Certificate of Tax Exemption No. 431-18

March 12, 2018 CERTIFICATE OF TAX EXEMPTION NO. 431-18 CERTIFICATE OF TAX EXEMPTION issued to PHILIPPINE BAPTIST S.B.C., INC. 2715 Park Avenue, Pasay City TIN: 000-000-000-000 This certifies that the donation under the Deed of Donation dated June 05, 2017, executed by PHILIPPINE BAPTIST S.B.C., INC. in favor of: Name of Donee TIN Address First Buhangin Baptist Church 000-000-000-00 Pag-asa Village, Buhangin, Davao City covering the following property: Transfer Certificate of Title Area (sq.m.) Area Donated (sq.m.) Location T-137995 317 317 Pag-asa Village, Buhangin, Davao City T-137996 683 683 being gifts in favor of a religious corporation is exempt from the payment of the donor's tax pursuant to Section 101 (A) (3) of the Tax Code of 1997, as amended, subject to the condition that not more than thirty percent (30%) of said gift shall be used by the donee for administration purposes. Moreover, Section 185 of Regulations No. 26, otherwise known as the Revised Documentary Stamp Tax Regulations, implementing Title VII of the Tax Code, provides that conveyances of realties not in connection with a sale, to trustees or other persons without consideration are not taxable. Accordingly, the Deed of Donation is likewise not subject to the documentary stamp tax prescribed under Section 196 of the Tax Code, as amended, but only to the documentary stamp tax of P15.00 imposed under Section 188 of the same Code. This Certificate of Tax Exemption is being issued on the basis of the facts and 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. Issued this 12th day of March, 2018. (SGD.) CAESAR R. DULAY Commissioner of Internal Revenue