is exempt from INCOME T'AX only and has proven by actual operation that its primary purpose falls under Section 30(C) of the on the following revenues or receipts: This certifies that the above-named corporation is a non-stock. non-profit corporation

1. Alumni Fees

nothing follows.

liabilities and responsibilitics 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. 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 se: forth. This certification shall be valid for three (3) years from the date of' issuance unless

provided under Revenue Memorandum Order (RMO) No. 20-2013. Failure to renew this Certificate shall be deemed a revocation thereof upon the expiration of the three (3)-year period. This Certificate may be renewed upor. i Hing of a subsequent application for revalidation

documents as represented and submitted. Hovever. if upon investigation. the BIR ascertains that the facts are different, then this Certificaie 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

1a30n

K-1 Commissioner of Internai Revenuc CAESAR R. DULA Y 009311

CELIA C. KING Deputy Commissioner Resource Management Group

Officer-in-Charge

Page 2 of 3 STI Alumni Association, Inc. Date issued CTE NO

OF THE CERTIFICATE OF TAX EXEMPTION TERMS AND CONDITIONS

TAX EXEMPTION

1) INCOME TAX. STI ALUMNI ASSOCIATION, INC. is only exempt from the payment of income tax on revenues and receipts enumerated on the Certificate of Tax Exemption. Moreover. to be entitled to "the tax exemptions enumerated herein, the association/corporation/ organization must continue to meet the requirements set forth under Revenue Memorandum Order No. 20-2013.

LIABILITY FOR INTERNAL REVENUE TAXES

1) INCOME TAX

STI ALUMNI ASSOCIATION.INC. is subjectto incometax on all its income/receipts/revenues not expressly exempted and stated in the Certificate of Tax Excmption. Moreover, it is subject to the corresponding internal revenue taxes imposed under'the NIRC on its income derived from any of its properties, rcal or personal. or any activity conducted for profit regardless of the disposition thereof, which incomc should be returned for laxation.

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 Section Likewisc. interest inconie from currency bank deposits and yield or any other monetary depository bank under thc expanded foreign currency deposit system shall be subject to 27(D)(1) in relation to Sec. 57(A) both of the NIRC. 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

course of a business pursuit. including transactions incidental thereto, in general. it shall be liable for VAT on the revenues derived therefrom. If STI ALUMNI ASSOCIATION, INC. is engaged in the sale of goods or services in the

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 subiect to the 12%

3) WITHHOLDING TAX

implemented by Revenue Regulations No. 2-98. as amcndcd. or if it makes income 57 of the NIRC, as impiemented by Revenue Regulations No. 2-98. as amended. STI ALUMNI ASSOCIATION 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 XIII, Titte II of the NIRC. as payments to individuals or corporations subject to the withholding tax pursuant to Section

STI Alumni Association, Inc. CTE No Page 3 of 3 Date issued

TAXPAYER'S DUTIES & RESPONSIBILITIES

1) STl ALUMNI ASSOCIATION,INC. is required to file on or before the 15th day of the fourth month foliowing the end of the accounting period a Profit and Loss Statement 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. manner of operation and Exemption shall be attached to the aforementioned Annual Information Return. Balance Sheet with the Annual Information Return under oath. stating its gross income and activities as well as sources and disposition of income. Copy of this Certificate of Tax

2) Under Section 235 of the NIRC, any provision of existing general and special iaw to the organization or grantees of tax incentives shall be subject to examination by the BIR for tax exemptions or tax incentives, and its tax liahilities. if any. contrary notwithstanding, the books of accounts and other pertinent records of tax-exenipt purposes of ascertaining compliance with the conditions under which it has been granted

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