BIR Ruling No. 393-2018

REPUBLIC OF THE P HILIPPINES

DEPARTMENT OF FINANCE BUREAU OF JNTERNAL REVENUE Ouezon Cit

Certificate of Tax Exemption No.

393-2018

CERTIFICATE OF TAX EXEMPTON

issued to

TOUCHLIFE GLOBAL FOUNDATION, INC. IForMerIY: BIBLICA PUBLISHING AND DISTRIBUTION FOUNDATION, INC.]

Unit 201 Benelisa Mansion, 222 F. Roxas Street, corner 4th Avenue, Barangay 51, Zone 5, Grace Park. District 2. Caioocan City 14000 SEC Company Reg. No. TIN:

This certifies that the above-named corporation is a non-stock, non-profit corporation

INCOME TAX only on the following revenues or receipts: and has proven by actual operation that its primary purpose is one of those enumerated under Section 30 (E) of the National Internal Revenue Code of 1997, as amended. It is exempt from

Revenues from sale of bibles which shall be used in furtherance of its Donations; and

purposes.

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

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

that the facts are different, then this Certificate shali 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_MAR 0 8 2018

1ao

K-I-Y'DPM /LMAT Commissioner of Internal Revenue CAESAR R. DULAY 014124

TOUCHLIFE GLOBAL FOUNDATION, INC. Date issued_3-8-2018 CTE No. 393-2018

OF THE CERTIFICATE OF TAX EXEMPTION TERMS AND.CONDITIONS

TAX EXEMPTIONS

1) INCOME TAX

provided, that no part of its net income or asset shall beiong to, or inure to the benefit of tax oniy on revenues and receipts enumerated on the Certificate of Tax Exemption, any member, organizer, officer or any specific person. TOUCHLIFE GLOBAL FOUNDATION, INC. is exempt from the payment of income

LIABILITY FOR INTERNAL REVENUE TAXES

1) INCOME TAX

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 the National Internal Revenue Code of 1997, as amended, on its income derived from any of its properties, real or personal, or any activity conducted for profit regardless of the TOUCHLIFE GLOBAL FOUNDATION, INC. is subject to income tax on all its disposition thereof, which income should be returned for taxation.

Likewise, interest income from currency bank deposits and yield or any other monetary 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 (20%) final 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 27(D)(1) in relation to Sec. 57(A) both of the National Internal Revenue Code of 1997, as seven and one-half percent (7-1/2%) final withholding income tax pursuant to Section amended.

2) VALUE ADDED TAX (VAT)/PERCENTAGE TAX

If TOUCHLIFE GLOBAL FOUNDATION, INC. is engaged in the sale of goods or revenues derived therefrom shall be subject to the twelve percent (12%) VAT, in case the services in the course of a business pursuit, including transactions incidental thereto, its receipts do not exceed One Million Nine Hundred Nineteen Thousand Five Hundred Pesos (P1,919,500.00) gross receipts from such sales exceed One Million Nine Hundred Nineteen Thousand Five Hundred Pesos (P1,919,500.00), or to the three percent (3%) percentage tax, if gross

twelve percent (12%) VAT pursuant to Sections 106 (A) of the National Internal Revenue or properties or services and importation of goods shall nevertheless be subject to the Notwithstanding the fact that it is a non-stock, non-profit corporation, its purchase of goods Code of 1997, as amended.

3) WITHHOLDING TAX

amended. 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 Reguiations 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 TOUCHLIFE GLOBAL FOUNDATION, INC. shall be constituted as withholding

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TOUCHLIFE GLOBAL FOUNDATION, INC CTE No. Date issued 393-2018 8-2018

TAXPAYER'S DUTIES & RESPONSIBILITIES

1) TOUCHLIFE GLOBAL FOUNDATION, INC. is required to fite on or 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 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 Certificate of Tax Exemption shall be attached to the aforementioned Annual Information Return.

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 incentives shall be subject to examination by the BIR for purposes of ascertaining compliance with the conditions under which it has been granted tax exemptions or tax 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 commercial 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 No. (RMC] No. 76-2003). Internai Revenue Code of 1997, as amended, to issue duly registered receipts or sales or

4) Finally, it is subject to the payment of registration fee of PhP 500.00 as prescribed in Section 236(B) of the National Internai Revenue Code of 1997, as amended.

-K-I-LMAT

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