BIR Ruling No. 334-2017

BUREAU OF INTERNAL REVENUE REPUBLICOF THE PHILIPPINES DEPARTMENT OF FINANCE Quezon City

Certificate of Tax Exemption No.

334-2017

CERTIFICATE OF TAX EXEMPTION

issued to

IMMACULATE CONCEPTION ACADEMY OF SAN JUAN, INC. 10 Grant St., Greenhills, San Juan City, Metro Manila SEC Company Reg. No. TIN:

and has proven by actual operation that its primary purpose is one of those enumerated under Section 30(H) 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

3. Income derived from the operations of the cafeterias/canteens and bookstores 2. Tuition Fees, matriculation fees, registration fees other school related fees; 1. Donations; Iocated within its premises, owned and operated by Immaculate Conception Academy of San Juan, Inc., to be actually,directly and exclusively used for educational purposes.

nothing follows

integral part hereof. It is liable, however, to all other taxes not enumerated above. liabilities and responsibilities stated in the Terms and Conditions hereto attached and made an subject to the provisions of applicable BIR rules and regulations and the tax exemptions.

for violation of any provisions of applicable rules and regulations of the BIR, or the terms and character, purpose or method of operation of the corporation which are inconsistent with the basis for its income tax exemption. conditions herein set forth. It shall likewise be revoked if there are material changes in the This certification shall be valid from the date of issuance until revoked by this Office

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 UN30 2017

1080

K-1/ spf Commissioner of Internal Revenue CAESAR R.DULA 007457

Page 2 of 3 Immaculate Conception Academy of San Juan, Inc. Date issued 6-30--2017 CTE No. 33402017

under Section 30(H) of the National Internal Revenue Code of 1997, as Amended OF THE CErtIFICATE OF TAX EXEMPTiOn For Non-Stock, Non-Profit Educational Institution TERMS AND CONDITIONS

TAX EXEMPTION

1) INCOME TAX. IMMACULATE CONCEPTION ACADEMY OF SAN JUAN, INC. iS exempt from the payment of income tax only on revenues and receipts enumerated on the requisites as set forth under Revenue Memorandum Order (RMO) No 44-2016, to wit: Certificate of Tax Exemption. It is understood that the school must continue to meet the following

ii. Its revenues are actually, directly and exclusively used for educational purposes. i. It is a non-stock, non-profit educational institution; and

compliance with the conditions that as a tax-exempt educational institution it shall on an annual tax and 7 1/2% tax on interest income under the expanded foreign currency deposit system imposed basis submit to the Revenue District Office concerned an annual information return and duly audited financial statement together with the following: IMMACULATE CONCEPTION ACADEMY OF SAN JUAN,INC.'s interest income from currency bank deposits and yield from deposit substitute instruments used actually, directly and exclusively in pursuance of its purpose as an educational institution, are exempt from the 20% final under Section 27 (D) (1) of the National Internal Revenue Code of 1997, as amended, subject to

of 1997, as amended: (a)Certification from their depository banks as to the amount of interest income system imposed by Section 27 (D) (1) of the National Internal Revenue Code earned from passive investment not subject to the 20% final withholding tax and 7 1/2% tax on interest income under the expanded foreign currency deposit

(b)Certification of actual utilization of the said income; and

following the end of its taxable year (Sec. 4, Finance Department Order No. (c)Board Resolution by the school administration on proposed projects (i.e.. construction and/or improvement of school buildings and facilities, acquisition of equipment, books and the like) to be funded out of the money deposited in banks or placed in money markets, on or before the 15th day of the fourth month 137-87)

2) VALUE ADDED TAX (VAT) ON EDUCATIONAL SERVICES. Pursuant to Section VAT gross receipts from operations as a non-stock, non-profit educational institution is exempt from 109((H) of the NIRC,IMMACULATE CONCEPTION ACADEMY OF SAN JUAN,INC.'s

' Department Order No. 149-95 dated November 24, 1995 amending Department Order No. 137-87

Inumaculate Conception Academy of San Juan, Inc Page 3 of 3 CTE No. Date issued6-30-2017 3342017

LIABILITY FOR INTERN ALREVENUE TAXES 1) INCOME TAX

actually, directly and exclusively used for educational purposes. conducted for profit, which income should be returned for taxation, unless said revenues are NIRC, as amended, on its income derived from any of its properties, real or personal, or any activity IMMACULATE CONCEPTION ACADEMY OF SAN JUAN,INC.is subject to income tax on all its income/ receipts/ revenues not expressly exempted and stated in the Certificate of Tax Exemption. Moreover, it is subject to the corresponding internal revenue taxes imposed under

2) VALUE ADDED TAX

general. it shall be liable for VAT on the revenues derived therefrom. of goods or services in the course of a business pursuit, including transactions incidental thereto, in If IMMACULATE CONCEPTION ACADEMY OF SAN JUAN,INC.is engaged in the sale

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

WITHHOLDING TAX

NIRC, and as implemented by Revenue Regulations No. 2-98, as amended. the NIRC, as implemented by Revenue Regulations No. 2-98, as amended, or if it makes income 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 payments to individuals or corporations subject to the withholding tax pursuant to Section 57 of the IMMACULATE CONCEPTION ACADEMY OF SAN JUAN,INC.shall be constituted as

TAXPAYER DUTIES &RESPONSIBILITIES 1) IMMACULATE CONCEPTION ACADEMY OF SAN JUAN,INC. is required to file on or well as sources and disposition of income. Copy of this Certificate of Tax Exemption shall be attached to the aforementioned Annual Information Return. not been any change in its By-laws, Articles of Incorporation, manner of operation and activities as before 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 its gross income and expenses incurred during the preceding period and a certificate showing that there has

2) Under Section 235 of the National Internal Revenue Code of 1997, as amended, any provision of it has been granted tax exemptions or tax incentives, and its tax liabilities, if any. pertinent records of tax-exempt organization or grantees of tax incentives shall be subject to existing general and special law to the contrary notwithstanding, the books of accounts and other examination by the BIR for purposes of ascertaining compliance with the conditions under which

3) Further, it is also required under Section 6(C) in relation to Section 237 of the National Internal No. [RMC] No. 76-2003). 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 Revenue Code of 1997, as amended. to issue duly registered receipts or sales or commercial

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 J