BIR Ruling No. 77-2018

REPUBLIC OF THE PHILiPPINES DEPARTMENT OF FINANCE BUREAU OF INTERNAI REVENI.IE Quezon Cify Certificate of Tax Exemption No. | ^D- -^. O CERTIFTCATE OF' TAX EXEMPTIOF{ issued ro II{TERNATtrOI{AL SHENC ZHEI{ SOCIETY FOUNDATION Rrn 213 ir,{ile r",,, u,lffii viliage, Makati city TIN: , {,, SEC Compan:/ Reg. No. This cenifies that the above-named corporation is a non-stock, non-profit corporation and iras ploven by actual operation that its prirnary'purpose falis under Section 30 (E) of the Natiorral Inteinai Revenue Code of 1997. as amended. It is exempt fiom INCOME TAX only on the iollowing revelrucs or receipts: 1. Contribufions. --nothing follows---- I subject to the provisions of applicabie BIR ruies and regulations ancl the tax exemptions, iiabilities and resporrsibilities stated in the Terms and Conditions hereto attached and made an integral parl hereof. tt is liable" however, io ali other taxes not enumerated above. Tiiis certific-aticlr shall be valid for tluee (3) years from the date of issuance unless earlier revoked by this Ofiice lbr violation of any provisions of applicable lules and regulations of BIR. or the terms and conditions herein set forth. This Certiflcate ma,u* be renewed tpon filing of a subsequent appiication for revaiidation provided under Rer,'enue Memorandum Order (RMO) No.20-2013. Failure to lenew this Cerlificate shall be deemed a revocation thereof r-rpon the expiration of the three (3 )-year period. fhis Certificaie of Tax Exemption is being issued on the basis of the facts and docunierrts as represented and subrnitied. However. if upon investigation. the BIR ascertains that the facts are difl-erent. tiren this Certificate shall be considered null and void. lssued this da1'of JAru e$ e{JlB ( CAESAR R. DULAY Commissioner of Intemal Rerrenue K-l-sp.f rc I't Ufu-A ','-"T''lur {I flELB& f;" KiruSb 0 ep utv iotnrnisslcrner

I N7' E R N AT 1 OA:A L S TI E N G Z H E A' S O C I ETI' FO LIN D.IT I O N I NC O R PO R+TE D CTENo. 07?-?o18 Page 2 of3 Date issrred i*?9-2O':2 T'ER.MS AND CONDITIONS OF THE CER.TIFICATtr OF TAX EXEMPTION TAX EXEVIPTIW INCOME TAX. IIYTERIyATIONAI- SHENG ZFTEN SOCIETY FOUNDATION INCORPORATED is only exempt from the payment of income iax on revenues and receipts enttmerated on the Certificate of'Tax Exemption. Ivloreover, to be entitled to tire tax exemptions enum,erated hereirr. the association/corporatiorv' organtzation must continue to meet the requirements set fofth under Re'lenue Memorandum Order No. 20-2Q13. LXABILIT,}' FCIR. IN'TER.NAL REVEI\ITE TAXES 1) II{COSIE T'AX t. :Ii-sNIsIuEbR.le.cI{tA10TIinCc'oNmAeL SFIEI{G ZHEN SOCNETY FOIJNDATXON INCORPORATED tax on all its incorne/receipts/revenues not expressly exempted and stated in the Certifica'ie of Tax Exemption. Moreover, it is subjecf to the cor:responding intemai revenue taxes imposed uncjer tlie NIRC on its income derived frorn any of iti propenies, leal cr personal, or ally aoiivity conducted for profit regardless of the disposition thereo{ which income shouid be returned for taxation. i-iken,ise. interest income fi"om currenct. bank rleposits anci -v-ield or any other monetary benefits fi'om deposit substit',rte instruments and frorn tr-uslfuirds and sinilar arrangerrrents. anci roi'alties derived from sources w'ithin the Philippines are subject to the twenty percent (2Ao/o) finai r,vithhoiciing tax: Provided" iiorvever. that'interest incorne derived by it-flom.a deposit-oi.v bank under the expanded foreign currency deposit system shall be subject to seven and one-half percent (7-112%) final withholding income tax pursuant to Section 27{D)(1) in relariori to Sec. i7(A) both of tire NIRC. 2) VALUE ADDED TAX/PER.CENT.&GE TAX lf {ILLRW engaged in the sale of ZgoIo{dsEoNr sesrvgicecsIiEn rthYe-f-fFi OIrNDArroN IIg9SfoeAlEU is pursuit. including transactions inciciental tilereto. its revenues derived therefrom shall be subject to the 12%\iA,T. in case the gross receipts from such sales is One Million Nine Hirndred Nineteen Thousand Five Hundred Pesos (Fl ,919,500.00). or to the 3oh percentage tax".if gioss receipts do not exceed P1,9'i 9.500.00. N.otwrthstanding that it is a non-siock, non-profit corproration. its purchase of goods or Droperlies or services and importation of goods shall nevertheiess be sub.iect tolhe 12o VATpursuant to Sections I06 and i 07 of'the NIRC. 3) WITFIHOLDING TAX rl\ TEr{riATr_or\ 4L sFrE I{ G Z}rEN S O CrE T}' F'OUNDATT ON_l} C ORPOR-ATED shall be constiruted as withholding agent for il -Secrioti its employees recejve oompensation income srrbjbct to the withholding tax r-rnder iel. Chaptel XIII. Title il of i? the NIRC. as implemented b1 Revenue Regulations No. 2- as amended. or iiit malies income pa1'ments to individuals or corporitions subject rc 98. the withholding rar pursuant to Section 5T of the NiRC. as implemented b,u_" Revenue Rec.ulations No. 2-9ti. as am,enCed.

I N T E R I,IA T I O N A L S H E N G Z H E 1," S O C I E T Y F O U NDlg I O N I N C OR P O RA TE D CTE No. o??-trrFi Pase 3 of3 Date issued t-pg-pci18 TAXPAYER'S DUTXES & RESPONSIBILITIES )I TNTERNAT'r9.NAr- StrEI\iG ZHEN SOCrryTy FOUNpATTON TNCORPORATED is required to file on or before the 15th day of the fourth month foliowing the end of thE accounting period a Profit and Loss Statement and Balance Sheet with the Annuai Inforrnation Return 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- iaws. Articles of Incorpcration. rnanner of operation and activities as well as sources and disposition of income. Copy of this Certificate of Tax Exemption shali be attached to the aforementioned Annual Infonnation Return. 2) Under Section 235 of the NIRC, any provision of existing general and special law to the I contraly notwithstanding, the books of accounts and other pertinent records of tax-exempt organization or grantees of tax incentives siiall be subject to examination by the BIR for pulposes of ascertaining comoliance with the conditions under which it has been granted tax exemptions or tax incentives, and its tax liabilities, if any. 3) Further, it is alscr required under Section 6(Cl) in lelation to Section 231 of the NIRC to issue duly registered receipts or sales or comlnercial invoices for each sale or transfer of merchandise or for services rendred which are not directly related to the activities for wirich the Association is registered. (Revenue Memorandum Circular No. [RMC] No. 76- 2003). 4) Finally, it is subject to rhe payment of regislration fee of PhP 500.00 as prescribed in Section 236(8) c,f the NIRC.