Mirant Sual Corporation vs. Commissioner of Internal Revenue

DEC ISI O N

PALANCA-ENRIQUEZ, J.: Section 112 (A) of the NIRC of 1997, as amended, expressly provides that unutilized input VAT payments, not otherwise used for internal revenue tax due the taxpayer, must be claimed within two (2) years reckoned from the close of the taxable quarter when the relevant sales were made pertaining to the input VAT regardless of whether said tax was paid or not. The reckoning frame would always be the end of the quarter when the sales were made regardless when the input VAT was (9)!

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2 paid. Further, both the administrative claim and judicial claim for refund must be filed within the two (2) year period.

THE CASE

This is a Petition for Review filed by petitioner TeaM Sual Corporation (Formerly: Mirant Sual Corporation and Southern Energy Pangasinan, Inc.) praying for a refund or issuance of a tax credit certificate in the total amount ofP103,588,530.59, representing unutilized input VAT paid on its domestic purchases of capital goods, domestic purchases of goods other than capital goods, domestic purchases of services, services rendered by non residents, importation of capital goods and importation of goods other than capital goods attributable to its zero- rated sales for the period from January 1, 2005 to October 31, 2005.

THE PARTIES

Petitioner is a domestic corporation duly organized and existing under and by virtue of Philippine laws with principal office at Bo. Pangascasan, Sual, Pangasinan. Petitioner was originally registered with the SEC under the name of Pangasinan Electric Corporation, which was changed to Southern Energy Pangasinan, Inc., then to Mirant Sua] Corporation. During the pendency of this case, it again changed its - corporate name to TeaM Sual Corporation on July 23, 2007.

3 Respondent, on the other hand, IS the duly appointed Commissioner of Internal Revenue, vested with authority to act on and approve claims for refund or issuance of tax credit certificate of overpaid internal revenue taxes as provided by law, with office address at the BIR National Office Building, Agham Road, Diliman, Quezon City.

THE FACTS

The antecedent facts of the case are as follows: Petitioner is principally engaged in the busines? of power generation and subsequent sale thereof to National Power Corporation (NPC) under a Build, Operate, Transfer (BOT) scheme. As such, it is principally registered with the BIR as a VAT taxpayer, in accordance with Section 107 of the NIRC of 1997, as amended, with Tax Identification No. 003-841-103. On December 17, 2004, petitioner filed with the BIR Audit Information Tax Exemption and Incentives Division an Application for Effective Zero-Rate of its supply of electricity to the NPC for the period January 1, 2005 to October 31, 2005, which was subsequently approved. On December 21 , 2006, petitioner filed an administrative claim for refund ofunutilized input VAT with the Revenue District Office No.5, at

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4 Alaminos City in the total amount of P1 03,588,530.59 for the period January 1, 2005 to October 31, 2005. In order to preserve its right and to toll the runnmg of the prescriptive period for its judicial claim, petitioner filed the instant Petition for Review on April 18, 2007. In his Answer filed on May 28, 2007, respondent, by way of special and affirmative defenses, averred that the CT A has no jurisdiction to entertain the instant petition for r~view for failure of petitioner to comply with Section 112 (D) of the NIRC of 1997, as amended; that the administrative claim for refund with the BIR was filed on December 21, 2006, subsequently, the instant petition was filed on April 15, 2007, obviously, the 120 days given to Commissioner to decide on the claim has not yet lapsed when the petition was filed; hence, the petition was prematurely filed and must be dismissed for lack of jurisdiction. Petitioner presented Taryn Uberita and Emmanuel Mendoza, as witnesses, and documentary evidence marked as Exhibits "A" to "XX", inclusive of their submarkings, which were admitted by the Court, except for Exhibits "W" to "Z", "EE" to "HH", and their submarkings, for failure of the petitioner to identify the same during trial. .;;ac

5 Upon motion of counsel for the petitioner, respondent's right to present evidence was considered waived for his repeated failure to appear at the trial for the presentation of his-evidence. Thereafter, both parties were ordered to file their simultaneous memoranda, within thirty (30) days from notice. Considering petitioner's "Memorandum" filed on March 20, 2009 and respondent's "Memorandum" filed on May 4, 2009, the case was deemed submitted for dec.ision on May 12, 2009. Hence, this decision.

ISSUES

As stipulated upon by the parties, the following are the issues for this Comi's consideration: I

WHETHER OR NOT THE POWER GENERATION

SERVICES RENDERED BY PETITIONER FOR THE

PERIOD JANUARY 1, 2005 TO OCTOBER 31, 2005 TO NPC, MIRANT PHILIPPINES ENERGY CORPORATION, MIRANT PHILIPPINES INDUSTRIAL POWER CORPORATION, AND MIRANT PHILIPPINES INDUSTRIAL POWER II CORPORATION ARE

SUBJECT TO ZERO PERCENT (0%) VAT PURSUANT

TO RA NO. 6395, AND THE EPIRA, AND ITS IMPLEMENTING RULES AND REGULATIONS. @JY

II

WHETHER OR NOT PETITIONER HAD UTILIZED

INPUT VAT FOR THE PERIOD JANUARY 1, 2005 TO OCTOBER 31, 2005 IN THE TOTAL AMOUNT OF P103,588,530.59 WHICH ARE ATTRIBUTABLE TO

PETITIONER'S ZERO RATED SALES OF POWER

GENERATION SERVICES TO NPC, MIRANT PHILIPPINES ENERGY CORPORATION, MIRANT PHILIPPINES INDUSTRIAL POWER CORPORATION,

AND MIRANT PHILIPPINES INDUSTRIAL POWER II

CORPORATION PURSUANT TO RA NO. 6395, AND THE EPIRA, AND ITS IMPLEMENTING RULES AND REGULATIONS.

III

WHETHER OF NOT THE ADMINISTRATIVE CLAIM

FOR REFUND FILED BY PETITIONER WITH REVENUE DISTRICT OFFICE NO. 5 AT ALAMINOS CITY ON DECEMBER 21, 2006 IN THE AMOUNT OF p103,588,530.59 AND THE INSTANT PETITION FOR REVIEW WERE SEASONABLY FILED. IV

WHETHER OR NOT THE UNUTILIZED CREDITABLE

INPUT TAXES FOR THE PERIOD JANUARY 1, 2005 TO OCTOBER 31, 2005 IN THE TOTAL AMOUNT OF P103,588,530.59 ARE PROPERLY SUBSTANTIATED BY INVOICES AND OFFICIAL RECEIPTS. v

WHETHER OR NOT THE UNUTILIZED INPUT VAT

PAYMENTS FOR THE PERIOD JANUARY 1, 2005 TO OCTOBER 31, 2005 IN THE TOTAL AMOUNT OF Pl03,588,530.59 WERE CARRIED OVER TO AND w 6 ~88

UTILIZED IN THE SUCCEEDING TAXABLE

QUARTER(S) ARE APPLIED AGAINST ANY OF THE

OUTPUT VAT LIABILITY OF THE PETITIONER. VI

WHETHER OR NOT PETITIONER IS ENTITLED TO A

REFUND AND/OR ISSUANCE OF TAX CREDIT

CERTIFICATE FOR THE UNUTILIZED INPUT VAT

PAYMENTS IN THE TOTAL AMOUNT OF Pl 03,588,530.59.

Principal Issue 7 The foregoing Issues raised by both parties boil down to the principal issue of whether or not petitioner is entitled to a refund or issuance of a tax credit certificate in the aggregate amount of P 103, 588,530.59, representing unutilized excess input VAT attributable to zero-rated sales for the second and third quarters and the month of October for taxable year 2005.

THE COURT'S RULING

The petition is partly meritorious. Petitioner anchors its claim on Section 112(A) of the National Internal Revenue Code (NIRC) of 1997, as amended, which provides, as follows:

"SEC. 112. Refunds or Tax Credits oflnput Ta(j/r;J 8 (A) Zero-rated or Effectively Zero-rated Sales. - Any VAT -registered person, whose sales are zero-rated or effectively zero-rated may, within two (2) years after the close of the taxable quarter when the sales were made, apply for the issuance of a tax credit certificate or refund of creditable input tax due or paid attributable to such sales, except transitional input tax, to the extent that such input tax has not been applied against output tax: Provided, however, That in the case of zero-rated sales under Section 106(A)(2)(a)(1),(2) and (B) and Section 108(B)(l) and (2), the acceptable foreign currency exchange proceeds thereof had been duly accounted for in accordance with the rules and regulations of the Bangko Sentral ng Pilipinas (BSP): Provided further, That where the taxpayer is engaged in zero-rated or effectively zero-rated sale and <;tlso in taxable or exempt sale of goods or properties or services, and the amount of creditable input tax due or paid cannot be directly and entirely attributed to any one of the transactions, it shall be allocated proportionately on the basis of volume of sales." Pursuant to the above provision, in order to be entitled to a refund or tax credit certificate of input VAT attributable to zero-rated or effectively zero-rated sales, the following requisites must be complied with:

1) there must be zero-rated or effectively zero-rated sales; 2) that input taxes were incurred or paid; 3) that such input taxes are attributable to zero-rated sales or effectively zero-rated sales; 4) that the input taxes were not applied against any output VAT liability; and (JL :.;go

9 5) that the claim for refund was filed within the two-year prescriptive period.

Fi(th Requisite:

Claim for refund was filed within the two-year period This Court finds it appropriate to determine first the timeliness of the filing of the instant claim. Clearly, Section 112 (A) provides that the taxpayer may apply for a refund or issuance of a tc;1x credit certificate, within two (2) years from the close of the taxable quarter when the importation or purchase was made. In the recent case of Commissioner of Internal Revenue vs. Mirant Pagbilao Corporation (Formerly Southern Energy Quezon, Inc.), 565 SCRA 154, the Supreme Court settled the issue on the reckoning of the prescriptive period and the applicable provisions of claims for refund for input VAT, as follows: "Claim for refund or tax credit filed out of time The claim for refund or tax credit for the creditable input VAT payment made by MPC embodied in OR No. 0189 was filed beyond the period provided by law for such claim. Sec. 112(A) ofthe NIRC pertinently reads: (A) Zero-rated or Effectively Zero-rated Sales. - Any VAT -registered person, whose sales are zero- rated or effectively zero-rated may, within two (2) years after the close of the taxable quarter when the sales were made, apply for the issuance of a tax (f)_ credit certificate or refund of creditable input tax due or paid attributable to such sales, except transitional input tax, to the extent that such input tax has not been applied against output tax: x x x.

(Emphasis ours.)

The above proviso clearly provides in no uncertain terms that unutilized input VAT payments not otherwise used for any internal revenue tax due the taxpayer must be claimed within two years reckoned from the close of the taxable quarter when the relevant sales were made pertaining to the input VAT regardless of whether said tax was paid or not. As the CA aptly puts it, albeit it erroneously applied the aforequoted Sec.

112(A), '[P]rescriptive period commences from the close of the taxable quarter when the sales were made and not from the ·time the input VAT was paid nor from the time the official receipt was issued.' Thus, when a zero-rated VAT taxpayer pays its input VAT a year after the pertinent transaction, said taxpayer only has a year to file a claim for refund or tax credit of the unutilized creditable input VAT. The reckoning frame would always be the end of the quarter when the pertinent sales or transaction was made, regardless when the input VAT was paid. Be that as it may, and given that the last creditable input VAT due for the period covering the progress billing of September 6, 1996 is the third quarter of 1996 ending on September 30, 1996, any claim for unutilized creditable input VAT refund or tax credit for said quarter prescribed two years after September 30, 1996 or, to be precise, on September 30, 1998. Consequently, MPC's claim for refund or tax credit filed on December 1 0, 1999 had already prescribed. Reckoning for prescriptive period under Sees. 204(C) and 229 of the NIRC i~applicable To be sure, MPC cannot avail itself of the provisions of either Sec. 204(C) or 229 of the NIRC which, for the purpose of refund, prescribes a different starting point for 10 the two-year prescriptive limit for the filing of a claim therefor. Sees. 204(C) and 229 respectively provide: Sec. 204.

Authority of the Commissioner to Compromise, Abate and Refund or Credit Taxes. - The Commissioner may - xxxx (c) Credit or refund taxes erroneously or illegally received or penalties imposed without authority, refund the value of internal revenue stamps when they are returned in good condition by the purchaser, and, in his discretion, redeem or change unused stamps that have been rendered unfit for use and refund their value upon proof of destruction. No credit or refund of taxes or penalties shall be allowed unless the taxpayer files in writing with the Commissioner a claim for credit or refund within two (2) years after the payment of the tax or penalty: Provided, however, That a return filed showing an overpayment shall be considered as a written claim for credit or refund.

xxxx Sec. 229.

Recovery of Tax Erroneously or Illegally Collected.- No suit or proceeding shall be maintained in any court for the recovery of any national internal revenue tax hereafter alleged to have been erroneously or illegally assessed or collected, or of any penalty claimed to have been collected without authority, of any sum alleged to have been excessively or in any manner wrongfully collected without authority, or of any sum alleged to have been excessively or in any manner wrongfully collected, until a claim for refund or credit has been duly filed with the Commissioner; but such suit or proceeding may be maintained, whether or not such tax, penalty, or sum has been paid under protest or duress. In any case, no such suit or proceeding shall be filed after the expiration of two (2) years from the date of payment of the tax or penalty regardless of any supervening cause that may arise after payment: Provided, however, That the Commissioner may, even without a written claim therefor, refund or credit any 11 .j9J tax, where on the face of the return upon which payment was made, such payment appears clearly to have been erroneously paid. (Emphasis ours.) Notably, the above provisions also set a two-year prescriptive period, reckoned from date of payment of the tax or penalty, for the filing of a claim of refund or tax credit. Notably too, both provisions apply only to instances of erroneous payment or illegal collection of internal revenue taxes."

12 Evidently, Section 112 (A) of the NIRC of 1997, as amended, clearly provides in no uncertain terms that unutilized input VAT payments not otherwise used for internal revenue tax due the taxpayer must be claimed within two (2) years reckoned from the close of the taxable quarter when the relevant sales were made or capital goods were imported or locally purchased pertaining to the input VAT, regardless of whether said tax was paid or not. The reckoning frame would always be the end of the quarter when the sales were made or capital goods were imported or locally purchased, regardless when the input VAT was paid. In this case, petitioner is claiming for the input VAT accumulated from January 1, 2005 to October 31, 2005, hence, the counting ofthe two

(2) year prescriptive period is, as follows: Period covered January 1 to March 31 , 2005 (First Quarter) Reckoning date March 31 , 2005 Last day to file a claim (both administrative & judicial) March 31 , 2007

April 1 to June 30, 2005 (Second Quarter) July 1 to September 30, 2005 (Third Quarter) October 1- 31 , 2005 June 30; 2005 September 30, 2005 December 31 , 2005 13 June 30, 2007 September 30, 2007 December 31, 2007 Records show that petitioner filed its administrative claim on December 21, 2006 (Exhibit "B ') and the present Petition for Review on April 18, 2007. Clearly, petitioner's administrative claim for the first three (3) quarters of 2005 and for the month of October 2005 was filed within the prescriptive period of two (2) years. However, petitioner's judicial claim for the first quarter of 2005 was filed out of time. Therefore, petitioner is barred from claiming refund of its input taxes for the first quarter of 2005 in the amount of P18,738,140.02 due to prescription.

First Requisite:

There must be zero-rated or effectively zero rated sales As regards the first requisite, petitioner contends that its sale of services to NPC qualifies for VAT zero-rating, pursuant to Section 108 (B) (3) of the NIRC of 1997, as amended, which provides: "SEC. 108. Value-added Tax on Sale of Services and Use or Lease of Properties.- XXX XXX (B) Transactions Subject to Zero Percent (0°/o) Rate.- The following services performed in the Philippines by VAT -registered persons shall be subject to zero percent (0%) rate:

XXX XXX

(3) Services rendered to persons or entities whose exemption under special laws or international agreements to which the Philippines is a signatory effectively subjects the supply of such services to zero percent (0%) rate; xxx xxx."

14 It is well settled that NPC is exempt from payment of all kinds of taxes, both direct and indirect (Maceda vs. Macaraig, 223 SCRA 236), to wit:

"The use of the phrase 'all forms' of taxes demonstrates the intention of the law to give NPC all the tax exemption it has been enjoying before. The rationale for this exemption is that being non-profit the NPC 'shall devote all its returns from its capital investment as well as excess revenues from its operation, for expansion.' XXX XXX It is evident from the provisions of PD No. 938 that its purpose is to maintain the tax exemption of NPC from all forms of taxes including indirect taxes as provided for under R.A. No. 6395 and P.D. No. 380 if it is to attain its goals.

xxx xxx."

J9G

15 Petitioner further presented its Application for VAT Zero-Rate (Exhibit "A") to prove that the BIR approved its application for zero-rating for the period from January 1, 2005 to October 31, 2005 for its sales to NPC.

Petitioner also claims that its sale of electricity, as a generation company, to other compames other than the NPC, qualifies for VAT zero-rating under paragraph 5, Section 6 of RA 9136(EPIRA Law), which states:

"SEC. 6. Generation Sector. xxx XXX XXX Pursuant to the objective of lowering electricity rates to end- users, sales of generated power by generation companies shall be value added tax zero-rated. xxx xxx."

To qualify for VAT zero-rating under the EPIRA law, petitioner must be able to establish that: 1) it is a generation company and 2) it derives sales from power generation. 1) Generation Company Section 4 of RA 9136 provides: "SEC. 4. Definition of Terms.- XXX XXX .j97 (w) "Generation Company" refers to any person or entity authorized by the ERC to operate facilities used in the generation of electricity;" (Emphasis supplied) 16 As regards the first requisite, petitioner failed to establish that it is a generation company in accordance with RA 9136. Petitioner failed to present any proof that it was registered with the Energy Regulatory Commission (ERC), pursuant to Section 4 of RA 9136, in relation to Section 6 (b) Rule 5 of the IRR, nor did it present any document to prove that it was accredited by the Department of Energy. Moreover, petitioner's claim under the EPIRA Law is being raised for the first time in this Court, it was never raised at the administrative level. Notably, in its administrative claim for refund with the BIR, only petitioner's sales to NPC were raised, as subject to zero-percent VAT, hence, it cannot raise the issue of its zero-rated sales to other companies, pursuant to the EPIRA Law for the first time in this Court. It is well settled that under the principle of prior exhaustion of administrative remedies, questions or issues not raised in the administrative level cannot be raised for the first time in the judicial level. To allow a litigant to assume a different posture when he comes before the court and challenge the position he had accepted at the administrative level, would be to · sanction a procedure whereby the Court-which is supposed to review J98 I'

17 administrative determinations-would not rev1ew, but determine and decide for the first time, a question not raised at the administrative forum (Commissioner of Internal Revenue vs. Wander Philippines, Inc. , 160 SCRA 573). Thus, petitioner's sales of generated power to Mirant Philippines Energy Corporation, Mirant Philippines Industrial Power Corporation, and Mirant Philippines Industrial Power II Corporation, cannot be claimed as zero percent (0%) VAT under the EPIRA Law. 2) Derives sales (rom power generation As regards the second requisite, records show that for the three quarters of taxable year 2005 until October of the same year, petitioner generated sales of power generation services to NPC and various companies in the total amount of P12,276,041,728.09, which was declared in its Quarterly VAT Returns for the three (3) quarters and the Monthly VAT Return for the month of October, as follows: Zero-Rated Exhibit Year 2005 Sales/Receipts c 151 Quarter 3,775,412,124.01 D 2nd Quarter 3,600,420,391 .50 E 3rct Quarter 3,700,406,077.70 I month of October 1 '199,803, 134.88 TOTAL 12,276,041,728.09 The ICPA found a marked discrepancy between the total zero-rated receipts ofP11,007,487,989.41 reflected in petitioner's books of accounts . .

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18 and the total zero-rated receipts of P12,276,041,728.09 declared by petitioner in its 2005 Quarterly VAT Returns. In his report, the ICP A reconciled the amounts reported in the Quarterly VAT returns with the amounts recorded in the books as gross receipts, as follows: , "Total Amounts reported in the Quarterly VAT Returns P12,276,041 , 728.09 Add: Receivables, October 31 , 2005 Accrual of current year's revenue Less: Receivables, beginning Reversal of previous year's accrual of Revenue Foreign exchange difference Sales per books 1,295,912,485.40 45,311,352.37 1 ,330,191 ,291 .35 1,273,229,991.31 1,341,223,837.77 6,356,293.79 (2,609,777,576.45) P11 ,007,487,989.41 The difference of P 1 ,263,553, 738.68 is mainly attributable to the accrual basis of accounting used in reporting zero-rated sales in the Company's books as against the actual receipts reported in the quarterly VAT Returns." (Exhibit "G ", pp. 12- 13) Considering the above findings of this Court, we are constrained to deduct the amount corresponding to the zero-rated sales for the first quarter due to prescription, and the alleged zero-rated sales which did not qualify for zero-rating for failure of petitioner to prove its entitlement under the EPIRA Law and for petitioner's failure to exhaust administrative remedies.

The total disallowed amount of P4,057,987,717.64, is computed as follows:

''

1st Quarter (due to prescription) 2nd Quarter MPIPC 3,004,545.95

MPI P-11 C

44,795,375.78 MPEC 114,713,450.45 3rd Quarter MPEC 84,751,495.71 MPIPC 1,109,534.31

MPIP- 11 C

22,687,895.82 October

MPIP-11 C

TOTAL 19 P3,775,4 12,124.01 162,513,372.18 108,548,925.84 11,513,295.61 P4,057,987,717 .64 Only petitioner's sales of electricity to NPC, as a power generation company, for the second and third quarters, and the month of October all for the year 2005, in the total amount of P8,218,054,010.45, qualify for VAT zero-rating, thus: Claimed Zero Rated Sales Less: Deductions Substantiated Zero- Rated Sales Second and Third Requisites: Input taxes were incurred or paid and that such input taxes are attributable to zero-rated sales or effectively zero-rated sales P12,276,041 ,728.09 4,057,987,717.64 P8,218,054,01 0.45 We now proceed to the determination of the amount of input VAT attributable thereto. Petitioner submitted various suppliers' invoices, official receipts, Bureau of Customs (BOC) Import Entries and Internal Revenue Declarations (IEIRDs ), BOC and bank official receipts (Exhibits "S" to 40 1

20 "V", with submarkings, as summarized in Exhibits "0" to "R'), in support of its claimed unutilized input taxes reflected in its Quarterly VAT Returns for the four quarters of 2005, in the amount of Pl 03,588,530.59, broken down, as follows:

PERIOD COVERED

1st quarter 2nd quarter 3rd quarter October TOTAL

CLAIMED INPUT TAX

P18,738,140.02 34,033,077.52 37,548,063.34 13,269,249.71 P1 03,588,530.59 Upon perusal of said documents, the Court-Commissioned Independent CPA Emmanuel Mendoza found that out of the claimed amount of Pl 03,588,530.59, only the amount of Pl 02,894,131.30 (!CPA Report, Exhibit "J" {erroneously marked as Exhibit "G "], pp. 4-8) is properly substantiated.

The findings of the ICP A as to the disallowance of claimed input VAT amounting to P694,399.29 are further reduced to P348,163.67, after deducting the disallowances corresponding to the prescribed claim for first quarter of2005, which is hereby summarized, as follows:

DISALLOWANCES PER INDEPENDENT CPA'S REPORT

FINDINGS

INPUT TAX

Domestic purchases of services supported by documents other than Ors P3,641.48 Domestic purchases of goods supported by documents other than invoices 35,583.92 Domestic purchases of goods supported by invoices with no BIR authority to print 56,408.33 ~ 4 02

Domestic purchases of services supported by Ors w/preprinted Non-VAT/NV Domestic purchases of goods supported by invoices w/preprinted Non-VAT/NV Domestic purchases of services supported by Ors w/preprinted "TIN" only Domestic purchases of goods supported by invoices with preprinted "TIN" only Domestic purchases of goods supported by VAT invoices with no "TIN" Domestic purchases of services supported by Ors with zero rated "TIN" Unaccounted Input VAT for Domestic purchases of services Unaccounted Input VAT for Domestic purchases of goods Domestic purchases of services and goods with No available supporting documents Importation of goods with no available supporting documents TOTAL 21 6,263.67 1,697.82 9,090.91 139.82 2,625.00 717.97 1,416.22 2,603.31 155,528.22 72,447.00 p 348,163.67 Considering that petitioner's input VAT claim for the first quarter of 2005 had already prescribed, the claimed input VAT amounting to Pl8,738,140.02 for the first quarter should totally be deducted. Likewise, the Court also finds that the input VAT claim should be further decreased by P4,098,113.50 (Annexes "A" to "C" of this Decision), for claims supported by VAT official receipts and invoices, but which had already prescribed or are outside the period of claim, thus: Type of Input VAT Annex Input VAT First Quarter p 18,738,140.02 Second Quarter Input VAT on purchases of services A 140,767.08 Input VAT on purchases of goods A-1 2,605,989.48 Input VAT on importations A-2 835,143.00 Third Quarter B Input VAT on purchases of services 9,379:5o Input VAT on purchases of goods 27,186.87 Input VAT on importations 136,930.00 aJ 403

October Input VAT on purchases of services Input VAT on purchases of goods Input VAT on importations TOTAL (Additional Disallowance) 22 c 314,172.30 227.27 28,318.00 p 22,836,253.52 Based on the foregoing, out of petitioner's claimed input VAT of P103,588,530.59, only the amount of P80,404,113.40 has been duly substantiated, in accordance with Sections 110(A) and 113{A) of the NIRC of 1997, as amended, and as implemented by Sections 4.104-5 and 4.108-1 of Revenue Regulations No. 7-95, broken down as follows: Claimed input VAT P1 03,588,530.59 Less:

Disallowances Per ICPA 348,163.67 Per Court's verification 22,836,253.52 23,184,417.19 Valid input VAT P80,404,113.40 Fourth Requisite:

Input taxes were not applied against any output VAT liability As regards the fourth requisite, a perusal of petitioner's Quarterly VAT Returns for the second and third quarters of 2005 and the month of October 2005 {Exhibits "D", "E", and "!'') shows that petitioner incurred an output tax liability amounting to P218,935.35. However, records show that such output tax has not yet been deducted from petitioner's claim. Such output tax should be offset against the substantiated input VAT of P80,404,113.40.

Thus, only the net input VAT in the amount of 40 4 ' '

23 P80,185,178.05 IS unutilized or unapplied, as of the fourth quarter of 2005.

Moreover, the substantiated claim ofP80,185,178.05 forms part of the P206,891,1 58.45 (Pl03,302,627.88 for C.T.A. Case No. 7470 and Pl03,588,530.59 for the instant case) input VAT deducted as "Any VAT Refund/TCC Claimed" in the Quarterly VAT Return for the fourth quarter of 2005 (Exhibit "G"). Consequently, records show that the claimed input VAT was no longer carried over to the succeeding quarters of 2006 and 2007 (Exhibits "MM" to "SS''). This means that the substantiated claim of P80, 185,178.05 can no longer be used as credit against petitioner's future output VAT liability. For all the foregoing, the Court finds that petitioner is entitled to a refund or issuance of a Tax Credit Certificate representing unutilized input VAT attributable to zero-rated sales for the second and third quarters and the month of October of taxable year 2005, but in the reduced amount ofP77,519,684.39, computed, as follows: Amount of Claim Less: Prescribed Claim (1st Quarter) Unprescribed Claim Less: Disallowances Per ICPA Per Court's verification Valid Input VAT 348,163.67 P1 03,588,530.59 18,738,140.02 84,850,390.57 4,098,113.50 ---~4,~44.:...:.. 6,=27 .:...:..7.:...:..

. 17~ P80,404, 113.40 UJ_ 405

Less: Output VAT Excess Input VAT Substantiated Zero-rated Sales Total Declared Zero-rated Sales Excess Input VAT REFUNDABLE EXCESS INPUT VAT Attributable to Zero-Rated Sales I X 218,935.35 p 80,185,178.05 P8,218,054,01 0.45 8,500,629,604.08 80,185,178.05 P77,519,684.39 24

WHEREFORE, premises considered, the present Petition for Review 1s PARTLY GRANTED.

Accordingly, respondent Commissioner of Internal Revenue is hereby ORDERED TO REFUND OR ISSUE A TAX CREDIT CERTIFICATE in favor of petitioner in the reduced amount of SEVENTY SEVEN MILLION FIVE

HUNDRED NINETEEN THOUSAND SIX HUNDRED EIGHTY

FOUR and 39/100 PESOS (P77,519,684.39), representing unutilized input VAT attributable to zero-rated sales for the second and third quarters and the month of October oftaxable year 2005.

WE CONCUR:

a ~~c.~~oG..., C)..

JlfANITO C. CASTANEDA,Cfu.. Associate Justice ~~A~IQUEZ Associate Justice (On Leave) ERLINDA P. UY Associate Justice 40G '''

ATTESTATION 25 I attest that the conclusions in the above Decision were reached in consultation before the cases were assigned to the writer of the opinion of the Court's Division. ~~<2 . ~~ Sl.

mANI To c . cAsTANEn~, JR. Associate Justice Chairperson CERTIFICATION Pursuant to Article VIII, Section 13 of the Constitution, and the Division Chairman's Attestation, it is hereby certified that the conclusions in the above Decision were reached in consultation before the cases were assigned to the writer of the opinion of the Court's Division. G ~- .

c~ ERNESTO D. ACOSTA Presiding Justice 407 '•'

SUMMARY OF ADDITIONAL DISALLOWANCES

FOR PRESCRIBED CLAIM OR OUTSIDE OF THE PERIOD COVERED 26

ANNEX "A"

SECOND QUARTER

Input VAT on purchases of services Exh Supplier's Name No.

OR No.

OR Date Input tax Alexander Consulting Group T-10 185 22-Mar-05 5000 Asian Cable Comm. Inc. T-29 29534 30-Mar-05 3,432.58 Cable Box Office Shows & Systems Corp. T-41 39185 31-Mar-05 ' 3,680.22 Cable Box Office Shows & Systems Corp. T-41 39185 31-Mar-05 743.52 Cargohaus T-46 2084 30-Mar-05 49.6 DHL Worldwide Express T-100 283089 30-Mar-05 442.65 Equalizer Detective &Security Agency, Inc. T-141 14638 18-Mar-05 49 Equalizer Detective &Security Agency, Inc. T-141 14638 18-Mar-05 68,729.55 Equalizer Detective &Security Agency, Inc. T-141 14638 18-Mar-05 3,681 .82 Far East Hotel Mgmt & Consultancy T-152 1478 22-Mar-05 106.91 Far East Hotel Mgmt & Consultancy T-170 13093 21-Mar-05 150 Far East Hotel Mgmt & Consultancy T-170 13093 21-Mar-05 335.45 Far East Hotel Mgmt & Consultancy T-170 13093 21-Mar-05 404 Far East Hotel Mgmt & Consultancy T-170 13093 21-Mar-05 415.68 Far East Hotel Mgmt & Consultancy T-170 13093 21-Mar-05 1 ,483.36 Far East Hotel Mgmt & Consultancy T-171 13095 21-Mar-05 15.45 Far East Hotel Mgmt & Consultancy T-172 13096 21-Mar-05 2,803.54 Far East Hotel Mgmt & Consultancy T-173 13097 21-Mar-05 1,075.64 Far East Hotel Mgmt & Consultancy T-173 13097 21-Mar-05 19.82 Far East Hotel Mgmt & Consultancy T-173 13097 21-Mar-05 851 .64 Far East Hotel Mgmt & Consultancy T-173 13097 21-Mar-05 2,417.09 Far East Hotel Mgmt & Consultancy T-174 13098 21-Mar-05 4,321 .68 FFG Ventures T-194 19174 9-Mar-05 1,626.55 Golden Age Landholdings Inc. T-228 2771 26-Jan-05 14,952.38 Me Colbys Inc T-283 1688 4-Feb-05 363.64 Me Colbys Inc T-284 34217 29-Mar-05 359.09 Newport Learning Center Inc. T-303 534 28-Feb-05 4,545.45 Ocean Link Container Terminals Center T-314 150124 22-Mar-05 1,715.46 Ocean Link Container Terminals Center T-314 150124 22-Mar-05 885.96 Ocean Perch Multibless Enterprises T-315 2520 · 30-Mar-05 3,454.55 Ocean Perch Multibless Enterprises T-316 2521 30-Mar-05 1,723.64 Peoples Air Cargo T-328 591005 21-Jan-05 84.15 Peoples Air Cargo T-329 618052 7-Mar-05 160.06 uJ 408

Peoples Air Cargo Peoples Air Cargo Peoples Air Cargo Peoples Air Cargo Peoples Air Cargo Peoples Air Cargo Peoples Air Cargo Philgerma Manufacturing Inc PLOT Philippine Port Authority RS Enterprises & Mill Supply Villa Jireh resort/Hotel Villa Jireh resort/Hotel Toyota Dagupan City Inc. Input VAT on purchases of goods Supplier's Name Abstract Industrial Sales Access Frontier Technologies Inc Ace Diesel Parts Supply Ace Diesel Parts Supply Ace Diesel Parts Supply Ace Diesel Parts Supply Achiever's Sales Corp Arnzen lndustires Inc Andison Industrial Sales Inc Armidale Chemical Industrial Corp Armidale Chemical Industrial Corp Assisstco Energy and Industrial Corp Atom Merchandising Atom Merchandising Atom Merchandising Atom Merchandising Atom Merchandising Atom Merchandising Atom Merchandising Atom Merchandising Atom Merchandising Atom Merchandising Atom Merchandising Atom Merchandising Atom Merchandising Atom Merchandising Atom Merchandising T-330 620363 T-331 620859 T-335 585132 T-336 592068 T-337 602454 T-338 620812 T-339 624030 T-350 3954 T-352 6459 T-364 18691256 T-396 526 T-486 2644 T-487 226 T-496 60696 Exh No.

Invoice No.

T-497 1739 T-511 3399 T-514 5849 T-515 5850 T-516 5851 T-517 5861 T-527 181544 T-537 2045 T-541 9901 T-542 8111 T-543 8131 T-551 20153 T-552 7486 T-553 7489 T-554 7527 T-555 7528 T-556 7529 T-557 7537 T-558 7544 T-559 7574 T-560 7575 T-561 7576 T-562 7577 T-563 7582 T-564 7601 T-565 7603 T-566 7604 27 1 0-Mar-05 26.02 1 0-Mar-05 36.77 12-Jan-05 133.06 21-Jan-05 86.06 9-Feb-05 47.30 10-Mar-05 38.75 16-Mar-05 303.04 30-Mar-05 863.63 31-Mar-05 7,329.10 14-Feb-05 51.94 18-Mar-05 938.18 30-Mar-05 608.43 30-Mar-05 187.77 15-Mar-05 36.90 TOTAL 140,767.08 Invoice Date Input tax 1 0-Mar-05 1,320.00 1-Mar-05 615.98 17-Mar-05 265.00 17-Mar-05 190.00 18-Mar-05 16,800.00 31-Mar-05 900.00 21-Mar-05 1,454.55 29-Mar-05 1,302.00 16-Mar-05 504.55 9-Mar-05 27,090.91 31-Mar-05 27,090.91 27-Jan-05 3,050.00 7-Jan-05 3,999.68 7-Jan-05 1,990.97 17-Jan-05 36.36 17 -Jan-05 36.00 17-Jan-05 327.27 19-Jan-05 681 .82 20-Jan-05 256.20 28-Jan-05 509.50 28-Jan-05 665.00 28-Jan-05 890.00 28-Jan-05 1,668.68 28-Jan-05 1,907.29 1-Feb-05 298.00 1-Feb-05 926.91 1-Feb-05 700.00 [t{4o9

Atom Merchandising Atom Merchandising Atom Merchandising Atom Merchandising Atom Merchandising Atom Merchandising Atom Merchandising Atom Merchandising Atom Merchandising Atom Merchandising Atom Merchandising Atom Merchandising Atom Merchandising Atom Merchandising Atom Merchandising Atom Merchandising Atom Merchandising Atom Merchandising Atom Merchandising Atom Merchandising Atom Merchandising Atom Merchandising Atom Merchandising Atom Merchandising Atom Merchandising Atom Merchandising Atom Merchandising Atom Merchandising Atom Merchandising Atom Merchandising Atom Merchandising Atom Merchandising Atom Merchandising Atom Merchandising Atom Merchandising Atom Merchandising Bearing Center & Machinery Inc. Bearing Center & Machinery Inc. Bearing Center & Machinery Inc. Bearing Center & Machinery Inc. Bearing Center & Machinery Inc. Bearing Center & Machinery Inc. Bearing Center & Machinery Inc. Belman Laboratories Bend's Marketing BfiF Corporation Bitstop Inc.

Bitstop Inc.

Bitstop Inc.

Brownstone Asia Tech Inc T-567 7616 T-568 7617 T-569 7620 T-570 7621 T-571 7622 T-572 7623 T-573 7644 T-574 7646 T-575 7659 T-576 7660 T-577 7662 T-578 7663 T-579 7664 T-580 7665 T-581 7666 T-582 7667 T-583 7668 T-584 7669 T-585 7686 T-586 7687 T-587 7688 T-588 7751 T-589 7752 T-590 7753 T-591 7814 T-592 7815 T-593 7816 T-594 7830 T-595 7831 T-596 7833 T-597 7834 T-598 7836 T-599 7837 T-600 7851 T-601 7857 T-619 149743 T-623 42363 T-624 42364 T-625 42739 T-626 42740 T-627 42741 T-628 42742 T-629 42743 T-641 329211 T-647 252 T-648 59462 T-649 20441 T-650 20670 T-651 20755 T-657 2067 28 3-Feb-05 950.00 3-Feb-05 81.82 · 7-Feb-05 228.00 7-Feb-05 115.91 7-Feb-05 130.00 7-Feb-05 2,308.50 1 0-Feb-05 170.00 1 0-Feb-05 229.64 15-Feb-05 52.36 15-Feb-05 28.36 15-Feb-05 126.00 15-Feb-05 1,500.00 15-Feb-05 76.36 15-Feb-05 38.18 15-Feb-05 3,600.00 15-Feb-05 3,560.00 15-Feb-05 189.09 15-Feb-05 340.00 18-Feb-05 1,389.68 18-Feb-05 50.00 18-Feb-05 172.80 3-Mar-05 1,237.68 3-Mar-05 691.20 3-Mar-05 818.18 18-Mar-05 637.09 18-Mar-05 230.00 18-Mar-05 2,293.18 23-Mar-05 1,120.00 23-Mar-05 516.00 23-Mar-05 1,003.64 23-Mar-05 883.64 23-Mar-05 1,263.45 23-Mar-05 3,612.48 30-Mar-05 6,042.40 31-Mar-05 552.00 3-Feb-05 619.27 1 0-Mar-05 74.00 1 0-Mar-05 230.85 22-Mar-05 156.80 22-Mar-05 697.70 22-Mar-05 1,868.93 22-Mar-05 948.07 22-Mar-05 6,737.32 1 0-Mar-05 113,545.45 17-Mar-05 5,909.09 1 0-Mar-05 1,954.55 24-Feb-05 890.91 1 0-Mar-05 2,181.82 1 0-Mar-05 73.64 9-Feb-05 7,669.55 t1~ 10 ' .

Burgmann Philippines inc Carried Lumber Company Inc Carried Lumber Company Inc Carried Lumber Company Inc Carried Lumber Company Inc Carried Lumber Company Inc Carried Lumber Company Inc Carried Lumber Company Inc Carried Lumber Company Inc Carried Lumber Company Inc Carried Lumber Company Inc Carried Lumber Company Inc Carried Lumber Company Inc Carried Lumber Company Inc Carried Lumber Company Inc Carried Lumber Company Inc Carried Lumber Company Inc Carried Lumber Company Inc Carried Lumber Company Inc Carried Lumber Company Inc Carried Lumber Company Inc Carried Lumber Company Inc Carried Lumber Company Inc Carried Lumber Company Inc Carried Lumber Company Inc Carried Lumber Company Inc Carried Lumber Company Inc Carried Lumber Company Inc Carried Lumber Company Inc Carried Lumber Company Inc Carried Lumber Company Inc Carried Lumber Company Inc Carried Lumber Company Inc Carried Lumber Company Inc Carried Lumber Company Inc Carried Lumber Company Inc Carried Lumber Company Inc Carried Lumber Company Inc Carried Lumber Company Inc Casipit Trading & Constrcution Corp. Casipit Trading & Constrcution Corp. Casipit Trading & Constrcution Corp. Cathay Industrial & Mill Supply Cathay Industrial & Mill Supply Cathay Industrial & Mill Supply Cathay Industrial & Mill Supply Cathay ln.dustrial & Mill Supply Cathay Industrial & Mill Supply Cathay Industrial & Mill Supply Cathay Industrial & Mill Supply T-658 T-666 T-667 T-668 T-669 T-670 T-671 T-672 T-673 T-674 T-675 T-676 T-677 T-678 T-679 T-680 T-681 T-682 T-683 T-684 T-685 T-686 T-687 T-688 T-689 T-690 T-691 T-692 T-693 T-694 T-695 T-696 T-697 T-698 T-699 T-700 T-701 T-702 T-703 T-740 T-741 T-742 T-745 T-746 T-747 T-748 T-749 T-750 T-751 T-752 6482 13366 13366 13367 13380 13381 13399 13409 13410 13420 13431 13432 13433 13453 13455 13456 13457 13458 13459 13460 13461 13462 13463 13464 13465 13466 13467 13468 13472 13473 13477 13478 13479 13480 13491 13492 13493 13496 13499 1294 1295 1296 63727 63981 63982 63985 63986 63987 63988 64006 29 28-Jan-05 101,400.00 18-Feb-05 572.73 18-Feb-05 1,827.91 18-Feb-05 1,795.45 24-Feb-05 272.73 24-Feb-05 294.55 1-Mar-05 136.36 4-Mar-05 1,206.82 4-Mar-05 2,974.09 7-Mar-05 395.35 9-Mar-05 1,879.55 1 0-Mar-05 2,694.55 15-Mar-05 2,154.55 15-Mar-05 440.91 15-Mar-05 422.73 15-Mar-05 422.73 15-Mar-05 422.73 15-Mar-05 404.55 15-Mar-05 202.27 15-Mar-05 422.73 15-Mar-05 422.73 15-Mar-05 422.73 15-Mar-05 422.73 15-Mar-05 422.73 15-Mar-05 404.55 15-Mar-05 404.55 15-Mar-05 202.27 15-Mar-05 10,181.82 16-Mar-05 6,000.00 16-Mar-05 4,745.45 16-Mar-05 1,962.73 17-Mar-05 4,500.00 16-Mar-05 237.27 16-Mar-05 409.09 18-Mar-05 229 09 18-Mar-05 4,636.36 18-Mar-05 718.18 19-Mar-05 227.27 21-Mar-05 18,416.36 16-Feb-05 98.18 8-Mar-05 181 .82 8-Mar-05 1,227.27 28-Feb-05 45,368.00 22-Mar-05 81,000 00 22-Mar-05 6,930.00 22-Mar-05 45,368.00 22-Mar-05 10,500.00 22-Mar-05 45,368.00 22-Mar-05 45,368.00 28-Mar-05 69.00

Cathay Industrial & Mill Supply Chem Alloy Resources Inc Chern Alloy Resources Inc Chem Alloy Resources Inc Chem Alloy Resources Inc Civic Merchandising Inc Civic Merchandising Inc Civic Merchandising Inc Civic Merchandising Inc Civic Merchandising Inc Civic Merchandising Inc Columbia Technologies Inc Columbia Technologies Inc Columbia Technologies Inc Columbia Technologies Inc Computrends Systems technology Inc. Computrends Systems technology Inc. Computrends Systems technology Inc. Computrends Systems technology Inc. Consolidated Industrial Gases Inc. Consolidated Industrial Gases Inc. Consolidated Industrial Gases Inc. Consolidated Industrial Gases Inc. Consolidated Industrial Gases Inc. Consolidated Industrial Gases Inc. Consolidated Industrial Gases Inc. Consolidated Industrial Gases Inc. Consolidated Industrial Gases Inc. Consolidated Industrial Gases Inc. Consolidated Industrial Gases Inc. Consolidated Industrial Gases Inc. Consolidated Industrial Gases Inc. Consolidated Industrial Gases Inc. Core Automotive Resources Inc. Core Automotive Resources Inc. Core Automotive Resources Inc. Core Automotive Resources Inc. Core Automotive Resources Inc. Core Automotive Resources Inc. Csl Supermarket Inc CSI Warehouse Club Inc CSI Warehouse Club Inc Cysco Green Inc.

Datuin Machine Works Delta Hardware Inc Delta Hardware Inc Delta Hardware Inc Delta Hardware Inc Digital Micro International Corp Dotcom, Inc T-753 64053 T-796 2808 T-797 2809 T-798 2835 T-799 2836 T-802 34961 T-808 34825 T-809 34842 T-810 34997 T-811 34998 T-812 35000 T-820 36624 T-821 36602 T-822 36603 T-823 36627 T-830 15712 T-831 15726 T-832 15683 T-833 15734 T-839 11224 T-840 11282 T-841 11293 T-842 11311 T-843 11262 T-844 11263 T-845 11527 T-846 11528 T-847 11427 T-848 11428 T-849 11445 T-850 11570 T-851 11600 T-860 11371 T-861 10283 T-861 10283 T-862 10287 T-863 10287 T-864 10288 T-865 10288 T-868 72297 T-869 273645 T-870 294087 T-874 10149 T-876 8760 T-877 55078 T-878 55097 T-884 55098 T-885 55127 T-894 1646 T-898 2331 30 31-Mar-05 787.50 16-Mar-05 4,375.38 16-Mar-05 4,375.38 17-Mar-05 2,179.60 17-Mar-05 199.60 23-Mar-05 360.00 8-Mar-05 6,240.00 10-Mar-05 89,188.70 31-Mar-05 32,730.27 31-Mar-05 15,170.73 31-Mar-05 42,470.00 3-Mar-05 45,700.00 21-Mar-05 11 ,850.00 28-Mar-05 11 ,850.00 29-Mar-05 11 ,022.73 14-Mar-05 2,309.50 17-Mar-05 276.00 3-Mar-05 1,290.00 21-Mar-05 25,140.00 8-Jan-05 1,079.82 19-Jan-05 1,216.36 25-Jan-05 735.45 25-Jan-05 1,216.36 15-Jan-05 1,254.36 15-Jan-05 236.36 7-Mar-05 1,665.45 7-Mar-05 934.55 15-Feb-05 1,248.18 15-Feb-05 1,106.36 17-Feb-05 375.45 15-Mar-05 972.73 21-Mar-05 1,804.00 3-Feb-05 5,413.64 31-Mar-05 78,636.37 31-Mar-05 -6,454.55 31-Mar-05 78,636.36 31-Mar-05 -6,454.55 31-Mar-05 78,636.36 31-Mar-05 -6,454.55 4-Mar-05 43.55 3-Feb-05 631.56 6-Mar-05 188.77 18-Mar-05 2,370.91 21-Feb-05 454.55 9-Mar-05 1,650.00 16-Mar-05 2!650.00 16-Mar-05 82.00 29-Mar-05 3,840.00 14-Mar-05 5,500.00 12-Jan-05 325.45 41 2 ~

Dotcom, Inc Eaglestar Industrial Sales Corp Eaglestar Industrial Sales Corp Edsar Corporation Edsar Corporation Escarda's trading Eurotech Resources Corporation Famous Electrical and Constrcution Supply Famous Electrical and Constrcution Supply Famous Electrical and Constrcution Supply Famous Electrical and Constrcution Supply Famous Electrical and Constrcution Supply Famous Electrical and Constrcution Supply Famous Electrical and Constrcution Supply Famous Electrical and Constrcution Supply Famous Electrical and Constrcution Supply Famous Electrical and Constrcution Supply Famous Electrical and Constrcution Supply Famous Electrical and Constrcution Supply Famous Electrical and Constrcution Supply Famous Electrical and Constrcution Supply Famous Electrical and Constrcution Supply Famous Electrical and Constrcution Supply Famous Electrical and Constrcution Supply Famous Electrical and Constrcution Supply Far East Hotel Mgmt & Consultancy Inc. Far East Hotel Mgmt & Consultancy Inc. Far East Hotel Mgmt & Consultancy Inc. Far East Hotel Mgmt & Consultancy Inc. Far East Hotel Mgmt & Consultancy Inc. Far East Hotel Mgmt & Consultancy Inc. Far East Hotel Mgmt & Consultancy Inc. Far East Hotel Mgmt & Consultancy Inc. Far East Hotel Mgmt & Consultancy Inc. FH Commercial Inc FH Commercial Inc FH Commercial Inc FH Commercial Inc FH Commercial Inc FH Commercial Inc FH Commercial Inc FH Commercial Inc Filemix Systems & Services Inc Forza Kemika Ag. Inc General Instrument Corporation Gilbilt Industrial Marketing GLJ Safety and Industrial Sales Inc. GLJ Safety and Industrial Sales Inc. GLJ Safety and Industrial Sales Inc. GLJ Safety and Industrial Sales Inc. T-899 2332 T-901 31052 T-902 31056 T-916 2248 T-917 2249 T-923 1393 T-927 4884 T-932 108555 T-933 108557 T-934 108559 T-935 108561 T-936 108563 T-937 108565 T-938 108567 T-939 108569 T-940 108571 T-941 108573 T-942 108575 T-943 108577 T-944 108579 T-945 108581 T-945 108583 T-946 108585 T-947 108587 T-948 108587

T-1 036

5675 T-1037 5676 T-1038 5776

T-1 039

5788 T-1040 5756

T-1 041

5759 T-1042 5760 T-1043 5763

T-1 044

5823

T-1 055

20372

T-1 056

20442

T-1 057

20523

T-1 058

20524 T-1059 20530 T-1063 20474 T-1064 20604 T-1065 20605 T-1067 667 T-1069 10750 T-1072 40 T-1074 9970

T-1 076

789 T-1077 790 T-1077 790 T-1078 791 31 12-Jan-05 650.91 14-Mar-05 680.00 17-Mar-05 600.00 17-Mar-05 681 .82 17-Mar-05 8,636.36 28-Mar-05 1,590.91 15-Mar-05 197.50 23-Mar-05 2,050.00 23-Mar-05 2,452.00 23-Mar-05 490.00 23-Mar-05 200.00 23-Mar-05 1,610.00 23-Mar-05 455.40 23-Mar-05 1,763.00 23-Mar-05 711.40 23-Mar-05 400.00 23-Mar-05 742.80 23-Mar-05 238.00 23-Mar-05 759.00 23-Mar-05 19,605.00 28-Mar-05 815.00 28-Mar-05 28,710.00 28-Mar-05 12,275.00 29-Mar-05 440.00 30-Mar-05 2,680.50 7-Feb-05 2,884.10 7-Feb-05 1,527.27 31-Mar-05 152.73 31-Mar-05 1,527.27 12-Mar-05 1,527.27 1-Feb-05 1,384.09 2-Mar-05 458.18 12-Mar-05 1,094.09 31-Mar-05 131.45 24-Jan-05 7,272.73 8-Feb-05 3,860.50 21-Feb-05 464.00 21-Feb-05 2,413.90 21-Feb-05 1,020.00 15-Feb-05 372.80 9-Mar-05 3,600.00 15-Mar-05 10,181 .82 8-Mar-05 3,732.20 16-Mar-05 262.50 30-Mar-05 4,090.91 4-Mar-05 249.75 1-Mar-05 138.00 19-Feb-05 150.55 19-Feb-05 602.18 19-Feb-05 917.73 ~lJr~ v

GLJ Safety and Industrial Sales Inc. GLJ Safety and Industrial Sales Inc. GLJ Safety and Industrial Sales Inc. GLJ Safety and Industrial Sales Inc. GLJ Safety and Industrial Sales Inc. GLJ Safety and Industrial Sales Inc. GLJ Safety and Industrial Sales Inc. GLJ Safety and Industrial Sales Inc. GLJ Safety and Industrial Sales Inc. GLJ Safety and Industrial Sales Inc. GNS Tire & Service Center Inc. GNS Tire & Service Center Inc. GNS Tire & Service Center Inc. GNS Tire & Service Center Inc. GNS Tire & Service Center Inc. GNS Tire & Service Center Inc. GNS Tire & Service Center Inc. GNS Tire & Service Center Inc. GNS Tire & Service Center Inc. GNS Tire & Service Center Inc. Gomar Industrial Sales Gryke Scientific Instruments trading Gryke Scientific Instruments trading Hydrauking Industrial Corp Infinity Industrial Sales Corp Infinity Industrial Sales Corp Infinity Industrial Sales Corp Infinity Industrial Sales Corp Infinity Industrial Sales Corp Infinity Industrial Sales Corp Infinity Industrial Sales Corp Infinity Industrial Sales Corp Infinity Industrial Sales Corp Infinity Industrial Sales Corp JRB Paint Center/Ref Aircon & Elec Supply JRB Paint Center/Ref Aircon & Elec Supply JRB Paint Center/Ref Aircon & Elec Supply JRB Paint Center/Ref Aircon & Elec Supply JRB Paint Center/Ref Aircon & Elec Supply JRB Paint Center/Ref Aircon & Elec Supply JRB Paint Center/Ref Aircon & Elec Supply JRB Paint Center/Ref Aircon & Elec Supply John Dave Construction & Supply & Gen mdse John Dave Construction & Supply & Gen mdse John Dave Construction & Supply & Gen mdse John Dave Construction & S~pply & Gen mdse John Dave Construction & Supply & Gen mdse John Dave Construction & Supply & Gen mdse Juneau Industrial Corp Juneau Industrial Corp

T-1 079

793

T-1 080

793

T-1 081

803

T-1 082

810 T-1083 811 T-1084 815 T-1085 819 T-1086 823

T-1 089

824 T-1090 825 T-1104 3139

T-11 05

3140 T-1106 3141 T-1107 3323

T-11 08

3350

T-11 09

3005 T-1110 3383 T-1111 3464 ·T-1112 3470 T-1115 3471 T-1129 203 T-1132 401 T-1133 403 T-1141 2346 T-1144 88929 T-1145 89994 T-1146 90501 T-1147 90616 T-1148 90680 T-1149 90697 T-1150 90829 T-1151 ·91109 T-1152 91110 T-1153 91116 T-1176 32947 T-1177 32948 T-1178 32950 T-1185 32944 T-1189 32941 T-1190 34501 T-1191 34505 T-1192 34509 T-1198 111 T-1199 114 T-1200 157 T-1201 115 T-1202 159 T-1203 160 T-1215 71607 T-1216 71723 32 19-Feb-05 168.75 19-Feb-05 1,434.65 2-Mar-05 201 .82 10-Mar-05 121 .82 1 0-Mar-05 752.73 16-Mar-05 127.27 16-Mar-05 577.82 30-Mar-05 396.36 30-Mar-05 13.64 30-Mar-05 627.27 23-Feb-05 2,159.09 23-Feb-05 30.91 23-Feb-05 2,354.55 2-Mar-05 2,618.18 1 0-Mar-05 472.73 5-Jan-05 2,472.73 15-Mar-05 1,197.27 15-Mar-05 396.36 29-Mar-05 472.73 29-Mar-05 1,827.73 14-Mar-05 9,178.72 31-Mar-05 1,686.00 31-Mar-05 1,188.00 16-Mar-05 463.91 31-Jan-05 5,532.00 9-Mar-05 17,361 .92 11-Mar-05 9,237.20 15-Mar-05 148.20 16-Mar-05 7,482.50 17-Mar-05 6,922.00 19-Mar-05 9,794.48 29-Mar-05 37,000.00 29-Mar-05 10,976.00 30-Mar-05 12,609.60 12-Mar-05 8,570.73 12-Mar-05 3,248.81 12-Mar-05 679.55 5-Mar-05 5,468.18 24-Feb-05 616.82 12-Mar-05 490.91 18-Mar-05 514.91 22-Mar-05 3,836.91 8-Jan-05 3,127.27 1 0-Jan-05 403.64 14-Mar-05 954.55 2-Feb-05 527.27 31-Mar-05 2,269.09 31-Mar-05 14,545.45 18-Mar-05 538.01 30-Mar-05 1,789.85 41 4 ~

Junna Industrial Corp Junna Industrial Corp Junna Industrial Corp Junna Industrial Corp Junna Industrial Corp Junna Industrial Corp Junna Industrial Corp Keana Printing Services King's Engineering Sales KLG International Inc K-Lite Systems innovations Inc K-Lite Systems innovations Inc K-Lite Systems innovations Inc Komstak Incorporated Komstak Incorporated Le Price International Corp Mabuhay vinyl Corp Machinery Reliability Systems Inc. Machinery Reliability Systems Inc. Machinery Reliability Systems Inc. Machinery Reliability Systems Inc. Magiclub Inc.

Mhe-demag (P) Inc Monark Equipment Corporation Monark Equipment Corporation Monark Equipment Corporation Monark Equipment Corporation Monark Equipment Corporation Monark Equipment Corporation Monark Equipment Corporation Monark Equipment Corporation Monark Equipment Corporation Motorplaza Inc Motorplaza Inc Motorplaza Inc Motorplaza Inc Motorplaza Inc Motorplaza Inc Motorplaza Inc Motorplaza Inc Motorplaza Inc Motorplaza Inc Motorplaza Inc Motorplaza Inc Motorplaza Inc Motorplaza Inc Motorplaza Inc Motorplaza Inc Multisystem Industrial Sales & Services Inc Multisystem Industrial Sales & Services Inc T-1217 57978

T -1218

57992 T-1219 58027 T-1220 58049 T-1221 58076 T-1222 58081 T-1223 58138 T-1233 1081 T-1238 2916 T-1242 10320 T-1243 794 T-1244 795 T-1245 796 Tc1247 28645 T-1248 28681 T-1253 4985 T-1277 216177 T-1279 58 T-1280 59 T-1281 60 T-1282 61 T-1287 2958 T-1292 13158 T-1293 ps180000666 T-1294 ps1800006678 T-1294 ps180000690 T-1295 ps180000691 T-1298 ps180000697 T-1299 ps180000698 T-1300 ps180000700 T-1301 ps180000715 T-1302 ps180000716 T-1312 40543 T-1313 40544 T-1314 40545 T-1315 40330 T-1316 40331 T-1317 40178 T-1318 40179 T-1319 40182 T-1320 40183 T-1321 40205 T-1322 40655 T-1323 41107 T-1325 139457 T-1326 41101 T-1327 41102 T-1330 41108 T-1331 8955

T-1 332

8979 33 15-Feb-05 3,604.30 21-Feb-05 1,470.00 28-Feb-05 575.00 7-Mar-05 23,957.40 11-Mar-05 688.50 12-Mar-05 8,541 .00 30-Mar-05 295.20 7-Mar-05 202.73 4-Mar-05 19,073.51 14-Mar-05 216.00 22-Mar-05 1,162.00 22-Mar-05 1,746.00 22-Mar-05 1,800.00 21-Mar-05 89.00 30-Mar-05 1,270.78 18-Mar-05 25,207.90 30-Nov-04 13,883.37 4-Mar-05 3,773.52 4-Mar-05 3,041.28 4-Mar-05 628.92 4-Mar-05 628.92 4-Mar-05 67.26 18-Mar-05 2,914.90 28-Feb-05 3,780.55 7-Mar-05 1,262.73 16-Mar-05 307.18 16-Mar-05 1,347.82 18-Mar-05 567.64 18-Mar-05 408.36 22-Mar-05 810.36 30-Mar-05 11,230.82 30-Mar-05 915.27 11-Mar-05 225.45 11-Mar-05 146.36 11-Mar-05 751 .36 11-Feb-05 270.00 11-Feb-05 270.00 27-Jan-05 183.64 27-Jan-05 968.18 27-Jan-05 80.45 27-Jan-05 1,875.45 28-Jan-05 751 .36 28,-Mar-05 120.45 28-Mar-05 504.54 21-Mar-05 636.82 28-Mar-05 11 8.18 28-Mar-05 2,690.91 28-Mar-05 305.45 2-Mar-05 2,867.94 14-Mar-05 11 6.50 41~

Newburg Commercial Inc Newburg Commercial Inc Newburg Commercial Inc Newburg Commercial Inc Newburg Commercial Inc Newburg Commercial Inc Newburg Commercial Inc Newburg Commercial Inc Newburg Commercial Inc Newburg Commercial Inc Newburg Commercial Inc Newburg Commercial Inc Newburg Commercial Inc Newburg Commercial Inc Newton Electrical Equipment Company, Inc. Newton Electrical Equipment Company, Inc. Newtrends International Corporation Norvic Drugs Corporation Norvic Drugs Corporation Norvic Drugs Corporation Norvic Drugs Corporation Norvic Drugs Corporation Norvic Drugs Corporation Norvic Drugs Corporation OSA Industries Phils., Inc. OSA Industries Phils., Inc. Peridot Parts Sales & Supply PG Scientific & Medical Supply Philgerma Manufacturing Inc. Philgerma Manufacturing Inc. Philippine Packings & Seals Corporation Pilipinas Shell Petroleum Corp Pilipinas Shell Petroleum Corp Pilipinas Shell Petroleum Corp Pilipinas Shell Petroleum Corp Pilipinas Shell Petroleum Corp Pilipinas Shell Petroleum Corp Pilipinas Shell Petroleum Corp Pilipinas Shell Petroleum Corp Pilipinas Shell Petroleum Corp Pilipinas Shell Petroleum Corp Pilipinas Shell Petroleum Corp Pillars Rtw & Gen. Mdse. Pinnacle Parts Company Inc. Pinnacle Parts Company Inc. Pinnacle Parts Company Inc. Pinnacle Parts Company Inc. Power and Industrial Equipment Sales and Aftermarket Services, Inc. Rojemson Chemical & Industrial Corporation T-1341 42080 T-1342 42081 T-1343 42075 T-1344 42076 T-1345 42077 T-1346 42078 T-1363 42079 T-1364 42082 T-1365 42120 T-1366 42121 T-1367 42122 T-1368 42123 T-1369 42124 T-1370 42125 T-1383 4024 T-1385 4025 T-1386 11009 T-1395 5310 T-1396 5311 T-1397 5312 T-1398 5313 T-1399 5323 T-1401 4015 T-1402 4016 T-1411 2984 T-1412 2979 T-1415 2317 T-1423 2539 T-1426 5263 T-1431 5264 T-1434 3055 T-1448 912671307 T-1450 912641095 T-1451 912641097 T-1452 912641100 T-1453 912662334 T-1454 912671301 T-1455 912671303 T-1456 912671303A T-1457 912671373 T-1458 912671375 T-1459 912671376 T-1461 9893 T-1462 12444 T-1463 12447 T-1464 12463 T-1465 12474 T-1481 581 T-1509 9534 34 21-Mar-05 445.50 21-Mar-05 1,394.85 4-Mar-05 44.60 14-Mar-05 795.75 15-Mar-05 123.57 15-Mar-05 150.49 15-Mar-05 272.46 21-Mar-05 1,861 .37 23-Mar-05 504.12 23-Mar-05 97.36 23-Mar-05 2,286.90 28-Mar-05 706.30 28-Mar-05 184.47 28-Mar-05 604.12 31-Mar-05 500.00 31-Mar-05 2,200.00 18-Feb-05 19,748.18 1-Mar-05 3,767.55 1-Mar-05 2,894.80 1-Mar-05 2,183.57 1-Mar-05 1,372.64 4-Mar-05 1,158.86 5-Jan-05 1,252.14 5-Jan-05 330.91 11-Jan-05 4,500.00 11-Jan-05 11 ,700.00 7-Mar-05 138.00 14-Mar-05 209.45 14-Mar-05 1,272.73 16-Mar-05 2,727.27 11-Mar-05 605.00 30-Mar-05 10,298.46 28-Feb-05 1,163.08 28-Feb-05 1,163.08 28-Feb-05 71,201 .73 21-Mar-05 6,931.78 30-Mar-05 27,952.97 30-Mar-05 4,413.63 30-Mar-05 4,838.58 30-Mar-05 84,669.11 30-Mar-05 11 ,205.28 30-Mar-05 7,356.05 6-Mar-05 68.18 16-Mar-05 1,496.00 16-Mar-05 1,720.00 22-Mar-05 5,950.00 31-Mar-05 3,980.00 14-Feb-05 1,420.00 16-Mar-05 6,796.82 41~

Rojemson Chemical & Industrial Corporation Royal Jade Machinery Phils., Corp. RS Components Limited (Phils.) RS Components Limited (Phils.) RS Components Limited (Phils.) RS Components Limited (Phils.) RS Components Limited (Phils.) RS Components Limited (Phils.) RS Components Limited (Phils.) RS Components Limited (Phils.) RS Enterprises & Mill Supply RS Enterprises & Mill Supply RS Enterprises & Mill Supply RS Enterprises & Mill Supply RS Enterprises & Mill Supply S.K. Hardware & Gen. Merchandise S.K. Hardware & Gen. Merchandise S.K. Hardware & Gen. Merchandise S.K. Hardware & Gen. Merchandise S.K. Hardware & Gen. Merchandise S.K. Hardware & Gen. Merchandise S.K. Hardware & Gen. Merchandise S.K. Hardware & Gen. Merchandise S.K. Hardware & Gen. Merchandise S.K. Hardware & Gen. Merchandise S.K. Hardware & Gen. Merchandise S.K. Hardware & Gen. Merchandise S.K. Hardware & Gen. Merchandise S.K. Hardware & Gen. Merchandise S.K. Hardware & Gen. Merchandise S.K. Hardware & Gen. Merchandise S.K. Hardware & Gen. Merchandise S.K. Hardware & Gen. Merchandise S.K. Hardware & Gen. Merchandise S.K. Hardware & Gen. Merchandise S.K. Hardware & Gen. Merchandise S.K. Hardware & Gen. Merchandise S.K. Hardware & Gen. Merchandise S.K. Hardware & Gen. Merchandise S.K. Hardware & Gen. Merchandise S.K. Hardware & General Merchandise S.K. Hardware & General Merchandise S.K. H9rdware & General Merchandise Severo Sy Ling, Inc.

Simplex Industrial Corporation Simplex Industrial Corporation Simplex Industrial Corporation Simplex Industrial Corporation Simpson's Philippines, Incorporated Sky Computer and Office Supplies T-1510 9579 T-1516 12306 T-1518 22689 Rl T-1519 22475 Rl T-1520 23307 Rl T-1521 23653 Rl T-1522 21926 Rl T-1523 22296 Rl T-1524 22567 Rl T-1525 22635 Rl T-1526 1661 T-1527 1660 T-1528 1663 T-1529 1662 T-1534 1664 T-1543 12490 T-1544 12496 T-1545 12497 T-1546 12498 T-1547 12501 T-1548 12502 T-1549 12506 T-1550 12507 T-1551 12508 T-1552 12509 T-1553 12510 T-1554 12526 T-1555 12545 T-1556 12563 T-1557 12564 T-1558 12565 T-1559 12567 T-1560 12569 T-1561 12570 T-1562 12572 T-1563 12566 T-1564 12568 T-1565 12571 T-1566 12573 T-1569 12618 T-1593 12406 T-1594 12546 T-1595 12615 T-1606 103423 T-1612 120452

T-161 3

121277 T-1614 118921 T-1615 121276

T-161 6

1270 T-1617 85757 35 22-Mar-95 6,760.91 21 -Mar-05 72,464.17 7-Feb-05 2,829.43 31-Jan-05 2,389.63 22-Feb-05 1,183.89 2-Mar-05 246.36 19-Jan-05 291 .56 27 -Jan-05 995.94 3-Feb-05 561 .22 5-Feb-05 280.61 26-Feb-05 5,000.00 9-Feb-05 872.73 15-Mar-05 4,836.00 1 0-Mar-05 581.82 29-Mar-05 229.09 18-Feb-05 743.64 23-Feb-05 63.64 23-Feb-05 221 .82 23-Feb-05 163.75· 23-Feb-05 763.64 23-Feb-05 1,908.93 23-Feb-05 101 .82 23-Feb-05 203.64 23-Feb-05 80.91 23-Feb-05 304.36 23-Feb-05 170.00 9-Mar-05 108.64 9-Mar-05 1,795.00 9-Mar-05 59.09 9-Mar-05 65.45 9-Mar-05 54.55 9-Mar-05 2,176.36 9-Mar-05 201 .82 9-Mar-05 87.27 9-Mar-05 100.00 9-Mar-05 3,900.00 9-Mar-05 122.73 9-Mar-05 514.55 9-Mar-05 114.91 16-Mar-05 19.09 2-Feb-05 3,456.82 9-Mar-05 163.64 16-Mar-05 12,477.27 4-Mar-05 625.60 4-Mar-05 98.64 16-Mar-05 560.00 7-Feb-05 585.45 16-Mar-05 181.82 9-Mar-05 4,520.00 17-Mar-05 63.64 ~l fr

Sky Computer and Office Supplies Sky Computer and Office Supplies Tadchem Marketing Taipan Enterprise Taipan Enterprise TCY Machinery Works Tech-Quipped Controls Trading Tech-Quipped Controls Trading Tech-Quipped Controls Trading Tech-Quipped Controls Trading The Mouse House, Inc. The Mouse House, Inc. The Mouse House, Inc. The Mouse House, Inc. Theo-Pam Trading Corporation Theo-Pam Trading Corporation Toyota Dagupan City, Incorporated Toyota Dagupan City, Incorporated Toyota Dagupan City, Incorporated Toyota Dagupan City, Incorporated Toyota Dagupan City, Incorporated Toyota Dagupan City, Incorporated Toyota Dagupan City, Incorporated Toyota Dagupan City, Incorporated Toyota Dagupan City, Incorporated Toyota Dagupan City, Incorporated Ultimate Option Gunworks & Accessories Ultrapure Chemrock Corporation Unisafe Industrial Company Unisafe Industrial Company Up-Town Industrial Sales, Inc. Up-Town Industrial Sales, Inc. Up-Town Industrial Sales, Inc. Up-Town Industrial Sales, Inc. Up-Town Industrial Sales, Inc. Up-Town Industrial Sales, Inc. Up-Town Industrial Sales, Inc. Up-Town Industrial Sales, Inc. Up-Town Industrial Sales, Inc. Up-Town Industrial Sales, Inc. Up-Town Industrial Sales, Inc. Up-Town Industrial Sales, Inc. Up-Town Industrial Sales, Inc. Up-Town Industrial Sales, Inc. Up-Town Industrial Sales, Inc. Up-Town Industrial Sales, Inc. Up-Town Industrial Sales, Inc. Up-Town Industrial Sales, Inc. Up-Town Industrial Sales, Inc. Up-Town Industrial Sales, Inc. T-1618 85905 T-1619 86321 T-1629 10 T-1635 3142 T-1636 3143 T-1648 10322 T-1653 1415 T-1654 1416 T-1655 1418 T-1656 1419 T-1671 1886 T-1672 1893 T-1673 1892 T-1674 2014 T-1675 138974 T-1676 141725 T-1684 60696 T-1685 60803 T-1686 60282· T-1687 60496 T-1688 60599 T-1689 60600 T-1690 60601 T-1691 60787 T-1693 60167 T-1694 60187 T-1696 1559 T-1697 2824 T-1701 2929 T-1702 2822 T-1714 31756 T-1715 31793 T-1716 32105 T-1727 28701 T-1728 28702 T-1729 28966 T-1730 30167 T-1731 30171 T-1732 30386 T-1733 31792 T-1734 32329 T-1735 32438 T-1736 32588 T-1737 32782 T-1738 32869 T-1739 32900 T-1740 33016 T-1741 33048 T-1742 33105 T-1743 33206 36 21-Mar-05 259.09 31-Mar-05 238.18 18-Mar-05 14,109.40 21-Mar-05 968.55 21-Mar-05 1,057.36 3-Mar-05 1,500.00 28-Mar-05 5,000.00 28-Mar-05 28,943.68 29-Mar-05 9,350.00 29-Mar-05 2,100.00 29-Jan-05 1,922.73 3-Feb-05 254.55 3-Feb-05 1,368.18 23-Mar-05 668.18 28-Mar-05 1,527.27 28-Mar-05 240.45 15-Mar-05 133.21 28-Mar-05 300.90 1-Feb-05 440.37 24-Feb-05 300.94 4-Mar,05 354.81 4-Mar-05 524.91 4-Mar-05 607.80 28-Mar-05 341.35 20-Jan-05 2,492.02 21-Jan-05 233.12 12-Feb-05 750.91 22-Mar-05 28,181.82 21-Mar-05 2,272.73 18-Feb-05 2,272.73 4-Mar-05 7,168.40 4-Mar-05 282.24 1 0-Mar-05 29,028.80 7-Jan-05 288.02 7-Jan-05 2,901 .54 12-Jan-05 21 .90 1-Feb-05 5,091.50 1-Feb-05 5,091 .50 7-Feb-05 11 ,926.00 4-Mar-05 634.00 14-Mar-05 635.00 16-Mar-05 12,012.60 17-Mar-05 497.10 21-Mar-05 2,079.00 23-Mar-05 8,361.00 23-Mar-05 46,810.00 29-Mar-05 237.00 30-Mar-05 6,897.60 30-Mar-05 5,069.50 31-Mar-05 448.26

Valley Technologies, Inc. West Point Guns & Sportswear Wise Industrial Systems, Inc. WM. H. Rennolds Company, Inc. WM. H. Rennolds Company, Inc. WM. H. Rennolds Company, Inc. WM. H. Rennolds Company, Inc. WM. H. Rennolds Company, Inc. WM. H. Rennolds Company, Inc. Worthwater Tech no logy Corporation Wyler Enterprises, Inc. Wyler Enterprises, Inc. Wyler Enterprises, Inc. Wyler Enterprises, Inc. Wyler Enterprises, Inc. Wyler Enterprises, Inc. Yana Chemodities, Inc. Yana Chemodities, Inc. Yana Chemodities, Inc. YRS Motorcycle Modifications, Inc. YRS Motorcycle Modifications, Inc. YRS Motorcycle Modifications, Inc. Zab Enterprises Zab Enterprises Zab Enterprises Zab Enterprises Zab Enterprises Zab Enterprises Zab Enterprises Zab Enterprises Zab Enterprises Zab Enterprises Zab Enterprises Zab Enterprises T-1754 T-1756 T-1765 T-1768 T-1769 T-1770 T-1771 T-1773 T-1774 T-1776 T-1778 T-1779 T-1780 T-1781 T-1784 T-1785 T-1789 T-1790 T-1791 T-1797 Tc 1799 T-1800

T-181 0

T-1811 T-1812 T-1813 T-1814 T-1815 T-1816 T-1817 T-1818 T-1819 T-1820 T-1821 Zenith Electrical & Industrial Supply Corporation T-1846 TOTAL Input VAT on importations Supplier's Name Exh No.

Entry Date Sulzer Pumps Asia Pacific T-1897 17 -Jan-05 Access Frontier tech Ptd Ltd T-1898 3-Feb-05 Emerson Process Mgmt T-1899 16-Feb-05 Wier Valve & Controls T-1900 4-Mar-05 Eletrocatalytic Products Pte Ltd T-1902 26-Feb-05 T-1903 1-Mar-05 SNRI Route Du Treuil T-1912 1 0-Mar-05 37 1148 28-Mar-05 4,136.00 12292 12-Feb-05 138.41 2093 4-Mar-05 2,577.96 17421 1-Mar-05 29,577.27 17434 5-Mar-05 4,867.57 17435 5-Mar-05 4,466.45 17507 30-Mar-05 654.55 17470 18-Mar-05 649.01 17479 12-Mar-05 12,272.73 256 29-Mar-05 4,595.46 21365 9-Mar-05 959.55 21366 9-Mar-05 2,751 .36 21414 16-Mar-05 1,254.55 21415 16-Mar-05 177.27 21309 3-Mar-05 236.36 21438 18-Mar-05 400.00 142391 4-Feb-05 330.00 144142 18-Mar-05 8,227.27 144345 29-Mar-05 6,507.00 4244 1 0-Mar-05 525.37 4242 1 0-Mar-05 952.82 6210 31-Mar-05 221 .82 20101 24-Jan-05 77.73 20468 15-Feb-05 257.54 19913 25-Jan-05 16,656.25 20590 22-Feb-05 2,414.54 20703 3-Mar-05 1,579.72 20834 10-Mar-05 4,909.09 20915 19-Mar-05 402.73 20923 19-Mar-05 277.73 20925 19-Mar-05 1,272.73 21036 22-Mar-05 626.00 21100 31-Mar-05 363.64 21101 31-Mar-05 363.64 28230 14-Jan-05 4,647.50 2,605,989.48 OR Date Input tax 19-Jan-05 40,930.00 3-Feb-05 51 ,778.00 9-Mar-05 82,270.00 15-Mar-05 77,759.00 2-Mar-05 6,641.00 9-Mar-05 9,736.00 13,682.00 419 w

Quinta Raddison Ltd Quinta Raddison Ltd Quinta Raddison Ltd Agenthur H. Willems LBP receipts BOG receipts I Total Deduction for Second Quarter T-1915 T-1876 T-1877

T-1 881

T-1882 T-1883 T-1884 T-1885 T-1891

T-1 920

T-1921

T-1 922

T-1 923

T-1 924

T-1925 T-1926 T-1927 T-1928 T-1929 T-1930 T-1931 T-1933 T-1934 T-1935 T-1938 30-Mar-05 23-Mar-05 28-Mar-05 1 0-Feb-05 9-Feb-05 8-Feb-05 15-Mar-05 9-Mar-05 28-Mar-05 Jan-05 10-Jan-05 14-Mar-05 9-Feb-05 6-Feb-05 22-Jan-05 11-Mar-05 18-Feb-05 16-Mar-05 5-Jan-05 10-Mar-05 21-Mar-05 21-Jan-05 30-Mar-05 28-Mar-05 TOTAL 38 400,458.00 26,577.00 17,163.00 5,179.00 11,110.00 11,583.00 4,055.00 20,511 .00 4,031.00 2,625.00 2,961 .00 12,573.00 323.00 697.00 2,494.00 5,265.00 3,054.00 8,609.00 2,265.00 3,540.00 100.00 2,421 .00 1,880.00 60.00 2,813.00 835,143.00 3,581 ,899.56 420

THIRD QUARTER

Input VAT on purchases of services Supplier's Name Ocean Perch Multibless Enterprises Peoples Air Cargo and Warehousing Co. Inc Philippine Skylanders Inc Philippine Skylanders Inc Pinnacle Parts Company Inc. Input VAT on purchases of goods Supplier's Name Anson Emporium Anson Emporium BCM Marketing Bitstop Inc.

Carworld Inc Carworld Inc Carworld Inc Carworld Inc Chemalloy Resources Chemalloy Resources Chemalloy Resources Dotcom Inc Dy auto Supply & Hardware Edupro Inc Nueva Fortuna Merchandising Nueva Fortuna Merchandising SK Hardware & General merchandise SK Hardware & General merchandise SK Hardware & General merchandise SK Hardware & General merchandise SK Hardware & General merchandise SK Hardware & General merchan9ise SK Hardware & General merchandise SK Hardware & General merchandise SK Hardware & General merchandise SK Hardware & General merchandise SK Hardware & General merchandise SK Hardware & General merchandise SK Hardware & General merchandise Exh No.

U-282 U-296 U-324 U-325 U-334 Exh No.

U-529 U-529 U-564 U-616 U-664 U-665 U-666 U-667 U-699 U-706 U-707 U-768 U-770 U-792 U-1215 U-1216 U-1345 U-1346 U-1347 U-1348 U-1349 U-1350 U-1351 U-1352 U-1353 U-1354 U-1355 U-1356 U-1357 39

ANNEX "B"

OR No.

OR Date Input tax 2538 24-Feb-05 3,454.55 614615 1-Mar-05 1,193.45 525633 18-Feb-05 31 .07 530615 1 0-Mar-05 40.43 2704 24-Mar-05 4,660.00 TOTAL 9,379.50 Invoice Invoice No.

Date Input tax 53663 20-Jan-05 16.37 53663 20-Jan-05 1,645.46 6719 4-Mar-05 218.55 3487 1-Feb-05 181 .82 84972 2-Jun-04 219.64 87107 6-Dec-04 1 '128.20 88319 3-Feb-05 3,157.27 88494 21-Mar-05 242.50 2826 17-Mar-05 5,229.78 2824 17-Mar-05 3,644.00 2825 17-Mar-05 728.80 2253 21-Jan-05 54.55 99450 14-Jan-05 382.50 6733 28-Mar-05 561 .81 13438 19-Jan-05 530.65 13596 21-Mar-05 50.00 12447 1 0-Feb-05 115.91 12471 16-Feb-05 306.82 12475 16-Feb-05 568.18 12574 9-Mar-05 160.00 12575 9-Mar-05 358.30 12576 9-Mar-05 378.18 12611 16-Mar-05 212.73 12612 16-Mar-05 15.91 12613 16-Mar-05 381.82 12616 16-Mar-05 1,287.49 12617 16-Mar-05 86.36 12619 16-Mar-05 150.00 12620 16-Mar-05 229.09 42 1~

SK Hardware & General merchandise SK Hardware & General merchandise SK Hardware & General merchandise SK Hardware & General merchandise SK Hardware & General merchandise SK Hardware & General merchandise SK Hardware & General merchandise SK Hardware & General merchandise Input VAT on importation of goods Supplier's Name Flower Serve Spain SA Bosch rexroth Pte Ltd Quinta Raddison Ltd.

Wiix & Hoeglund Public Co. Inc. Bosch rexroth Pte Ltd Quinta Raddison Ltd.

Total Deduction for Third Quarter U-1358 12621 U-1359 12624 U-1360 12656 U-1361 12657 U-1362 12658 U-1363 12661 U-1364 12662 U-1365 12667 Exh No.

Entry No.

U-1703 58787574 U-1695 56762912 U-1722 61241205 U-1752 58743526 U-1761 61268374 U-1788 61241205 40 16-Mar-05 3,113.64 16-Mar-05 133.09 30-Mar-05 352.18 30-Mar-05 118.18 30-Mar-05 540.91 30-Mar-05 317.09 30-Mar-05 19.09 30-Mar-05 350.00 TOTAL 27,186.87 Entry Date OR Date Input tax 2-Dec-04 3-Mar-05 6,795.00 23-Nov-04 16-Feb-05 1,738.00 22-Mar-05 22-Mar-05 240.00 16-Feb-05 16-Feb-05 93,216.00 20-Mar-05 21-Mar-05 4,238.00 22-Mar-05 21-Mar-05 30,703.00 TOTAL 136,930.00

FOR THE MONTH OF OCTOBER

Input VAT on purchases of services Supplier's Name Exh No.

Alexander Forbes Phils Risk Services Inc V-7 Gentech Construction V-101 Input VAT on purchases of goods Supplier's Name Exh No.

Consolidated Industrial Gases Inc V-361 Input VAT on importations Supplier's Name Exh No.

Emerson Process Management V-873 Mcmaster Carr V-929 Total Deduction for October OR No.

2864 30 Invoice No.

11445 Entry No.

60028412 41

ANNEX "C"

OR Date Input tax 7-Feb-05 189,890.28 9-Nov-05 124,282.02 TOTAL 314,172.30 Invoice Date Input tax 17-Feb-05 227.27 TOTAL 227.27 Entry Date OR Date Input tax 18-Feb-05 18-Feb-05 24,891.00 5-Mar-05 3,427.00 TOTAL 28,318.00 342,717.57 &» 42 3