BIR Ruling No. 375-2017

REPUBLICOFTHE PHILIPPINES

BUREAU OFINTERNAL REVENUE DEPARTMENT OF FINANCE

Certificate of Tax Exemption No.

375-2017

CERTIFICATE OF TAXEXEMPTION

issued to

No. 57 cor, Examiner, Times St., West Triangle, 1104 Quezon City Suites 206 & 207 2nd Floor Times Square Building SEC Company Reg. No. CI-PHILIPPINES.INC TIN

National Internal Revenue Code of 1997, as amended. It is exempt from INCOME TAX only and has proven by actual operation that its primary purpose falls under Section 30(G) of the on the following revenues or receipts: This certifies that the above-named corporation is a non-stock, non-profit corporation

1. Donations and Grants. -nothing follows

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. liabilities and responsibilities stated in the Terms and Conditions hereto attached and made an

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. This certification shall be valid for three (3) years from the date of issuance unless

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

that the facts are different, then this Certificate shall be considered null and void. documents as represented and submitted. However, if upon investigation, the BIR ascertains This Certificate of Tax Exemption is being issued on the basis of the facts and

Issued this day of AU5 i 1 2017

1oweay

K-1-JRC Commissioner of Internal Revenue CAESAR R. DULA 008656

CI-PHILIPPINES, INC. Page 2 of 3 Date issued CTE No 375-2017 11-2017

OF THE CERTIFICATE OF TAX EXEMPTION TERMS AND CONDITIONS

TAX EXEMPTION

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

LIABILITY FOR INTERNAL REVENUE TAXES

1) INCOME TAX

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

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 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 NIRC. Likewise. interest income from currency bank deposits and yield or any other monetary (20%)final withholding tax: Provided, however, that interest income derived by it from a

2) VALUE ADDED TAX

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

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

CI-PHILIPPINES,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 by Revenue 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 NIRC,as implemented by Revenue Regulations No.2-98.as amended. withholding tax under Section 79(A),Chapter XIII,Title II of the NIRC,as implemented

CI-PHILIPPINES INC. Page 3 of 3 Date issued 8w 112017 CTE No. 375m2017

TAXPAYER'S DUTIES & RESPONSIBILITIES

1) CI-PHILIPPINES.INC. is required to file on or before the 15th day of the fourth month 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 Return. following the end of the accounting period a Profit and Loss Statement and Balance Sheet incurred during the preceding period and a certificate showing that there has not been any with the Annual Information Return under oath, stating its gross income and expenses

2) Under Section 235 of the NIRC, any provision of existing general and special law to the tax exemptions or tax incentives, and its tax liabilities, if any. 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

3) Further, it is also required under Section 6(C) in relation to Section 237 of the NIRC to which the Association is registered. (Revenue Memorandum Circular No. [RMC] No. 76. issue duly registered receipts or sales or commercial invoices for each sale or transfer of 2003) merchandise or for services rendered which are not directly related to the activities for

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