BIR Ruling No. 78-2018

REPUBLTC OF THE PHILIPPINES DEPARTMENT OF FINANCE BUREAU OF INTERNAT REVENUE Quezon Ciff ertificate of Tax Exemption No. an? :r.. '* CERTIFICATE OF TAX EXEMPTIOI\ I issued to *Ew LlFk?tfttfrlfHisfHf g*yzA'' INC TIN S[:C Company Reg. No. Thi,s certif-res that the above-named entity is a non-stock, non-profit corporation and lias i pro!'cl] by actual operation that its primary purpose is one of those enumerated under Sectiorr ! 30 (E) of-the National Internal Revenue Code of 7997 , as amended. It is exempt from iNCONIE I TAX onll' on the lollowing revenues or receipts: i , l. Tithes and offering. ----------nothing follows---- :I.iuapbji9lit9iel stoanthderepsropvoiussioibt'itlsitieosf applicable BIR rules and regulations and the tax exemptions, stated in the Terms and Conditions hereto attacired and made an integral parl hereof. It is liable, however, to all other taxes not enumerated above. This cerlification shali be valid for three (3) years from the date of issuance unless earlier revoked by this Office lor violation of any provisions of applicable rules and regulations of BIR. or the terms and conditions herein set forth. 'l'his flerritlccte mav be renelved Lrpon filing of a sr-rbsequent application 1br revalidation prol'ided'under Rel'enue il4emorandum'Order ifuAOl No. 20-20ij. Failure ro renew this Certilicatc shall be deemed a revocation thereof.upon the expiration o1'the tlLree (3)-lear period. l'his Certif-icate of Tax Exemption is being issued on the basis of the lacts and documents as represented and submitted. However, if uporr investigation, the BIR ascertains that tire facts are dif'ferent, then this Cerlificate shall be considered null and void. Issr-red this da1'of "ier-d 2 $ ,2fiig_ K- l-RFtt CAESAR R. DULAY Comrnissioner of Internal Revenue I t "". eitu" d" ''o/' csrsA f. srru# Il c'niltv Corn mlssi i^rn p r

New Lif-e Christian Center (Tanza), lnc. CTE No. 'of Page 3 Date Issued: l-?9-?C1l: 2 o F r H E .T"trf,tlif3i'?iT?Ii Mp rr o N TAX EXEMPTIONS lI') tNCOME TAX. NEW I-IFE CHRISTIAN CENTER (TANZA). INC. is exempt from the payment of income tax only on revenues and receipts enumerated on the Certificate of Tax Exemption provided, that no part of its net income or asset shall belong to, or inure to the benetlt of any member, organizer, oflicer or any specific person. LIABILITY FOR INTERNAL REVENUE TAXES Ir INCONIE TAX NEW LIFE CHRISTIAN CENTER (TANZA). INC. is subject to income tax on all its ir-rcome/receipts/revenues not expressly exempted and stated in the Certificate of Tax Exemption. Moreover, it is subject to the corresponding internai revenue taxes irnposed und.er the National Internal Revenue Code of 1997, as amended, on its income derived flom any of its properties. real or personal, or any activity conducted for protit regardless of the dispbsition thereof, which income should be returned lor taxation. I)ividends 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 income tax. l.ikevv'ise. interest income fiom currency bank deposits and yield or any other monetary bencfits fiom deposit substitute instruments and from trust funds and similar arrangelnents, and royalties derived from sources within the Philippines are subject to the twenty percent (20%) frnal 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 seven and one-half percent (7-112%) final withholding incorne tax pursuant to Sectiot.t 27(D)(l) in relation to Sec. 57(A) both of the National Internal Revenue Code of 1997. as amended. I r VALL E-ADDED TAX If NEW LIFE CHRISTIAN CENTER (TANZA). INC. is engaged in the sale of goods or services in the course of a business pursuit, including transactions incidental thereto. in vh general. it shall be liable fbr vaiue-addgd tax on the revenues derived therefrom.

New Lit'e Christian Center (Tanza), Inc CTE No. o?B*mJ8 Date lssued: 1-ry)*pol8 .t Notwithstanding that it is a non-stock, non-profit corporation, its purchase of goods or properlies or services and importation of goods shall nevertheless be subject to the 12oh value-added tax pursuant to Sections 106 and 107 of the National Intemal Revenue Code of i 997, as amended 3) wrrHHoLDrNG T;X NEW LIFE CHRISTIAN CENTER (TANZA).INC. shall be constituted as withholding agent tbr the goverrunent 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 National Internal Revenue Code of 1997, as amended, as implemented 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 National Internal Revenue Code of 1997, as amended, as implemented by Revenue Regulations No. 2-98. as amended. TAXPAYER'S DUTIES & RESPONSIBILITIES 1) NEW I-IFE CHRISTIAN CENTER (TANZA). INC. is required to file on or before the l5th day of the fourth month following the end of the accounting period a Profit and Loss Stafement and Balance Sheet with the Annual Information Retum under oath, stating its gross income and expenses incurred during the preceding period and a certificate showing that there has not been any change in its By-laws, Articles of Incorporatiot-t. 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. 2) l]nder Section 235 of the Nationai Intemal 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 ascefiaining cgmpliance with the conditions under which it has been granted tax exemptions or tax incentives. and its tax liabilities, if any. 3) Fr,n-tl.rer. it is also required under Section 6(C) in relation to Section 237 of the National Ir.rternal Revenue Code of 1997, as amended, to is,sue 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 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 lnternal Revenue Code of 199J , as amended.