BIR Ruling No. 270-2018

BUREAU OF INTERNAL REVENUE REPUBLICOF THE PHILIPPINES DEPARTMENT OF FINANCE

Quezon City.

Certificate of Tax Exemption No. 270--2018

CERTIFICATEOFTAXEXEMPTION

issued to

DOMINICAN SISTERS OF REGINA ROSARHI, INC. 70 Scout Fernandez St., Brgy. Laging Handa, Quezon City SEC Company Reg. No. TIN:

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 on the following revenues or receipts: This certifies that the above-named corporation is a non-stock, non-profit corporation and

2. Proceeds from fund raising activities such as Adopt a Tree for Mary (ATM), Ciub 4. Contributions for special projects such as for the construction of Regina Rosarii 3. Love and Pastoral Offerings; and 1. Donations from individual and corporate entities; 513, Mary's One Million and others; Institute for Contemplation in Asia (RICA).

nothing foliow

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 all other taxes not enumerated above.

revoked by this Office for violation of any provisions of applicable rules and regulations of BIR. This certification shall be valid for three (3) years from the date of issuance unless earlier

or the terms and conditions herein set forth.

provided under Revenue Memorandum Order (RM0) 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 upon filing of a subsequent application for revalidation

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 documents

Issued this day of. B272018

188a

CAESARR.DULAY

K-I'spf Commissioner of Internal Revenue 013666

Page 2 of 3 Dominican Sisters Of Regina Rosarii, Inc Date issued CTE NO.

OF THE CERTIFICATE OF TAX EXEMPTION TERMS AND CONDITIONS

TAX EXEMPTION

1. INCOME TAX. DOMINICAN SISTERS OF REGINA ROSARHI,INC. is only eXempt association/corporation/ organization must continue to meet the requirements set forth under Revenue Memorandum Order No. 20-2013. 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

LIABILITY FOR INTERNAL REVENUE TAXES 1) INCOME TAX

returned for taxation. activity conducted for profit regardless of the disposition thereof, which income should be its income/receipts/revenues not expressly exempted and stated in the Certificate of Tax under the NIRC on its income derived from any of its properties, real or personal, or any Exemption. Moreover. it is subject to the corresponding internal revenue taxes imposed DOMINICAN SISTERS OF REGINA ROSARII. INC. is subject to income tax on all

seven and one-half percent (7-1/2%) final withholding income tax pursuant to Section 27(D)(1) in relation to Sec. 57(A) both of the NIRC. depository bank under the expanded foreign currency deposit system shall be subject to Likewise. interest income from curreney bank deposits and yield or any other monetary benefits from deposit substitute instruments and from trust funds and similar arrangements. and royalties derived from sources within the Philippines are subiect to the twenty percent (20%) final withholding tax: Provided. however. that interest income derived by it from a

2) VALUE ADDED TAX/PERCENTAGE TAX

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

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

it makes 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. DOMINICAN SISTERS_OF REGINA ROSARHIINC. 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] Title II of the NIRC. as implemented by Revenue Regulations No.2-98. as amended. or if

Page 3 of 3 Dominican Sisters Of Regina Rosarii, Ine CTEN.O20 Date issued 227e2018

TAXPAYER'S DUTIES & RESPONSIBILITIES

3) Further, it is also required under Section 6(C) in relation to Section 237 of the NIRC to issue 2) Under Section 235 of the NIRC, any provision of existing general and special law to the 1) DOMINICAN SISTERS OF REGINA ROSARII. INC. is required to file on or before which the Association is registered. (Revenue Memorandum Circular No. [RMC] No. 76- 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 2003 tax exemptions or tax incentives, and its tax liabilities, if any. purposes of ascertaining compliance with the conditions under which it has been granted 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 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 Return. that there has not been any change in its By-laws, Articles of Incorporation. manner of its gross income and expenses incurred during the preceding period and a certificate showing 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 oath. stating

4)Finally, it is subject to the payment ofregistration fee of PhP 500.00 as prescribed in Section 236(B) of the National Internal Revenue Code of 1997, as amended.