Republic Acts1 min read
Section 12Sec./Art. 12
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Tax Provisions.- In consideration of the franchise and rights hereby granted, the grantee shall pay to the Philippine Government during the life of this franchise a franchise tax of five percent (5%) of the gross receipts derived by the grantee from its domestic air transport operations.
The grantee shall, however, be subject to income tax levied under Title II of the National Internal Revenue Code, as amended, and the tax on its real property under existing law.
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