Republic Acts1 min read
Section 11Sec./Art. 11
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Payment of Franchise Tax and Other Taxes. -
a. The grantee shall be liable to pay the same taxes on its income, business, real estate, buildings and personal property, exclusive of the franchise, as other person(s) or corporations which are now or hereafter may be required by law to pay.
b. The grantee shall further pay to the Treasurer of the Philippines each year, within ten (10) days after the audit and approval of the accounts as prescribed by this Act, three percent (3%) of all gross receipts from the business transacted under this franchise by the said grantee.
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