BIR Ruling No. 283-2018

REPUBLICOF THE PHILIPPINES

DEPARTMENT OF FINANCE BUREAU OF INTERNAL REVENUE Quezon City

Certificate of Tax Exemption No.

283-2018

CERTIFICATTEOFTAXEXEMIPTION

issued to

BEACON OF CHRIST BIBLE COMMUNITY, INC. Capitol Hills, Kumintang Ibaba, Batangas City SEC Reg. No. TIN

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

1. Tithes, Offerings and Love gifts.

nothing follows.

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.

integral part hereof. It is liable, however, to all other taxes not enumerated above.

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

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

period. Certificate shall be deemed a revocation thereof upon the expiration of the three (3)-year

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

that the facts are different, then this Certificate shall be considered null and void.

Issued this day of FEB 2 7 2013

13

K-1-JAC Commisiner of Intr3 CAESAR R.DULAY

Beacon of Christ Bible Community, Inc. Page 2 of 3 CTE No. Date issued 2832018 2m272018

OF THE CERTIFICATE OF TAX EXEMPTION TERMS AND CONDITIONS

TAX EXEMPTION

1) INCOME TAX.

BEACON OF CHRIST BIBLE COMMUNITY,INC. is only exempt from the payment of

Moreover, to be entitled to' the tax exemptions enumerated herein, the income tax on revenues and receipts enumerated on the Certificate of Tax Exemption. association/corporation/ organization must continue to meet the requirements set forth under Revenue Memorandum Order No. 20-2013.

LIABILITY FOR INTERNALREVENUE TAXES

1) INCOME TAX

BEACON OF CHRIST BIBLE COMMUNITY,INC. is subject to income tax on all its

Exemption. Moreover, it is subject to the corresponding internal revenue taxes imposed any of its properties, real or personal, or any activity conducted for profit regardless of the income/receipts/revenues not expressly exempted and stated in the Certificate of Tax under the National Internal Revenue Code of 1997, as amended, on its income derived from disposition thereof, which income should be returned for taxation.

Likewise, interest income from currency bank deposits and yield or any other monetary 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 National Internal Revenue Code of 1997, as (20%) final withholding tax: Provided, however, that interest income derived by it from a

amended.

2) VALUE ADDED TAX/PERCENTAGE TAX

If BEACON OF CHRIST BIBLE COMMUNITY,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 (P1,919,500.00), or to the 3% percentage tax, if gross receipts do not exceed P1,919,500.00.

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 National Internal Revenue Code of 1997, as amended.

3) WITHHOLDING TAX

BEACON OF CHRIST BIBLE COMMUNITY,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, 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.

Beacon of Christ Bible Community, Inc. Page 3 of 3 Date issued 2m27m2018 CTE No. 283.2018

TAXPAYER'S DUTIES & RESPONSIBILITIES

1) BE ACON OF CHRIST BIBLE COMMUNITY,INC.is required to file on or before the 15th

Certificate of Tax Exemption shall be attached to the aforementioned Annual Information day of the fourth month following the end of the accounting period a Profit and Loss that there has not been any change in its By-laws, Articles of Incorporation, manner of operation and activities as well as sources and disposition of income. Copy of this Return. 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

2) Under Section 235 of the National Internal 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 compliance with the conditions under which it has been granted tax exemptions or tax incentives shall be subject to examination by the BIR for purposes of ascertaining incentives, and its tax liabilities, if any.

3) Further, it is also required under Section 6(C) in relation to Section 237 of the National Internal Revenue Code of 1997, as amended, to issue duly registered receipts or sales or commercial invoices for each sale or transfer of merchandise or for services rendered which Memorandum Circular No. [RMC] No. 76-2003). are not directly related to the activities for which the Association is registered. (Revenue

4) Finally, it is subject to the payment of registration fee of PhP 500.00 as prescribed in

Section 236(B) of the National Internal Revenue Code of 1997, as amended.