MANULIFE DATA SERVICES, INC. v. COMMISSIONER OF INTERNAL REVENUE

REPUBLIC OF THE PHILIPPINES COURT OF TAX APPEALS Quezon City Sbecia/ Third Division J. MANULIFE DATA SERVICES, CTA CASE NO. 9126 INC., Petitio net~ -versus- Members: PABON-VICTORINO, anc.l RINGPIS-LIBAN, JJ COMMISSIONER OF INTERNAL REVENUE Promulgated: ReJpondent. ( 20 tJ x------------------------------------------------------------- ~-~---~:!:~- ~: -~-~--------x DECISION RINGPIS-LIBAN, J: The Case The case involves the Petition for Revicw1 filed by Manu lifc Data Services, Inc. to seck the refu nd or iss uance o f ta x credit certificate in the amount of SixtY 0Iillion Four Hunc.lred E ighty Thousand N ine Hundred N ineteen Pesos anc.l Eigh teen Centavos (Php60,480,919.18), allegedly rep resenting its excess and unutilizccl input value-added tax ("VAT ") for the four quarters of calendar year ("CY") 2013. The Parties P eti tioner i\fanulife Data Services, In c. ts a Regional O perating 1-lea.clquarters (RO I IQ) duly licensccl by the Securities anc.l Exchange Commission ("SEC") under SEC Certificate of Registration and License o. l�'S2006035052, issued on i\ larch 3, 2006. Tt is also registered with the Bureau of Internal Revenue ("BIR") as a VAT entity under Certi ficate of Registration No. ~ l Docket, Vol. 1, pp . 10 to 21. 2 Exh ibit " P-1", Docket, Vol. 4, p. 1735.

DECISION CTA CASE NO. 9126 OCN3RC00004216263 issued by the BIR Revenue District Office ("RDO") No. 38 on March 9, 2006. Petitioner is licensed "to engage in general administration and planning; business planning and coordination; sourcing/procurement of raw materials and components; corporate finance advisory services; marketing control and sales promotion; training and personnel management; logistic services; research and development services and product development; technical support and maintenance; data processing and communication and business development. "4 On the other hand, respondent is the duly appointed Commissioner of the Bureau of Internal Revenue who has the power to decide on disputed assessments, refunds of internal revenue taxes, fees or other charges, penalties imposed in relation thereto or other matters arising under the National Internal Revenue Code ("NIRC') of 1997, as amended, or other laws or portions thereof administered by the BIR. He holds office at the BIR National Office Building, ;\gham Road, Diliman, Quezon City. The Facts The case concerns petitioner's claim for refund or tax credit of its purported excess and unutilized input VAT for the four taxable quarters of calendar year 2013.5 Petitioner alleges that in CY 2013, it generated VAT zero-rated sales for its services to foreign clients6 and it was paid in US Dollars (USD) inwardly remitted into the Philippines 7 It claims that the VAT zero-rated sales for CY 2013 amounted to a total of Php2, 152,529,797.478, broken down as follows: 9 Taxable Period (CY Zero-Rated Sales 2013) Php 479,724,554.50 513,130,554.25 1st Quarter 561,305,225.32 2nd Quarter 598,369,463.40 3rd Quarter Php2,152,529,797.47 4th Quarter Total 3 Exhibit "P-2-a", Docket, Vol. 4, p. 1764. 4 Exhibit "P-1-c", Docket, Vol. 4, p. 1735. 5 Par. 1(b), Stipulation of Facts, Joint Stipulation of Facts and Issue (JSFI), Docket, Vol. 3, p. 1206. 6 Exhibit "P-111", Findings and Observations, Part II, !CPA Report, Docket, Vol. 3, pp. 1293- 1294. 7 Par. 9, Facts, Petition for Review, Docket, Vol. 1, p. 12. 8 Exhibits "P-6", "P-8-c", "P-9", and "P-11", Docket, Vol. 6, pp. 2779, 2783, 2785 to 2786, and 2792 to 2793. 9 Par. 9.2, Facts, Petition for Review, Docket, Vol. 1, p. 12.

DECISION CTA CASE NO. 9126 On March 30, 2015, petitioner flled with the BIR RDO No. 38 an administrative claim for refund or issuance of tax credit certificate of its alleged excess input VAT amounting to Php60,480,919.18 for the whole period of C:Y 2013_10 After the lapse of the 120-day period from the filing of the application for refund with no action from respondent and to preserve its claim for refund, petitioner filed the instant petition before this Court on August 26, 2015-' 1 In his i\nswer12 filed on October 26, 2015, respondent raised the following counter-arguments and defenses: "4. Petitioner's claim for the issuance of tax credit certificate is subject to administrative investigation/ examination by respondent's Bureau. 5. Taxes paid and collected are presumed to have been paid in accordance with law and regulations, hence, not refundable. 6. Moreover, in order to validly claim for tax credit/refund, It 1s imperative for petitioner to prove its compliance with the following, viz: a. The registration requirements of a value-added taxpayer under the pertinent provision of the National Internal Revenue Code (NIRC) of 1997, as amended, and its implementing revenue regulations. b. The invoicing and accounting requirements for VAT-registered persons, as well as the filing and payment of VAT pursuant to the provisions of Sections 113 and 114 of the 1997 NIRC, as amended. Failure to comply with the invoicing requirements on the documents supporting the sale of goods and services will result in the disallowance of the claim for input tax of the taxpayer claimant (Revenue Memorandum Circular No. 42-2003). /�' 10 Exhibit "P-3", Docket, Vol. 4, pp. 1765-1778. 11 Petition for Review, Docket, Vol. 1, pp. 10-21. 12 Docket, Vol. 1, pp. 184-187.

DECISION CTA CASE NO. 9126 c. The submission of complete documents in support of the administrative claim for tax refund pursuant to Section 112 (C) of the NIRC of 1997, as amended, otherwise, there would be no sufficient compliance with regard to the filing of administrative claim for tax credit/refund which is a condition sine qua non prior to the filing of such claim (Revenue Memorandum Circular No. 54-2014). d. That the input taxes of P60,480,919.18 allegedly representing unutilized input VAT from its domestic purchases of goods and services were: 1. paid by petitioner; 11. attributable to its zero-rated or effectively zero-rated sales; and, 111. such input taxes paid should not have been applied against any output tax. e. That petitioner's claim for tax credit/ refund allegedly representing unutilized input VAT in the amount of P60,480,919.18 was filed within two (2) years after the close of the taxable quarter when the sales were made in accordance with Section 112 (A) of the NIRC of 1997, as amended. 7. In an action for tax credit/refund, the burden of proof rests upon the taxpayer to establish by sufficient and competent evidence its entidement to a claim for tax credit/ refund. 8. It is worth emphasizing at this point that the burden of proving entidement to a tax refund is on the taxpayer. It is logical to assume that in order to discharge this burden, the law intends the filing of an application for a refund to necessarily include the filing of complete supporting documents to prove entidement for the refund. Otherwise, the mere filing of an application without any supporting document would be as good as filing a mere scrap of paper. Besides, the taxpayer was already giVen two (2) years to determine its refundable taxes and complete the documents necessary to prove its claim. The alleged completion of supporting documents after the filing of an application for an administrative claim - and worse, after the filing of a judicial claim- is tantamount to legal maneuvering, which this Court will not tolerate (Hedwr, Im: vs. Commissionerojlnterna!Revenue, G.R No. 207575,ju!J 15, 2015). ~

DECISION CTA CASE NO. 9126 9. Finally, it is a well-established rule that tax refunds, which are in the nature of tax exemptions, are construed strictly against the taxpayer and liberally in favor of the government. This is because taxes are the lifeblood of the nation. Thus, the burden of proof is upon the claimant of the tax refund to prove the factual basis of his claim (Eastern Telecommunications Philippines, Inc. vs. The Commissioner ofInternal Revenue, GR No. 168856, August 29, 2012)." A Notice of Pre-Trial Conference13 was issued by the Court, setting the case for pre-trial conference on February 2, 2016, which was cancelled and reset to March 29,201614� Hence, respondent's Pre-Trial Brief15 was filed on January 18, 2016, while petitioner's Pre-Trial Brief' 6 was filed through registered mail on March 3, 2016 and received by the Court on March 9, 2016. The pre-trial conference ensued.17 Thereafter, the parties submitted their Joint Stipulation of Facts and Issue18 on AprilS, 2016. Consequently, the Court issued a Pre-Trial Order19 on May 6, 2016 and the pre-trial was deemed terminated. Upon petitioner's motion,20 Mr. Jerome Antonio B. Constantino was commissioned by the Court on July 5, 2016 as an Independent Certified Public 1\ccountant (ICPA) and to render a report on this case21 On August 4, 2016, the ICPA issued a report22 During the trial, petitioner presented the testimomes of the following witnesses by way ofJudicial Affidavits in lieu of direct examination:23 Ms. Agnes Neria2\ Ms. Lourdes Rosario Mantarin!f5, and ICPA Jerome Antonio B. C:onstantino26 . ~ 13 Docket, Vol. 1, pp. 188-189. 14 Resolution dated January 20, 2016, Docket, Vol. 1, p. 211. 15 Docket, Vol. 1, pp. 206-209. 16 Docket, Vol. 3, pp. 1175-1197. 17 Minutes of the Hearing, March 29, 2016, Docket, Vol. 3, p. 1200. 18 Docket, Vol. 3, pp. 1206-1218. 19 Docket, Vol. 3, pp. 1240-1251. 20 Docket, Vol. 3, pp. 1155-1157. 21 Minutes of the Hearing, July 5, 2016, Docket, Vol. 3, p. 1273. 22 Exhibit "P-111", !CPA Report Part 1 and 2, Docket, Vol. 3, pp. 1286-1675. 23 Minutes of the Hearing, August 16, 2016, presentation of petitioner's witnesses, Ms. Neria and Ms. Mantaring, Docket, Vol. 4, p. 1683; Minutes of the Hearing, September 19, 2016, presentation of petitioner's witness, !CPA Constantino, Docket, Vol. 4, p. 1702 24 Exhibit "P-110", Judicial Affidavit of Ms. Agnes Neria dated March 02, 2016, Docket, Vol. 2, pp. 832-858. 25 Exhibit "P-109", Judicial Affidavit of Ms. Lourdes Rosario Mantaring dated March 2, 2016, Docket, Vol. 1, pp. 220-253; Exhibit "P-109-B", Supplemental Judicial Affidavit of Ms. Lourdes Rosario Mantaring dated March 14, 2017, Docket, Vol. 6, pp. 2529-2555. 26 Exhibit "P-112", Judicial Affidavit of !CPA Jerome Antonio Constantino dated September 14, 2016, Docket, Vol. 4, pp. 1690-1701; Exhibit "P-112-b", Judicial Affidavit of !CPA Jerome Antonio Constantino dated March 14, 2017, Docket, Vol. 6, pp. 2756-2761.

DECISION ITA CASE NO. 9126 A supplemental ICPA report'7 was later on filed by petitioner on December 22, 2016 pursuant to its motion28 dated September 28, 2016, which was granted by the Court via Resolution29 dated November 25, 2016. Petitioner filed its Formal Offer of Evidence30 and Supplemental Formal Offer of Evidence11 on September 28, 2016 and on 1\pril 10, 2017, respectively. The same were resolved by the Court on December 5, 201732, admitting Exhibits ' ' ' "P~1" to "P~1~d" "P~2~a" "P~3" "P~3~a" "P~3~b" "P~4" "P~6" "P~6~a" "P~6~ b" "P~6~c" "P~8~' c" "P~9" "P~11" "P~13" "P~13~' a" "' P~13~' b" "P~14" "' P~14~ a2""P9'~'"2,"0P""~P1'~43"~0Pb"~'",2' 1"""PP~' ~3"1' 1P5"~"' '2"2"P"P~' ~3"12' P5"~~,2a""3P"' 3'"' 3P""~P,1~5'2'~4P' b"~"'3' 4"""P,P~~"21P' 5~6"3"'4~""PaP"~'~,216"6"P~~'a3""5'P"~"2,P7' ~"'1P'6~' ~3"b6' P""~' ,2""8PP"~~'13' 7"7'P"'~' ""PP~~4347~~ia""' to"P"~P3~' 844"~1""P' ~"3P9~"4' 4"~Pm~"40to' " ""PP~-444' 1~"P""' P"~P' 4~24"6""' P"' ~P4~35"0" "P~44" to "P~44~h" ' to "P~50~i" "P~52" ' ' d"a"11nPP1"0~5~d9t~65"o"155P"a"""~nP't1td~ho"16rP2"8o"~~P~Pu5a~h~g6"1""h'06' 9"5"t"~P~oPPa~g~~"1""111''P013~""45~5PP"~16~~6'"~618"g514tP"o~"0~'h,"1"""0P"aP5~tPn~o"1~d5'119""13"P"6P~P~~~62~t5110o1~"061J650"�t""~P"o'a~'' "5""""9PP'PP~~~~~"g1611P0"171~7'6"41'~~'"1'71P1'"9"~""P"6~Pt,2ah6~"n81r"od"0Ptu~8ot"1"goP1h"~t7P"o1""~P1,P"6~1~P26"~1~8Pa11g~~"40c"1'~8"'1"3~'8"P1b"~P~""P1~1''~"616""428PPt"o"~~~' "P~118~3" ' "P~119~1" t"oP~"1P2~21~139"~23""P'~1"2P2~~142"0""' P"~P1~2132"1~1""P~t1h2r4o"ugh"P~"P1~2152"1~"4P"~' "P~122~2" "P~122~1" 126"' "P~1'27" ' "P~45"'' "P-48" ' "P'~51" ' "P~54"' ' "P~57'' '' "P~60" ' "'P~63"'"J P~' 69," """e"P"PPP~~'~1771"2160P8""2~""9',t0'"oa"P"n"'~PdP7~"~81P"7"0~P199~'~~13"fb2"P'9"'~'"'8""."1PPP"~~~9'7O151"0"~Pn9g~~t"t8och4"te""o'P'o"~""tP9PhP~5~e~1~78r1f16'1h~"~'ka1""nt"Po'd'~","9"PtPP6h~~~"7e81'261C""~1P'fo~~'"u19'~Pr9at~"""P7d'~4'e8"""n7PPi't~e~'od11' 01""t12PhP"~~~eb78t4"ao9~d'"fm""'PtP'io~~s"11s"P0i1Po~12~n7~~85gc9o"""~f''' Exhibits "P~2" "P~5" "P~5~a" ' "P~5~b"'"P~' 7" "P~ 7~a" "P~ 7 ~b" "P~8" "P~8~ ._ '' ' '' aah3n"4"'~dtb"o""PP~'"~8"P9~P~8b5-""34' ~7t1"o'"'P't"~o"P1' P~0"9~"P88~~04"h"7P"~~,tgo1"f2o'""rP"' ~Pf"8~aPi04~l~7u1d~r8' e"h""'to"t"PoPp~~r"' 8e1P3s9-"e"4n7t~to"hPt~h"~iPe1i~"9o8~'3ra"i~g"Pfi'~'n"5'aP3l"s~"P1~ft9o8o~r3b"~c"Pgo'~"m5"P3tpo~~a1g"r9"iP~s'~co"8"nP3'~~a5"kn3P"d~~' Exhibit "P~58", for not being found in the records of the case and failure to identify. ~ 27 Exhibit "P~111-1", Docket, Vol. 6, pp. 2519~2525. 28 Motion a) To recall witnesses and b) To file Supplemental Independent CPA Report, filed on September 28, 2016, Docket, Vol. 4, pp. 1709-1716. 29 Docket, Vol. 6, pp. 2514~2518. 30 Docket, Vol. 4, pp. 1718~1733. 31 Docket, Vol. 6, pp. 2767~2777. 32 Docket, Vol. 7, pp. 3125~3127.

DECISION CTA CASE NO. 9126 On January 11, 2018, petitioner filed a Motion for Reconsideration (Re: Resolution dated 05 December 2017) with Motion to Recall Witness33, praying that the Court reconsider the denied exhibits and allow it to recall its witness, Ms. Lourdes Mantaring, to submit her supplemental sworn statement. The Court, however, denied petitioner's motion on the basis that non-presentation of the original copies of the documents for comparison and verification violates Section 3 of Rule 13034 of the Rules of Court.35 During the hearing on April 3, 2018, respondent's counsel manifested that he has no evidence to present.36 The Court declared the case deemed submitted for decision on July 9, 2018,37 considering petitioner's Memorandum38 filed on April 24, 2018 and respondent's failure to ftle a Memorandum as per Records Verification Report10 dated July 3, 2018. The Issue As stipulated by the parties, the sole issue40 for the Court's resolution is: Whether petitioner is entitled to the refund/issuance of a tax credit certificate for its excess and unutilized input VAT for the whole period of CY 2013 in the amount of Sixty Million Four Hundred Eighty Thousand Nine Hundred Nineteen Pesos and Eighteen Centavos (Php60,480,919.18t' /Y' 33 Docket, Vol. 7, pp. 3132-3135 34 Section 3. Original document must be produced; exceptions. -When the subject of inquiry is the contents of a document, no evidence shall be admissible other than the original document itself, except in the following cases: (a) When the original has been lost or destroyed, or cannot be produced in court, without bad faith on the part of the offeror; (b) When the original is in the custody or under the control of the party against whom the evidence is offered, and the latter fails to produce it after reasonable notice; (c) When the original consists of numerous accounts or other documents which cannot be examined in court without great loss of time and the fact sought to be established from them is only the general result of the whole; and (d) When the original is a public record in the custody of a public officer or is recorded in a public office. 35 Resolution dated March 13, 2018, Docket, Vol. 7, pp. 3142-3146. 36 Minutes of the Hearing, April 3, 2018, Docket, Vol. 7, p. 3147. 37 Resolution dated July 9, 2018, Docket, Vol. 7, p. 3175. 38 Docket, Vol. 7, pp. 3149-3166. 39 Docket, Vol. 7, p. 3173. 40 Stipulation of Issues, JSFI, Docket, Vol. 3, p. 1207 41 Jd., p. 397.

DECISION CTA CASE NO. 9126 Discussion/Ruling Administrative and judicial claims were filed within the periodprescribed bylaw. The Court shall determine first whether it has jurisdiction over the Petition for Review in relation to the claim for refund ftled by petitioner with the RIR. Jurisdiction over the subject matter or nature of an action is fundamental for a court to act on a given controversy. It is conferred only by law and not by the consent or waiver upon a court which, otherwise, would have no jurisdiction over the subject matter of an action. Lack of jurisdiction of the court over an action or the subject matter of an action cannot be cured by the silence, acquiescence, or even by express consent of the parties. If the court has no jurisdiction over the nature of an action, its only jurisdiction is to dismiss the case. The court could not decide the case on the merits 42 Section 7(a)(1) and (2) of Republic Act ("RA") No. 1125, as amended by RA Nos. 9282 and 9503, provides that the Court of Tax Appeals ("CTA") has exclusive appellate jurisdiction to review by appeal the decisions or inaction by the BIR Commissioner on claims for refund, viz.: "SEC. 7. ]ttrisdiction.- The CfA shall exercise: (a) Exclusive appellate jurisdiction to review by appeal, as herein provided: (1) Decisions of the Commissioner of Internal Revenue in cases involving disputed assessments, refunds of internal revenue taxes, fees or other charges, penalties in relation thereto, or other matters arising under the National Internal Revenue Code or other laws administered by the Bureau of Internal Revenue; (2) Inaction by the Commissioner of Internal Revenue in cases involving disputed assessments, refunds of internal revenue taxes, fees or other charges, penalties in relations thereto, or other matters arising under the National Internal Revenue Code or other laws administered by the Bureau of Internal Revenue, where the National Internal Revenue Code provides a specific/"" 42 Nippon Express (Philippines) Corp. vs. Commissioner of Internal Revenue, G.R. No. 185666, February 4, 2015.

DECISION CTA CASE NO. 9126 period of action, in which case the inaction shall be deemed a denial;" (Emphasis supplied) In relation thereto, Section 112(A) and (C) of the NIRC of 1997, as amended, provides for the period when to ftl.e an administrative claim for refund with the BIR and a judicial claim with the CTA, to wit: "SEC. 112. Refunds or Tax Credits ofInput Tax.- (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 ofa tax credit certificate or refund ofcreditable 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)(1) 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 also in taxable or exempt sale of goods of 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 the volume of sales: Provided, finally, That for a person making sales that are zero-rated under Section 108 (B)(6), the input taxes shall be allocated ratably between his zero-rated and non-zero-rated sales. XXX XXX XXX (C) Period within which Refund or Tax Credit ofInput Taxes shall be Made. - In proper cases, the Commissioner shall grant a refund or issue the tax credit certificate for creditable input taxes within one hundred twenty (120) days from the date of submission of complete documents in support of the application ftl.ed in accordance with Subsection (A) hereof. In case of full or partial denial of the claim for tax refund or tax credit, or the failure on the part of the Commissioner to act on the application within the period prescribed above, the ~

DECISION CTA CASE NO. 9126 taxpayer affected may, within thirty (30) days from the receipt of the decision denying the claim or after the expiration of the one hundred twenty day-period, appeal the decision or the unacted claim with the Court of Tax Appeals." (Emphasis supplied) Based on the foregoing provision, a VAT-registered taxpayer whose sale is 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 a refund or the issuance of tax credit certificate of its creditable input tax due or paid attributable to such sales. The provision further states that upon filing of the administrative claim for refund, the BIR has one hundred twenty (120) days from the date of submission of the complete supporting documents in support of the application to either grant or deny the claim. However, should the BIR deny fully or partially the claim, the taxpayer has thirty (30) days from the receipt of the decision denying the claim or in case of inaction by the BIR, from the expiration of the 120 days, to file an appeal with the Court. ln the case of Commissioner of Internal Revenue vs. Mindanao II Geothermal Partnership40, the Supreme Court summarized the rules on the 120 + 30-day periods for claiming refund or credit of input VAT: "SUMMARY OF RULES ON PRESCRIPTIVE PERIODS FOR CLAIMING REFUND OR CREDIT OF INPUT VAT The lessons of this case may be summed up as follows: XXX XXX XXX B. 120+30 Day Period 1. The taxpayer can file an appeal in one of two ways: (1) file the judicial claim within thirty days after the Commissioner denies the claim within the 120-day period, or (2) file the JUdicial claim within thirty days from the expiration of the 120-day period if the Commissioner does not act within the 120-day period. /"�" 43 G.R. No. 191498, January 15, 2014.

DECISION CTA CASE NO. 9126 2. The 30-day period always applies. whether there is a denial or inaction on the part of the CIR. 3. As a general rule, the 30-day period to appeal is both mandatory and jurisdictional. (Aichi and San Roque) 4. As an exception to the general rule, premature filing is allowed only if filed between 10 December 2003 and 5 October 2010, when BIR Ruling No. DA-489-03 was still in force. (San Roque) 5. Late filing is absolutely prohibited, even during the time when BIR Ruling No. DA-489-03 was in force. (San Roque)" Likewise, in Rohm Apollo Semiconductor Phils. vs. Commissioner of Internal Revenue44, the Supreme Court emphasized: "A final note, the taxpayers are reminded that when the 120- day period lapses and there is inaction on the part of the CIR, they must no longer wait for it to come up with a decision thereafter. The CIR's inaction is the decision itself. It is already a denial of the refund claim. Thus, the taxpayer must flle an appeal within 30 days from the lapse of the 120-day waiting period." Pursuant to the afore-quoted provisions and Supreme Court rulings, it is undisputable that in order for the Court to acquire jurisdiction over an appeal on claims for refund, compliance with the 120-day and 30-day periods is mandatory. In the instant case, the subject claim covers the four quarters of CY 2013, which ended on the following dates: Taxable Period Close of Taxable (CY 2013) Quarter 1st Quarter 2nd Quarter March 31, 2013 3rd Quarter Tunc 30, 2013 4th Quarter September 30, 2013 December 31,2013 Counting two years from the close of the taxable quarters, petitioner had until the following dates to ftle its administrative claim for refund or tax credit of unutilized input VAT attributable to its zero-rated sales: r/ 44 G.R. No. 168950, January 14, 2015.

DECISION CTA CASE NO. 9126 Taxable Quarter Close ofTaxable End of2-Year (CY 2013) Quarter Prescriptive Period 1st Quarter 2nd Quarter March 31, 2013 March 31, 2015 3rd Quarter june 30, 2013 june 30, 2015 4th Quarter September 30, 2013 September 30, 2015 December 31, 2013 December 31, 2015 Since the administrative claim for the four quarters of CY 2013, together with the supporting documents, was filed by petitioner on March 30, 2015, the Court finds such claim timely filed. 45 Anent the timeliness of petitioner's judicial appeal, counting from March 30, 2015, the 120-day period prescribed for respondent to act on the claim expired on July 28, 2015. As the 120-day period lapsed with petitioner not receiving any decision from respondent, it had 30 days from July 28, 2015, or until August 27, 2015, to appeal such inaction to the Court. Since the Petition for Review was filed on August 26, 2015, such appeal was also timely filed. The Court will now determine whether petitioner is entitled to its claim for refund or issuance of tax credit certificate. Section 112(A) of the NIRC of 1997, as amended, provides: "SEC. 112. Refunds or Tax Credits ofInput Tax.- (A) Zero-Rated or Effectively Zero-Rated Sales. - 1\ny VAT- registered person, whose sales are zero-rated or effectively ?-era- 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)(1) 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 also in taxable or exempt sale of goods of properties or services, and the amount of creditable input tax due or paid cannot be directly and ~ 45 Exhibits "P-3", "P-3-a", and "P-3-b", Docket, Vol. 4, pp. 1765 to 1778.

DECISION CTA CASE NO. 9126 entirely attributed to any one of the transactlons, it shall be allocated proportionately on the basis of the volume of sales: Provided, finally, That for a person making sales that are zero-rated under Section 108 (B)(6), the input taxes shall be allocated ratably between his zero-rated and non-zero-rated sales." From the afore-quoted provision, in order to be entitled to a refund or tax credit of excess input VAT attributable to zero-rated or effectively zero-rated sales, the following requisites must be satisfied: 1. that the claim for refund was filed within the prescriptive period; 2. that the taxpayer is VAT-registered; 3. that there must be zero-rated or effectively zero-rated sales; 4. that input taxes were incurred or paid; 5. that such input taxes are attributable to zero-rated or effectively zero-rated sales; and 6. that the input taxes were not applied against any output VAT liability. For the first requisite, it has already been established that petitioner has filed its administrative claim and judicial appeal within the period prescribed by law. Petitioner Is a VAT- registered entity. Petitioner also satisfied the second requisite considering that it is a VAT- registered taxpayer with Taxpayer Identification No. 244-027-271-000, as evidenced by its Certificate of Registration No. OCN3RC0000421626.46 Petitioner had effectively zero-rated sales. Petitioner posits that its sales of services which were rendered to foreign corporations/affiliates engaged in business outside of the Philippines and paid for in acceptable foreign currency and duly accounted for in accordance with the rules and regulations of the Bangko Sentra! ng Pi!ipinas ("BSP") are subject to zero- percent (0%) VAT pursuant to Section 108(B)(2) of the NIRC of 1997, as amended, which states: ~ 46 Exhibit "P-2-a", Docket, Vol. 4, p. 1764.

DECISION CTA CASE NO. 9126 "SEC. 108. Value-added Tax on Sale ofServices and Use or Lease ofProperties. - XXX XXX XXX (B) Transactions Subject to Zero Percent (0%) Rate. - The following services performed in the Philippines by VAT-registered persons shall be subject to zero percent (0%) rate: (1) Processing, manufacturing or repacking goods for other persons doing business outside the Philippines which goods are subsequently exported, where the services are paid for in acceptable foreign currency and accounted for in accordance with the rules and regulations of the Bangko Sentral ng Pilipinas (BSP); (2) Services other than those mentioned in the preceding paragraph rendered to a person engaged in business conducted outside the Philippines or to a nonresident person not engaged in business who is outside the Philippines when the services are performed, the consideration for which is paid for in acceptable foreign currency and accounted for in accordance with the rules and regulations of the Bangko Sentral ng Pilipinas (BSP);" In the case of Commissioner of Internal Revenue vs. Burmeister and Wain Scandinavian Contractor Mindanao, Inc. 47, the Supreme Court held that in order for the supply of services to be VAT zero-rated under Section 108(B)(2) of the NIRC of 1997, as amended, the following requisites must be met: 1. the services must be other than processing, manufacturing or repacking of goods; 2. the recipient of such services is doing business outside the Philippines; and 3. the payment for such services must be in acceptable foreign currency accounted for in accordance with the BSP rules and regulations. Petitioner is a multinational company organized and existing under the laws of Barbados and has established an ROHQ in the Philippines, under SEC Certificate of Registration and License No. FS200603505, "to engage in general administration and planning; business planning and coordination; sourcing/procurement of raw materials and components; corporate finance ~ 47 G.R. No. 153205, January 22, 2007.

DECISION CTA CASE NO. 9126 advisory services; marketing control and sales promotion; training and personnel management; logistic services; research and development services and product development; technical support and maintenance; data processing and communication and business development."48 These services clearly fall within the scope of "services other than processing, manufacturing or repacking of goods" contempL'lted by the afore-mentioned provision. Petitioner avers that for CY 2013, it generated both VAT zero-rated and taxable sales. These alleged zero-rated sales of services were made to the following non-resident foreign corporations/ affiliatesA9 1. The Manufacturer's Life Insurance Company 2. John Hancock Life Insurance Company (USA) 3. Manulife Insurance Berhad 4. Manulife Asset Management (Hong Kong) Limited 5. Manulife Financial Asia Limited 6. Manulife (Singapore) Pte Ltd. 7. Manulife Asset Management (Malaysia) Sdn. Bhd. 8. Manulife Asset Management (Singapore) Pte. Ltd. 9. Manulife Asset Management Limited 10. Manulife (International) Limited 11. Manulife Asset Management (Vietnam) Company Limited 12. Manulife-Sinochem Life Insurance Company I -imited 13. Manulife Japan 14. Manulife Technology & Services Sdn. Bhd. 15. Pt. Asuransi Jiwa Manulife Indonesia 16. Manulife (Vietnam) Limited 17. Manulife Bank & Trust 18. Manulife Information & Technologies Service (Chengdu) 19. Pt. Manulife Aset Manajemen Indonesia In compliance with the second reqws!te of proving that the above- enumerated entities arc non-resident foreign corporations doing business outside the Philippines, petitioner submitted several documents such as Certifications of Non-Registration of Company issued by the Securities and Exchange Commission, Articles/Certificates of Incorporation/Registration, Service Agreements and/or other related documents, detailed as folio/ 48 Exhibits "P-1" to "P-1-d", Docket, Vol. 4, p. 1735. 49 Exhibit "P-111", Findings and Observations No. 2, !CPA Report, Docket, Vol. 3, pp. 1293 to 1294.

DECISION ITA CASE NO. 9126 Client SEC Articles of Service Certification Incorporation/ Agreement/ The Manufacturer's Life Insurance Company of Non- Certificate of other John Hancock Life Insurance Company (USA) Registration Registration documents Manulife Insurance Bcrhad P-65 to P-65-J; i\!anulife Asset Management (Hong Kong) none P-67 P-104; P-124; Limited P-126; P-127 Manulife financial Asia I-imited P-45 P-46 P-44 to P-44-p Manulife (Singapore) Pte Ltd. P-60 P-59 to P-59-g Manulife 1\sset Management (Malaysia.)_Sdn. Bhd. none Manulifc Asset Management (Singapore) Pte. Ltd. P-54 none Manulifc Asset Management Limited P-84 P-55 none Manulifc (International) Limited P-63 none P-62 to P-62-g Manulife Asset Management (Vietnam) Company P-48 P-64 none Limited P-57 none P-56 to P-56-g ,\fanulifc-Sinochem Life Insurance Company P-78 none none Limited P-51 P-50 to P-50-i Manulife Japan none Manulife Technology & Services Sdn. Bhd. P-75 P-74 Pt. Asuransi Jiwa Manulife Indonesia P-52 Manulife (Vietnam) Limited P-96 P-95 :\!anulifc Bank & Trust P-90 P-76 P-H9 :\!anulifc Information & Technologies Service P-93 none (Chcngdu) P-99 none none Pt. Manulife Aset Manajemen Indonesia P-72 none P-71 P-81 none none none P-87 none P-86 P-102 none P-101 none none This Court has consistently held that in order to be considered as a non- resident foreign corporation doing business outside the Philippines, each entity must be supported, at the very least, by both a Certificate of Non-registration of Corporation/Partnership issued by the Philippine SEC and a Certificate/Articles of Foreign Incorporation/ Association.5� Parenthetically, it must be emphasized that notwithstanding the presentation of the said documents, there must not be any indication that the recipient of the services is doing business in the Philippines. The said basic documents arc necessary because the Philippine SEC's negative certification establishes that the recipient of the service has no registered business in the Philippines; while the said certificate/articles of incorporation/association will prove that the said recipient of the service is indeed a non-resident foreign entity. Furthermore, the former document will tend to satisfy the requirement that the service-recipient is not engaged in trade or business within the Philippines; while the latter document will indicate whether the same service-recipient is engaged in business at all (i.e., a showing of_.A/ 50 Deutsche Knowledge Services, Pte. Ltd. vs. Commissioner of Internal Revenue, ITA EB No. 1290 (ITA Case No. 7808), August 16, 2016

DECISION CTA CASE NO. 9126 a continuity of conduct and intention to establish a continuous business). In this connection, it must be remembered that the afore-quoted Section 108(B)(2) of the NIRC of 1997, as amended by RA No. 9337, requires, inter alia, that the service-recipient is "a person engaged in business conducted outside the Philippines", for the transaction to be treated as subject to the 0% VAT rate 51 Accordingly, the Court finds that only the following clients satisfy the above requisites and thus, prove that these are non-resident corporations doing business outside the Philippines: Articles of Incorporation/ SEC Certificate of Certificate of Non-Registration Registration (Exhibit No./2 I. John Hancock Life Insurance Company (USA) P-45 (Exhibit No.) 2. Manulife Asset Management (Hong Kong) Limited 1'-54 P-46 55 3. Manulifc (Singapore) Pte Ltd. P-63 4. Manulifc (International) Limited P-51 P-55 54 I Manulifc Asset Management (Vietnam) Company P-75 1'-6451 5. Limited P-525(' P-76 57 As to the third requisite, Sections 113(A)(2), (B)(1), (2)(c) and (3) of the NIRC of 1997, as amended, as implemented by Sections 4.113-1(A)(2), (B)(1) and (2)(c) of Revenue Regulations ("RR") No. 16-05, provide that a VAT taxpayer, like herein petitioner, shall for every lease of goods or properties and for every sale, barter or exchange of services issue a VAT official receipt which must contain the following information: "SEC. 113. Invoicing and Accounting Requirements for VAT- Registered Persons. - (A) Invoicing Requirements. - A VAT-registered person shall tssue: XXX XXX XXX 51 Deutsche Knowledge Setvices, Pte Ltd. vs. Commissioner of Internal Revenue, CTA EB Nos. 1374 and 1383 (CTA Case No. 8003), December 15, 2017 52 Docket, Vol. 6, pp. 2859, 2861, 2862, 2865, and 2905 53 Docket, Vol. 5, pp. 2057 to 2106. 54 Docket, Vol. 5, pp. 2278 to 2365. 55 Docket, Vol. 5, pp. 2484 to 2431. 56 Docket, Vol. 5, pp. 2174 to 2241. 57 Docket, Vol. 6, pp. 2906 to 2925.

DECISION CTA CASE NO. 9126 (2) A VAT official receipt for every lease of goods or properties, and for every sale, barter or exchange of services. (B) Information Contained in the VAT Invoice or VAT Official Receipt. -The following information shall be indicated in the VAT invoice or VAT official receipt: (1) A statement that the seller is a VAT-registered person, followed by his Taxpayer's Identification Number (TIN); (2) The total amount which the purchaser pays or 1s obligated to pay to the seller with the indication that such amount includes the value-added tax: Provided, That: XXX XXX XXX (c) If the sale is subject to zero percent (0%) value-added tax, the term 'zero-rated sale' shall be written or printed prominently on the invoice or receipt; XXX XXX XXX (3) The date of transaction, quantity, unit cost and description of the goods or properties or nature of the service; and" (Emphasis supplied) "SECTION 4.113-1. Invoicing Requirements. - (A) A VAT-registered person shall issue:- XXX XXX XXX (2) A VAT official receipt for every lease of goods or properties, and for every sale, barter or exchange of services. Only VAT-registered persons arc rcguired to print their TIN followed by the word 'VAT' in their invoice or official receipts. Said documents shall be considered as a 'VAT Invoice' or VAT official receipt. All purchases covered by invoices/receipts ,A/

DECISION CTA CASE NO. 9126 other than VAT lnvoice/VAT Official Receipt shall not give rise to any input tax. VAT invoice/official receipt shall be prepared at least in duplicate, the original to be given to the buyer and the duplicate to be retained by the seller as part of his accounting records. (B) Information contained in VAT invoice or VAT official receipt. - The following information shall be indicated in VAT invoice or VAT official receipt: (1) A statement that the seller is a VAT-registered person, followed by his TIN; (2) The total amount which the purchaser pays or is obligated to pay to the seller with the indication that such amount includes the VAT; Provided, That: XXX XXX XXX (c) If the sale is subject to zero percent (0%) VAT, the term 'zero-rated sale' shall be written or printed prominently on the invoice or receipt;" (Emphasis supplied) Pursuant to the foregoing provisions, the foreign currency remittances referred to under Section 108(B)(2) of the NIRC of 1997, as amended, must likewise be supported by VAT zero-rated official receipts. Tn its Quarterly VAT Returns for CY 2013,58 petitioner reported total sales of Php2,175,091 ,587.87 which consisted of zero-rated sales of Php2,152,529,797.47 and VATable sales ofPhp22,561,790.40, broken down as follows: Quarter Zero-Rated Sales VATable Sales Total 1st Php 479,724,554.50 Php 397,595.48 Php 480,122,149.98 2nd 3rd 513,130,554.25 5,087,332.10 518,217,886.35 4th 561,305,225.32 5,939,835.61 567,245,060.93 598,369,463.40 11,137,027.21 609,506,490.61 Total Php2,152,529, 797.47 Php22,561,790.40 Php2,175,091,587 .87 58 Exhibits "P-6", "P-8-c", "P-9", and "P-11", Docket, Vol. 6, pp. 2779, 2783, 2785 to 2786, and 2792 to 2793.

DECISION CTA CASE NO. 9126 To prove that it rendered services to its non-resident foreign client- affiliates and was paid in US dollars duly accounted for in accordance with the rules and regulations of the BSP for the four quarters of CY 2013, petitioner presented its Summary of Zero-rated Sales/Receipts for CY 201359 and the related zero-rated official receipts (OR) 60, Monthly Schedules of Zero-Rated Sales and Bank Credit Memo6\ Reconciliation of Zero-Rated Sales (Reconciliation)62, Schedule of VATable Sales and Bank Credit Memo for the year 201363, Summary of Bank Credit Memos64, and 2013 and 2014 Bank Statements65, which were examined by the Court-commissioned ICPA. As accounted by the ICPA, the total zero-rated sales for CY 2013 amounted to US$51 ,681,889.48 or Php2,201,829,955.45.66 However, petitioner's reported zero-rated sales in its 2013 Quarterly VAT Returns amounted only to Php2,152,529,797.47. The difference of Php49,300,157.98 was attributable to vanous billing adjustments as provided in the Reconciliation of Zero-Rated Sales 67 As found by the ICPA, out of the total accounted zero-rated sales for C:Y 2013 amounting to Php2,201,829,955.45, only the amount of Php776,913,568.13, which is equivalent to US$18,239,360.17, was earned from the following clients, which as determined earlier qualify as non-resident foreign entities doing business outside the Philippines: Client InUSD In Php John Hancock Life Insurance Company (USA) $14,762,632.26 Php628,711,549.04 1\fanulifc Asset Management (Hong Kong) Limited 390,986.62 16,886,794.58 Manulife (Singapore) Pte Ltd. 210,772.24 9,041,343.22 Manulife (International) Limited 2,845,649.09 121,062,329.4 7 Manulifc Asset Management (Vietnam) Company Limited 29,319.96 1,211,551.82 Total $18,239,360.17 Php776,913,568.13 59 Exhibit "P-111", Annex 2, ICPA Report, Docket, Vol. 3, pp. 1326 to 1330. 60 Exhibits "P-113-1" to "P-113-2065", !CPA Report Supporting documents. 61 Exhibits "P-22" to "P-33", Docket, Vol. 4, pp. 1919 to 1954. 62 Exhibit "P-120", ICPA Report Supporting Documents. 63 Exhibit "P-20", Docket, Vol. 4, p. 1914. 64 Exhibit "P-21", Docket, Vol. 4, pp. 1915 to 1918 65 Exhibits "P-117" and "P-125", !CPA Report Supporting Documents. 66 Exhibit "P-111", Annex 2, ICPA Report, Docket, Vol. 3, pp. 1326 to 1330. 67 Exhibit "P-120", ICPA Report Supporting Documents.

DECISION CTA CASE NO. 9126 However, the above sales amounting to Php776,913,568.13 was overstated by the net amount of Php22,396,101.10 after cross-checking the same in the Reconciliation. This net overstatement is broken down as follows: Invoice No. In USD In Php john Hancock Life Insurance Company (USA) 5132 $ 40,254.22 Php 1,638,749.30 50,534.54 5108 1,241.33 272,887.60 5451 6,700.54 306,636.68 (574,659.67) 5616 7,451.25 577,447.18 835,847.56 5500 (13,964.19) 5500 13,964.19 5113 20,212.99 erroneous take up - held in trust Q1 22,598.19 934,480.35 erroneous take up - held in trust Q1 188,996.60 7,815,387.40 265,604.72 5778 6,423.02 288,330.53 5945 6,711.81 erroneous take up - held in trust Q2 20,586.08 884,350.91 erroneous take up - held in trust Q2 178,320.02 7,660,393.43 301,802.22 6306 6,772.14 288,459.46 283,518.16 6491 6,613.51 282,967.38 282,327.03 6677 6,565.43 Php 22,395,064.78 6887 6,479.67 7087 6,357.44 Subtotal $ 532,284.24 Manulife Asset Management (Hong Kong) Limited 5730 $ (20.90) Php (864.26) Php 909.84 5730 20.90 45.58 Subtotal $ - Manulife (Singapore) Pte Ltd. 5275 $ 1,699.58 Php 69,125.40 Php (70,281.03) 5275 (1,699.58) 83,060.70 5414 2,039.49 (84,336.99) 139,883.53 5414 (2,039.49) (140,562.06) 5595 3,399.16 4,380.54 1,270.09 5595 (3,399.16) 6878 100.31 Subtotal $ 100.31 Manulife (International) Limited 5109 $ 5,491.78 Php 223,570.36 (223,361. 95) 5109 (5,491.78) 31,742.82 (32,230.58) 5343 779.42 (279.35) 5343 (779.42) Subtotal $-

DECISION InUSD In Php ITA CASE NO. 9126 Page 22 of 73 $ 532,384.55 Php 22,396,101.10 Invoice No. Grand Total These billing adjustments amounting to Php22,396,101.10 were not reported by petitioner in its 2013 Quarterly VAT Returns. Deducting the same from the total accounted zero-rated sales from qualified clients of Php776,913,568.13, only the amount ofPhp754,517,467.03 was actually reported in the Quarterly VAT Returns for CY 2013. Thus, the Court will confine its examination based on the amount reported and disregard the related billing adjustments per Reconciliation. Prom the above sales, the ICPA found the following exceptions amounting to Php151,761,337.64 and shall thus be deducted from the total allowable zero-rated sales for CY 2013: !CPA Report Invoice OR OR Ex h. Annex No. No. Date Client Reference Reference In USD In Php Zero-rated sales/ receipts su �ported by registered zero-rated ORs but date not indicated Manulifc .Asset f\..1anagement (Vietnam) Companv Limited 5398 0628 nil P-113-452 3-3 $ 18,000.00 Php 733,071.79 l'vfanulife Asset .i\hnagement (Vietnam) C<Hnpany Limited 5399 0629 nil P-113-453 3-3 943.33 38,418.2(, - i\lanulifc Asset i\lanagcmcnt (Vietnam) P-113- _c::c,mpany Limited 7037 2265 nil 1702 3-19 943.33 41,892.26 I Subtotal $ 19,886.66 Php 813,382.31 ! Zero-rated sales/ receipts supported by registered zero-rated ORs but not dated within the period of claim I\[anulifc Asset l'vianagcment (Hong Kong) Limited 5729 0959 5/2/2014 P-113-830 3-9 $ 6,088.02 Php 251,751.80 ivlanulife Asset "lv[anagement I (Hong Kong) 5565 0795 5/2/2014 P-113-834 3-9 6,111.64 251,508.54 Limited 6690 3-20 9,485.03 414,211.54 John Hancock Life 6724 1921 1/2/2014 P-113- 3-20 29,315.62 1,280,21.'\.98 lnsurann� 6728 1714 3-20 Company (USc\) 77.79 I John I lancock J.ife 1955 1/2/2014 P-113- Insurance 1748 3,397 o'U' Company (USA) John f fancock Life 1959 1/2/2014 P-113- Insurance 1752 Company (USA)

DECISION CfA CASE NO. 9126 Client Invoice OR OR Exh. !CPA In USD In Php No. No. Date Reference Report 55,482.90 2,422,939.85 l\Ianulife Annex 66,317.84 2,896,102.00 (I ntcrnational) 6734 1965 1/9/2014 P-113- Reference 5,374,369.1(, Limited 1757 123,067.68 Manulife 6735 1966 1/23/2014 3-20 3,040.84 132,793.57 (In tcrnational) P-113- 3-20 3,040.84 132,793.57 1.imitcd 6736 1967 1/9/2014 1758 3-20 1,279, 779.911 lvlanulife 3-20 29,305.68 55,186.69 (In tcrnational) 6745 1976 1/2/2014 P-113- 3-20 1,263 72 1,237,983.75 Jjmited 1759 3-20 1,561,712.29 John I Iancock Life 6746 1977 1/2/2014 3-20 28,348.59 Insurance P-113- 3-20 35,761.65 I Company (USA) 6747 1978 1/2/2014 1765 3-20 46,102.69 John Hancock Life 3-20 84,196.87 2,013,305.81 I Insurance 6748 1979 1/2/2014 P-113- 3-20 19,574.50 Company (USA) 1766 3-20 50,420.68 ! 1 John Hancock Life 6749 1980 1/2/2014 3-20 P-113- 3-20 5,626.32 3.676,879.75 I I Insurance 6750 1981 1/2/2014 1767 3-20 4,490.92 3-20 2,817.92 l Company (USA) 6751 1982 1/2/2014 P-113- 3-20 I John I Iancock 1,ifc 1768 3-20 555.21 854,818.98 6752 1983 1/2/2014 555.21 2,201,872 56 Insurance P-113- Company (US1\) 6753 1984 1/2/2014 1769 245,701.56 John I Iancock Life 196,118.61 Insurance 6754 1985 1/2/2014 P-113- 123,058.65 Company (USA) 1770 24,nrJ.o4 John Hancock Life 6755 1986 1/2/2014 24,246.04 Insurance P-113- Company (USA) 6756 1987 1/2/2014 1771 john Hancock Life Insurance 6757 1988 1/2/2014 P-113- 1772 Company (L:SA) 6758 1989 1/2/2014 John Hancock Life P-113- 6759 1990 1/2/2014 1773 Insurance Company (USA) P-113- John I-Iancock Life 1774 Insurance Companv (USA) P-113- John I Ian cock Life 1775 I nsurancc Companv (USA) P-113- John I Iancock Life 1776 Insurance Company (USA) P-113- john Hancock Life 1777 ln~urancc P-113- 1778 I Company (USc\) P-113- John 1-Jancock Life 1779 Insurance Company (USA) John I Iancock Life l n~urancc Companv (USA) John 1-lancock Life I n~urance Company (USA)

DECISION CTA CASE NO. 9126 Client Invoice OR OR Exh. !CPA In USD In Php John Hancock Life No. No. Date Reference Report 1,383.00 60,395.65 Annex Insurance Reference 380,139.20 16,600,689.89 Company (USA) 37,876.03 1,654,0H.33 John Hancock Life P-113- 37,765.86 1,649,236.20 Insurance 8,190.00 Company (USA) 6760 1991 1/2/2014 1780 3-20 15,970.50 357,657c~ fohn Hancock Life 37,770.01 I nsurancc P-113- 20,065.50 697,432.20 Company (US1\) 13,411.97 1,649,417.43 John Hancock Life 6761 1992 1/2/2014 1781 3-20 18,245.04 Insurance 8,025.00 876,260.97 Company (USA) P-113- 2,773.92 585,701.12 fohn Hancock Life 7,644.00 796,761.43 Insurance 6762 1993 1/2/2014 1782 3-20 9,976.50 350,451. 9_fl_ Company (USi\) 121,137.17 fohn Hancock Life P-113- 6,152.43 333,813.70 Insurance 20,242.80 435,674.04 Company (USA) 6763 1994 1/2/2014 1783 3-20 6,651.00 268,67(,. 79 John JIancock Life P-113- 884,003.66 290,449.36 Insurance 6764 1995 1/2/2014 1784 3-20 Company (USA) John Hancock Life P-113- Insurance Company (USA) 6766 1997 1/2/2014 1785 3-20 fohn Hancock Life Insurance P-113- Company (USA) 6768 1999 1/2/2014 1786 3-20 John Hancock 1.ifc P-113- Insurance Company (USA) 6769 2000 1/2/2014 1787 3-20 John Hancock Life I nsurancc P-113- Company (USA) John Hancock Life 6770 2318 1/2/2014 1788 3-20 Insurance Company (USA) P-113- John Hancock Life Insurance 6771 2001 1/2/2014 1789 3-20 Company (USA) John Hancock Life P-113- Insurance Company (USA) 6772 2002 1/2/2014 1790 3-20 I\hnulifc Asset i\Ianagement P-113- (Hong Kong) Companv Limited 6773 2003 1/2/2014 1791 3-20 John 1-lancock Life Insurance P-113- Company (USA) John Hancock Life 6774 2004 1/2/2014 1792 3-20 Insurance C:ompam (USA) P-113- 6777 2007 1/2/2014 1795 3-20 P-113- 6785 2015 5/2/2014 1801 3-20 6805 2035 1/2/2014 6818 2048 1/2/2014 P-113- 1809 3-20 P-113- 1819 3-20

DECISION CTA CASE NO. 9126 Client Invoice OR OR Exh. !CPA In USD In Php John Hancock Life No. No. Date Reference Report 24,066.43 1,050,981.70 6821 2051 1/2/2014 Annex 15,963.09 Insurance 6828 2058 1/2/2014 Reference 24,383.87 697' 108.60 Company (USA) 6829 2059 1/2/2014 11,410.65 1,064,844 31 John Hancock Life 6830 2060 1/2/2014 P-113- 3-20 23,319.24 Insurance 6831 2061 1/2/2014 1822 17,588.10 498,303.41 Company (US,\) 6832 2062 1/2/2014 4,687.99 1,018,351.89 John Hancock Life 6834 2064 1/2/2014 P-113- 1,874.67 Insurance 6835 2065 1/2/2014 5,470.16 768,072.841 Company (US,\) 6836 2066 1/2/2014 1826 3-20 204,724.66 John I Iancock Life 943.33 I nsurancc 6837 2067 1/2/2014 P-113- 897.00 81,866.82_ Company (USA) 6869 2099 1/2/2014 3,104.70 238,882.05 John Hancock Life 6870 2100 1/2/2014 1827 3-20 2,260.50 Insurance 6871 2101 1/2/2014 2,025.08 41,195.25 Company (USA) 6873 2103 1/2/2014 P-113- 892.86 39,172.02 John l Iancock Life 6874 2104 1/2/2014 691.52 135,582.34 I nsurancc 6875 2316 1/2/2014 1828 3-20 141,447.85 98,716.10 Company (USA) 6887 2115 1/2/2014 88,435.30 John Hancock Life P-113- Insurance I' Company (USA) 1829 3-20 John Hancock Life 38,991.22 I nsurancc P-113- 30,198.70 Company (USA) 6,177,031.68 John Hancock Life 1830 3-20 I nsnrance Company (USA) P-113- i\lanulifc Asset i\lanagcmcnt 1831 3-20 (Vietnam) Company Limited P-113- John f fancock Life Insurance 1832 3-20 Company (USA) John Hancock Life P-113- ] nsurance Company (USA) 1833 3-20 John Hancock Life Insurance P-113- 3-20 Company (USA) 1834 3-20 John Hancock Life 3-20 Insurance P-113- 3-20 C:ompanv (USA) 1858 3-20 John llancock Life 3-20 ln:;urance P-113- 3-20 Company (USA) 1859 3-20 John f Iancock Life Insurance P-113- Company (USA) 1860 John Hancock Life Insurance P-113- Company (USA) 1861 P-113- 1862 P-113- 1863 P-113- 1868

DECISION CTA CASE NO. 9126 Client Invoice OR OR E x h. ICPA In USD In Php John Hancock Life No. No. Date Reference Report 9,475.01 420,774.93 Annex Insurance 6903 2131 1/29/2014 P-113- Reference 121,447.70 5,393.360.83 I Company (USA) 1883 3,040.84 135,041)..!1 Manulifc 6965 2193 1/16/2014 3-20 1,728.12 76,743.94 (International) P-113- 3-20 J.imited 6973 2201 1/29/2014 1907 3-20 27,692.90 1,229,811.70 3-20 1,425.64 63,311.13 Iohn Hancock Life 6974 2202 1/29/2014 P-113- 3-20 1912 3-20 26,520.09 1,177,728.48 Insurance 6976 2204 1/29/2014 3-20 32,196.94 1,429,831.24 Company (US,".I P-1 13- 3-20 48,849.75 2,169,36449 John Hancock Life 6977 2205 1/29/2014 1913 3-20 81,850.02 3,634,870.74 Insurance 3-20 18,557.52 Company (USA) 6978 2206 1/29/2014 P-113- 3-20 50,674.40 824,119.37 John llancock Life 1915 3-20 2,250,395.22 Insurance 6979 2207 1/29/2014 3-20 5,558.07 Company (USA) P-113- 3-20 14,435.46 246,827.87 john llancock Life 6980 2208 1/29/2014 1916 3-20 4,491.67 Insurance 3-20 2,788.90 I 1 Companv (USA) 6981 2209 1/29/2014 P-113- 3-20 3,85842 John Hancock Life 1917 3-20 382,329.00 CA1,063.141 Insurance 6982 2210 1/29/2014 Company (USi\) P-113- I John Hancock Life 6983 2211 1/29/2014 1918 Insurance 199,470.21\ Ii Company (USA) 6984 2212 1/29/2014 P-113- john I-lancock Life 1919 I Insurance 6985 2213 1/29/2014 123,852.03 1 Compam� (USA) P-113- 171,348.25 John 11ancock Life 6986 2214 1/29/2014 1920 16,978,8HJ.84 I nsurancc Company (USA) 6987 2215 1/29/2014 P-113- John IIancock Life 1921 I nsurancc 6988 2216 1/29/2014 Company (US,\) P-113- John 11ancock Life 6989 2217 1/29/2014 1922 Insurance Company (USA) P-113- john llancock Life 1923 Insurance Company (US,'\) P-113- John Hancock Life 1924 Insurance Company (USA) P-113- John 1-fancock Life 1925 1 P-113- 1926 1nsurancc Company (USi\) P-113- John Hancock Life 1927 Insurance Company (USA) P-113- 1928 John Hancock Life 1nsurance Company (USi\) John Hancock Life Insurance Company (USA)

DECISION CTA CASE NO. 9126 Client Invoice OR OR Exh. !CPA In USD In Php John Hancock Life No. No. Date Reference Report 42,529.18 1,888,674.82 Annex 49,165.22 2,183,374.17 Insurance 6990 2218 1/29/2014 P-113- Reference 8,190.00 1929 2,665.00 363,7119.03 Company (USA) 6991 2219 1/29/2014 3-20 17,781.30 118,349.76 John Hancock Life P-113- 3-20 34,023.86 789,648.28 6992 2220 1/29/2014 1930 3-20 20,962.40 1,510,962.77 Insurance 3-20 13,154.91 930,917.48 Company (CSJ\) 6993 2221 1/29/2014 P-113- 3-20 2,467.40 584,195.31 John Hancock Life 1931 3-20 2,260.50 ](19,574.5(, I nsurancc 6995 2223 1/29/2014 3-20 1,655.67 P-113- 3-20 8,025.00 I Company (US,\) 6996 2224 1/29/2014 1932 3-20 8,172.41 John I Iancock Life 3-20 100,386.30 Insurance 6997 2225 1/29/2014 P-113- 3-20 3,464.29 Company (USA) 1933 3-20 I John Hancock Life 6998 2226 1/29/2014 3-20 7,713.38 I nsurancc P-113- 936.00 73,526.51 Company (USA) 7000 2228 1/29/2014 1934 3-20 356,381.56 john Hancock Life 1,905.34 362,927 88 I nsurancc 7001 2229 1/29/2014 P-113- 3-20 Company (US,\) 1935 3-20 151,845.37 7003 2231 1/29/2014 3-20 John Hancock Life P-113- 342,542.85 Insurance 7006 2234 1/29/2014 1936 Company (US,\) I John Hancock Life 7007 2235 1/29/2014 P-113- Insurance 1937 41,56675 Company (L'Si\) 7015 2243 3/20/2014 John Hancock Life P-113- j 84,(,14.08 I Insurance 7016 2244 5/17/2014 1938 i Company (US,\) 7025 2253 1/16/2014 John I Iancock Life 7026 2254 1/16/2014 P-113- Insurance 1939 Company (USA) John I lancock Life P-113- Insurance 1941 Company (USA) P-113- I John I lancock Life 1942 Insurance P-113- 1950 Company (USA) John llancock Life P-113- 1951 Insurance P-113- Company (USi\) 1960 1\lanulife .\;:;set P-113- Management 1961 (!long Kong) l.imitcd Manulifc Asset tvlanagcmen t (!long Kong) Limited Manulife (Singapore) Pte Ltd. i\Ianulife (Sinf(apore) Pte Ltd.

DECISION CTA CASE NO. 9126 Client Invoice OR OR Exh. !CPA In usn In Php i'vlanulife No. No. Date Reference Report 11,102.22 (Singapore) Pte Annex 250.00 Ltd. 7027 2255 1/23/2014 P-113- Reference 579,)(,5.99 1962 13,041.66 919,152.67 i'v!anulifc Asset 3-20 20,697.48 295,363.71 i\1anagemcnt 7030 2258 1/29/2014 P-113- 1,170,357.48 (Hong Kong) 7040 2268 1/29/2014 1963 3-20 6,651.00 35,309.97 7054 2282 1/29/2014 3-20 26,354.11 165,287 77 Limited 7057 2285 1/29/2014 P-113- 3-20 1,1101,81(,.76 John I-Iancock Life 7058 2286 1/16/2014 1967 3-20 795.11 708,347 54 7059 2287 1/16/2014 3-20 3,721.95 1,118,225 861 Insurance 7060 2288 1/16/2014 P-113- 3-20 22,558.91 581,519.23 Company (L:S"-\) 7064 2292 1/29/2014 1980 3-20 15,950.57 1,036,(148.04 John Hancock Life 7065 2293 1/29/2014 3-20 25,180.21 781,068.47 1nsurance 7066 2294 1/29/2014 P-113- 3-20 13,094.65 Company (USA) 7067 2295 1/29/2014 1983 3-20 23,329.73 I John Hancock Life 7068 2296 1/29/2014 3-20 17,588.10 Insurance 7069 2297 1/29/2014 P-113- 3-20 73,818.00 3,278,177.44 Companv (USA) 7070 2298 1/29/2014 1984 3-20 4,687.99 208,188.56 1\hnulifc 7071 2299 1/29/2014 3-20 1,874.67 83,252.06 (Singapore) Pte 7072 2300 1/29/2014 P-113- 3-20 5,470.16 242,923.88 Ltd. 7078 2306 1/29/2014 1985 3-20 131,389.00 J\!anulife 3-20 5,834,843.19 (Smgapore) Pte P-113- Ltd. 1986 fv[anulife (Singapore) Pte P-113- . Ltd. 1990 John Hancock Life P-113- Insurance 1991 Company (USi\) John Hancock Life P-113- 1992 Insurance Company (US1\) P-113- John Hancock Life 1993 Insurance Company (USA) P-113- John f fan cock Life 1994 Insurance Company (USA) P-113- John Hancock Life 1995 I nsurancc Company (USA) P-113- John Hancock Life 1996 Insurance Company (USA) P-113- John f fancock Life 1997 Insurance Company (USA\ P-113- 1998 John Hancock Life P-113- 2003 Jnsurance Company (USA) John Hancock Life 1nsurance Company (USA) Manulife Asset ivfanagement

DECISION CTA CASE NO. 9126 Client Invoice OR OR Exh. ICPA In USD In Php (Hong Kong) No. No. Date Reference Report Limited Annex 6,080.98 270,049.71 :tvfanulife Asset 7084 2312 5/5/2014 P-1 13- Reference 143,873.24 6,389,254.78 7087 2315 1/29/2014 2006 1,146,403.31 h1anagcmcn t 6943 2171 1/29/2014 3-20 25,81471 (!long Kong) 6944 2172 1/29/2014 P-113- 3-20 2,287.09 101,567 19 l.imitcd 6948 2176 1/29/2014 2009 3-20 2,109.40 93,67r..17 John I Iancock Life 6949 2177 1/29/2014 3-20 8,189.31 Insurance 6833 2063 1/2/2014 P-1 13- 3-20 363,67R.39 Company (CSA) 6994 2222 1/29/2014 2028"' 3-20 67,289.21 2,93R.521.75 John llancock Life 6999 2227 1/29/2014 3-20 15,470.00 Insurance 7002 2230 1/29/2014 P-113- 3-20 21,000.Q4 687.005.95 Company (USA) 6765 1996 1/2/2014 202969 3-20 932.589.03 John Hancock Life 6767 1998 1/2/2014 3-20 1,958.09 Insurance 6844 2074 1/2/2014 P-1 13- 3-20 2,730 00 86,956.66 Company (USA) 6963 2191 1/16/2014 2033"' 3-20 17,586.60 119,219.18 John Hancock Life 6964 2192 2/24/2014 3-20 1,52615 768,007 33 1nsurance P-113- 3-20 54,256.11 Companv (USA) 203471 3-20 63,802.10 (,6,647.01 John llancock Life 2,409,455.0R Insurance P-1 13- 2,833,382.17 Company (CSA) 2040 John llancock Life Insurance P-113- Company (USi\) 2044 John Hancock Life Insurance P-113- Company (USA) 2045 John llancock Life Insurance P-1 13- Company (USA)_ 2046 John llancock Life Insurance P-1 13- Company (USA) 2057 John Hancock Life Insurance P-113- Company (USA) 2058 iohn llancock Life Insurance P-113- Company (USA) 2062 John I Iancock Life Insurance P-113- Company (US,\) 1369 I'vfanulifc (International) P-113- Limited 1377 ;\fanulife (International) Limited 68 Actual Exhibit is "P-113-2029"; OR No. 2172. 69 Actual Exhibit is "P-113-2030"; OR No. 2173. 70 Actual Exhibit is "P-113-2034"; OR No. 2177. 71 Actual Exhibit is "P-113-2035"; OR No. 2178.

DECISION CTA CASE NO. 9126 Client Invoice OR OR Exh. !CPA In USD In Php !\1anulifc Asset No. No. Date Reference Report lvlanagcmcn t Annex (Vietnam) Reference Company Limited P-113- 6668 1898 3/27/2014 1604 3-20 943.33 40,736.28 Subtotal $3,427, 719.93 Php150,998,486.35 3-21 Zero-rated sales/ receipts without supporting documents rvlanulifc Asset l'vfanagemen t (Hong Kong) Con_1pany Limited 6839 nil nil nil $ (1,157.11) Php (50,531. 02) $ (1,157.11) Php (50,531.02) Subtotal $3,446,449.48 Php151,761,337.64 Grand Total Upon examination of the zero-rated ORs with the corresponding inward remittances, the Court finds that zero-rated sales amounting to Php519,458,005.83 must be additionally disallowed due to the following findings: Bank Credit Client Invoice OR OR Exh. Memo In USD In PHP I No. No. Date No. Reference Zero-rated sales supported with VAT O-rated ORs but without correspondint.r inward remittance Manulife Singapore Pte P- l.td Reg No. 113- 1980021160 5072 0305 4/29/2013 195 nil $ 345.70 Php 1-1.on-15 I Manulife Asset I :'Vlanagcmcn t (Vietnam) 1'- Company 113- Limited 5126 0359 4/29/2013 89 nil 1,500.00 61 ,065.UO Manulife Asset I\hnagemcnt (Vietnam) 1'- Company 113- ~ 61,011R.08 Limited 5257 0488 4/29/2013 257 nil 1,500.00 r>."lanulifc Asset J\.huutgement I (Vietnam) P- Company 113- 38,820.28 Ii Limited 5577 0807 5/30/2013 541 nil 943.33 Manulifc Asset I ::Vlanagement (\'ietnam) P- I Company 39,008.58 I Limited 113- 5743 0973 6/28/2013 938 nil 943.33 i'vlanulife Asset Management (Vietnam) P- Company 113- J.imitcd 5925 1156 7/30/2013 771 nil 943.33 40,524.22

DECISION CTA CASE NO. 9126 Client Invoice OR OR Exh. Bank Credit In USD In PHP T\.1anulife Asset No. No. Date No. Memo (170.01) (7,372.85) 943.33 42,(139.75 .lvlanagement Reference 943.33 3,099.76 41,144.94 (Vietnam) P- 390.00 141.00 133,858.44 C<H11pany 113- 141.00 16,8�+1.5(, 3,130.42 6,114.77 l.imitcd 6111 1342 8/30/2013 1038 nil 141.00 (,_283.70 Manulifc Asset P- 14,660.89 136,538.57 Management 3,559.68 6,149.% 113- 3,184.95 (Vietnam) I Company 6283 1514 9/30/2013 1366 nil Limited 633,108.35 tvhnulifc Asset P- Ivianagement 155,451.33 (Vietnam) 113- 139,086.86 Company Limited 6435 1666 10/30/2013 1456 nil Manulifc Asset P- :\fanagement 113- (!long Kong) Company 6599 1830 12/30/2013 1688 nil Limited Manulifc P- Singapore Pte Ltd Reg No. 113- 198()()? 1160 Manulifc 6612 1843 12/30/2013 1696 nil Singapore Pte Ltd Reg No. P- 1980021160 Mannlifc 113- Singapore Pte Ltd Reg No. 6049 1280 12/12/2013 1383 nil 198002116[) P- Manulifc Asset Management 113- (!long Kong) 6246 1477 12/20/2013 1389 nil C~ompany P- Limited 113- Manulife Singapore Pte 6418 1649 12/30/2013 1392 nil Ltd Reg No. 1980021160 P- f\..tanulifc Asset 113- I'vlanagemcnt 6477 1708 10/30/2013 1225 nil (Hong Kong) Company P- l.imitcd Ivfanulife Asset 113- I i\bnagcmcnt (Hong Kong) 6672 1903 11/29/2013 1608 nil Company Limited P- Manulifc Asset 113- Management 6786 2016 12/31/2013 1567 nil (Hong Kong) P- 113- 6787 2017 12/31/2013 1568 nil

DECISION CTA CASE NO. 9126 Bank Credit Invoice OR OR Exh. Memo Client No. No. Date No. Reference In USD InPHP Company Limited Manulife Singapore Pte P- Ltd Reg No. 113- 1980021160 6876 2105 12/30/2013 1582 nil 565.50 24,695.40 :v!anulifc Singapore Pt<: P- Ltd Reg No. 113- 1980021160 6877 2106 12/30/2013 1583 nil 813.81 35,539.11 1,350.00 I Manulifc 58,954.54 Smgapore Pte P- Ltd Reg No. 113- 1980021160 6878 2317 12/30/2013 1584 nil Manulifc Singapore Pte P- Ltd Reg No. 113- 1980021160 6891 2119 12/30/2013 1588 nil 150.00 6,661.34 Subtotal $ 39,220.35 Php 1,689,595.38 Amount in OR/invoice cannot be traced to inward remittance I P- John Hancock 113- Life Tn:>urancc 5017 0250 4/29/2013 36 3543057062 $ 27,159.83 Php 1,105,676.68 P- John llancock 113- Life Insurance 5019 0252 4/29/2013 38 3543057062 18,087.69 736,349 86 2,104.77 P- I' I John Hancock 113- 85,685.19 I.ife Insurance 5022 0255 4/29/2013 40 3543057062 P- John Hancock 113- Life Insurance 5027 0260 4/29/2013 276 3543057063 17,448.00 710,308.118 1'- John llancock 113- I .ife Insurance 5030 0263 4/29/2013 46 3543057062 29,699.69 1,209,074.38 P- John Hancock 113- Life Insurance 5031 0264 4/29/2013 47 3543057062 20,631.28 839,899.41 P- John I Iancock 113- Life Insurance 5032 0265 4/29/2013 48 3543057062 29,585.43 I ,204,422.8(, P- John Hancock 113- Life Insurance 5033 0266 4/29/2013 49 3543057062 35,879.31 1,460,646.71 P- John Hancock 113- Life Insurance 5034 0267 4/29/2013 50 3543057062 64,561.29 2,628,290. J:? P- John Hancock 113- Life Insurance 5035 0268 4/29/2013 51 3543057062 16,472.10 670,579.19 1'- John Hancock 113- Life Insurance 5036 0269 4/29/2013 52 3543057062 43,755.68 1,781,293.73

DECISION CTA CASE NO. 9126 Client Invoice OR OR Exh. Bank Credit In USD In PHP No. No. Date No. Memo 6.488.49 264.146.43 John Hancock 150.00 6,106.50 Life Insurance 5037 0270 4/29/2013 P- Reference 1,110.42 45,205 20 3543057062 John I lancock 5038 0271 4/29/2013 113- 3543057062 337,326.91 13,732,578.51 I.ife In~urance 179 3543057062 8,025.00 326,697.7J 5039 0272 4/29/2013 P- 3543057062 31,183.48 John Hancock 113- 3543057062 14,885.00 1,269,479.47 Life Insurance 5040 0273 4/29/2013 53 3543057062 7,410.00 605,968.35 P- 3543057062 2,730.00 301,661.111 John Hancock 5041 0274 4/29/2013 113- 3543057062 16,380.00 111,138.30 Life Insurance 54 3543057062 13,650.00 666.829.80 I 5042 0275 4/29/2013 3543057062 John Hancock P- 3543057062 36,671.65 I Life Insurance 5043 0276 4/29/2013 3543057062 14,091.35 113- 3543057062 39,441.35 I John 1-1 an cock 5044 0277 4/29/2013 180 3543057062 11,104.02 Life Insurance P- 3543057062 2,260.50 I 5045 0278 4/29/2013 113- 3543057062 2,260.50 John Hancock 181 3543057062 6,825.00 555,691.50 I L,ifc Insurance 5046 0279 4/29/2013 P- 3543057062 1,492,902.87 113- John Hancock 5047 0280 4/29/2013 182 573,658.86 Life Insurance P- 1,605,(,57.36 I 5048 0281 4/29/2013 113- John llancock 183 452,044.65 Life Insurance 5049 0282 4/29/2013 P- 92,024.96 113- 92,024.96 John I Iancock 5050 0283 4/29/2013 184 277,845.751 I.ifc Insurance P- 5051 0284 4/29/2013 113- John Hancock 185 Life Insurance 5052 0285 4/29/2013 P- 113- John Hancock 5053 0286 4/29/2013 186 Life Insurance P- 5054 0287 4/29/2013 113- John Hancock 287 Life Insurance P- 113- John Hancock 55 ] .ifc Insurance P- 113- John Hancock 187 Life Insurance P- 113- John Hancock 291 Life Insurance P- John Hancock 113- Life Insurance 188 John Hancock P- Life Insurance 113- 189 P- 113- 190 P- 113- 191

DECISION CTA CASE NO. 9126 ~Client Invoice OR OR Exh. Bank Credit In USD In PHP Manulifc Asset No. No. Date No. Memo .tvfanagement 3,045.09 124,900 +6 (!long Kong) Reference Limited 3,134.15 I fvhnulifc Asset 1'- 3544122140 f\.'lanagcmcn t 113- 12,758.00 128,553.43 (Hong Kong) 5063 0296 4/29/2013 62 40,968.00 Limited 17,943.51 519,378.18 0.1anulife Asset p. 3543269129 21,954.12 1,667,807.28 i'v1anagcmcnt 4,561.26 (I Iong Kong) 113- 16,575.53 730,480.29 Limited 5064 0297 4/29/2013 193 7,252.20 893,752.23 4,701.79 185,688.WJ John Hancock P- 3543234135 1,874.67 674,789.83 J.ifc Insurance 113- 3543057062 15,430.67 5074 0307 4/29/2013 67 3543057062 16,931.70 295,237.116 John Hancock P- 3543057062 191,409.87 Life Insurance 113- 3543057062 (130.91) 5081 0314 4/29/2013 197 3543057062 (2,125.30) , John Hancock P- 3543057062 Life Insurance 113- 3543057062 6,669.00 76,317.821 5087 0320 4/29/2013 410 3543057062 16,491.51 628,182.58 John I Iancock 3543057062 689,289.51 l.ifc Insurance 1'- 3543057062 (5,329.34) 113- 3543057062 John Hancock 5091 0324 4/29/2013 199 3543057062 ~' T.ife Insurance 3543057062 P- 3543057062 (99,497.70) John Hancock 113- J.ifc Insurance 5098 0331 4/29/2013 201 , John Hancock !'- 271,494.991 I.ifc Insurance 113- 5100 0333 4/29/2013 202 I John Hancock J.ife Insurance P- 671,369.371 113- John I Iancock 5101 0334 4/29/2013 203 Life Insurance P- John Hancock 113- 5102 0335 4/29/2013 204 Li fc Insurance 1'- John Hancock 113- Life Insurance 5103 0336 4/29/2013 205 John Hancock P- Life Insurance 113- 5104 0337 4/29/2013 206 John Hancock P- Life Insurance 113- 5105 0338 4/29/2013 207 John Hancock P- Life Insurance 113- 5108 0341 4/29/2013 209 P- 113- 5113 0346 4/29/2013 210 P- 113- 5121 0354 4/29/2013 293 P- 113- 5122 0355 4/29/2013 421

DECISION CTA CASE NO. 9126 Client Invoice OR OR Exh. Bank Credit In USD InPHP No. No. Date No. Memo 7,871.35 320.442 66 John Hancock Life Insurance 5125 0358 4/29/2013 P- Reference 80,398.13 3,27 3,007.87 113- 3543057062 26,671.94 I ,OB4,802.48 Joht1 1-Iancock 5132 0364 4/29/2013 215 3543057062 2,104.77 I.ife Insurance P- 3543077074 32,475.10 85,605.31 5184 0415 4/29/2013 113- 3543077074 18,570.48 1,320,828.89 John Hancock 3543077074 29,005.39 Life Insurance 5192 04?3 4/29/2013 92 3543077074 34,808.27 755,299.49 3543077074 65,719.33 1,179,7118.67 John Hancock 5204 0435 4/29/2013 P- 3543077074 17,005.30 1,415,72:170 Life Insurance 113- 3543077074 44,089.70 2,672,939.88 5205 0436 4/29/2013 220 3543077074 6,488.49 Johtl Hancock P- 3543077074 1,110.42 691 ,(J40.41 5206 0437 4/29/2013 113- 3543077074 1,110.42 1,793,218.48 1.ifc Insurance 221 3543077074 347,563.76 5207 0438 4/29/2013 P- 3543077074 8,025.00 263,900.19 John Hancock 113- 3543077074 33,947.89 45,163.116 L.ifc Insurance 5208 0439 4/29/2013 224 3543077074 24,731.49 45,163.116 I P- 3543077074 14,136,13()(,2 John f Iancock 5209 0440 4/29/2013 113- 3543077074 326,393.20 Life Insurance 225 1,380,730.28 5210 0441 4/29/2013 P- 1 ,005,RRIJ.40 John I-Iancock 113- J.ife Insurance 5211 0442 4/29/2013 226 P- John Hancock 5212 0443 4/29/2013 113- Life Insurance 227 5213 0444 4/29/2013 P- John I [ancock 113- Life Insurance 5214 0445 4/29/2013 228 John I Iancock 5215 0446 4/29/2013 P- l ..ife Insurance 113- 5216 0447 4/29/2013 229 John Hancock Life Insurance 5217 0448 4/29/2013 P- 113- John Hancock 230 Life Insurance P- 113- I.John Hancock 231 I.ife Insurance P- John Hancock 113- Life Insurance 232 John Hancock P- Life Insurance 113- 233 John I lancock Life Insurance P- 113- John I Ian cock 234 1.ifc Insurance P- 113- 235 P- 113- 236 P- 113- 237

DECISION CTA CASE NO. 9126 Client Invoice OR OR Exh. Bank Credit In USD In PHP No. No. Date No. Memo 8,190.00 333, 104.(19 John r[ancock 2,730.00 111,034.70 5218 0449 4/29/2013 P- Reference 666,208.18 Life Insurance 113- 3543077074 16,380.00 ' 5219 0450 4/29/2013 238 3543077074 14,980.68 609,294 97 John r lancock P- 3543077074 36,706.06 Life Insurance 5220 0451 4/29/2013 113- 3543077074 14,368.42 1,492,910.71 239 3543077074 37,939.57 584,393.1 II John Hancock 5221 0452 4/29/2013 P- 3543077074 11,104.(12 Life Insurance 113- 3543077074 1,490.22 1,54 3,080.09 5222 0453 4/29/2013 240 3543077074 1,51422 451,623.26 John Hancock 3543077074 1,514.22 60,610.30 Life Insurance 5223 0454 4/29/2013 P- 3543077074 9,555.00 113- 3543077074 6,669.00 I John Hancock 5224 0455 4/29/2013 416 3543077074 18,117.41 Life Insurance P- 3543077074 rd ,s8rJ.43 I 5225 0456 4/29/2013 113- 3543077074 300.00 John Hancock 417 3543077074 61,586.43 Life Insurance 5226 0457 4/29/2013 P- 3,079.89 388,621.44 113- 271,241.90 I John r rancock 5227 0458 4/29/2013 241 3,136.69 736,872.21 I 1�1 .ifc Insurance P- 5228 0459 4/29/2013 113- 12,201.62 I 242 5229 0460 4/29/2013 P- 125,265.-14 I John Hancock 113- Life Insurance 5231 0462 4/29/2013 243 127,575.61 P- John Hancock 5232 0463 4/29/2013 113- Life Insurance 244 5240 0471 4/29/2013 John Hancock P- I.ife Insurance 113- 245 John rlancock P- Life Insurance 113- 246 John Hancock P- Life Insurance 113- 247 John I-I an cock P- Life Insurance 113- 248 John Hancock P- Life Insurance 113- 418 John llancock P- Life Insurance 113- lv1anulife Asset 249 ivlanagcmcnt (I long Kong) P- Limited 113- l'vfanulife Asset 5242 0473 4/29/2013 155 3544122140 lv1anagcmcnt (Hong Kong) P- Limited 113- 5243 0474 4/29/2013 156 3543269129

DECISION CTA CASE NO. 9126 Client Invoice OR OR Exh. Bank Credit In USD lnPHP 1\..hnulifc Asset No. No. Date No. Memo i'vlanagemcn t 12,758.00 518,894.01 (Hong Kong) Reference 40,968.00 I ,666,252.54 Company 16,868.67 Limited 5253 0484 4/29/2013 P- 3543234135 4,561.26 686,083.39 5259 0490 4/29/2013 7,871.35 185,515.79 John Hancock 5265 0496 4/29/2013 113- 3543077074 4,556.01 320,143 94 1.ife Insurance 5276 0507 4/29/2013 159 2,755.26 185,302.27 5278 0509 4/29/2013 3543077074 8,001.85 112,062.07 John Hancock 5279 0510 4/29/2013 P- 17,892.00 325,451.64 I .ife Insurance 5280 0511 4/29/2013 3543077074 18,090.18 727,704.32 5281 0512 4/29/2013 113- 18,232.61 735,764.71 John Hancock 5282 0513 4/29/2013 258 3543077074 18,257.45 741,557.63 Life Insurance 5283 0514 4/29/2013 121,663.10 742,567.92 5284 0515 4/29/2013 P- 3543077074 7,318.64 4,948,287.69 John rlancock 5285 0516 4/29/2013 27,398.18 297,664.09 5289 0520 4/29/2013 113- 3543077074 49,964.49 1,115,824.05 I.ife Insurance 5289 0520 4/29/2013 259 60,493.51 2,034,864.34 5329 0559 4/29/2013 3543077074 2,463,671.42 John llancock 5341 0571 4/29/2013 P- Life Insurance 5342 0572 4/29/2013 3543077074 113- John Hancock 262 3543077074 Life Insurance P- 3543077074 John Hancock Life Insurance 113- 3543077074 263 John Hancock 3543077074 J.ife Insurance P- 3543077074 John Hancock 113- J..ife Insurance 264 3543119022 3543130192 John Hancock P- Life Insurance & 113- 3543134058 John Hancock 265 3543130192 Life Insurance P- & John Hancock 3543134058 Life Insurance 113- 266 John Hancock Life Insurance P- John Hancock 113- Life Insurance 267 i'vfanulife (International) P- Ltd Manulife 113- (International) 268 Ltd P- 113- 269 P- 113- 270 P- 113- 272 P- 113- 272 1'- 113- 396 P- 113- 468 P- 113- 469

DECISION CTA CASE NO. 9126 Client Invoice OR OR Exh. Bank Credit InUSD In PHP Manulifc No. No. Date No. Memo 122,071.42 4,971,994.11 (In tcrnational) 32,241.02 1,313,054.57 Ltd 5343 0573 4/29/2013 P~ Reference 18,084.87 113~ 28,690.65 736,528.22 John Hancock 5349 0579 4/29/2013 3543130192 35,345.66 1,168,461.45 Life Insurancc 466 66,658.62 1,439,494.79 5350 0580 4/29/2013 & 16,631.72 2,714,752.99 John Hancock P~ 42,600.92 Life Insurance 5351 0581 4/29/2013 113~ 3543134058 6,603.05 677,346.93 1,110.42 1,734,97-!.114 John Hancock 5352 0582 4/29/2013 423 3543119022 347,670.02 Life Insurance 3543119022 34,393.89 268,917.20 5353 0583 4/29/2013 P~ 3543119022 32,077.50 45,223.20 John Hancock 113~ 9,486.75 14,159,282.43 Life Insurance 5354 0584 4/29/2013 3543119022 2,661.75 1,400,732.80 424 3543119022 16,465.30 1,306,395.02 John Hancock 5355 0585 4/29/2013 3543119022 14,524.33 386,359.38 Life Insurance P~ 43,060.22 108,402.99 5356 0586 4/29/2013 113~ 3543119022 670,569.27 John Hancock 591,520.92 Life Insurance 5357 0587 4/29/2013 425 3543119022 3543119022 , John rfan cock 5358 0588 4/29/2013 P~ 3543119022 113~ 3543119022 J 1,753,679.59 Li fc Insurance 5359 0589 4/29/2013 3543119022 426 3543119022 John r fan cock 5360 0590 4/29/2013 P~ 3543119022 Life Insurance 5361 0591 4/29/2013 113~ 3543119022 3543119022 John Hancock 5362 0592 4/29/2013 427 3543119022 Life Insurance 5363 0593 4/29/2013 P~ John Hancock 113~ Life Insurance 5364 0594 4/29/2013 428 John f-lancock 5365 0595 4/29/2013 l .ifc Insurance P~ 113~ John Hancock I .ifc Insurance 429 John Hancock P~ Life Insurance 113~ John Hancock 430 Life Insurance P~ John Hancock 113~ Life Insurance 431 John Hancock Life Insurance P~ 113~ John Hancock Life Insurance 471 P~ 113~ 432 P~ 113~ 433 P~ 113~ 434 P~ 113~ 435 P~ 113~ 436 P~ 113~ 437 P~ 113~ 438

DECISION CTA CASE NO. 9126 Client Invoice OR OR Ex h. Bank Credit In USD In PHP No. No. Date No. Memo 14,469.00 589,267 54 John I lancock 31,877.51 Life Insurance 5366 0596 4/29/2013 P- Reference 11,104.02 1,298,250 18 113- 8,025.00 452,224.66 John Hancock 5367 0597 4/29/2013 439 3543119022 1,491.75 326,827.84 Life Insurance 3543119022 1,515.75 60,753.32 5368 0598 4/29/2013 P- 3543119022 1,515.75 61,7311.75 John Hancock 113- 3543119022 9,520.88 61,730.75 J.ife Insurance 5369 0599 4/29/2013 440 3543119022 9,976.50 387,749.36 3543119022 20,754.70 40(,,305.(14 John Hancock 5370 0600 4/29/2013 P- 3543119022 5,310.72 845,260.28 I.ife Insurance 113- 3543119022 216,285 50 5371 0601 4/29/2013 441 3543119022 3,147 28 John Hancock 3543119022 128,176.79 I.ife Insurance 5372 0602 4/29/2013 P- 3543119022 12,758.00 113- 40,968.00 519,584 99 John rfancock 5373 0603 4/29/2013 442 14,470.46 1,668,47139 Li fc Insurance 5375 0605 4/29/2013 P- 1,140.32 589,327.00 113- 8,514.49 46,440.91 John Hancock 5376 0606 4/29/2013 443 346,761.91 J.ifc Insurance 5384 0614 4/29/2013 P- John Hancock l.ife Insurance 113- 465 .John I Iancock P- l.ife Insurance 113- 444 John Hancock Life Insurance P- John Hancock 113- I.ife Insurance 445 iv!anulife Asset P- 1\.hnagemcnt 113- (!-long Kong) 446 Limited P- Manulife Asset 113- lvlanagement 472 (f long Kong) P- Company 113- 1--imitcd 447 John Hancock P- L.ifc Insurance 113- 5386 0616 4/29/2013 399 3543269129 John Hancock Life Insurance P- 113- Iohn Hancock 5394 0624 4/29/2013 358 3543234135 l.i fe Insurance P- 113- John Hancock 5401 0631 4/29/2013 454 3543119022 Life Insurance P- 113- 5407 0637 4/29/2013 455 3543119022 P- 113- 5415 0645 4/29/2013 456 3543119022 P- 113- 5416 0646 4/29/2013 372 3543119022

DECISION CTA CASE NO. 9126 Bank Credit Invoice OR OR Ex h. Memo Client No. No. Date No. Reference In USD In PHP 4,556.01 185,549.02 John Hancock P- 1,874.67 76,348.21 Life Insurance 9,487.30 386,38178 1 Ll- 1,11042 45,223.20 John Hancock 689,563.98 J.ifc Insurance 5417 0647 4/29/2013 457 3543119022 16,931.70 803,(,61.72 19,733.28 (,75,639.28 John Hancock P- 16,589.79 Life Insurance 248,815.97 113- 6,109.48 976,626.75 John Hancock 23,980.30 Life Insurance 5418 0648 4/29/2013 458 3543119022 10,181.55 250.00 5,0 17,13640 John Hancock P- 123,191.83 I.ife Insurance 16,708.49 687,594.15 113- 31,437.10 1,293,711.52 John Hancock l .ife Insurance 5419 0649 4/29/2013 459 3543119022 1,784.55 70,650.97 2,280.63 93,853.35 John Hancock P- 31,145.93 1,281,729.18 Life Insurance 31,145.93 1,281,729.18 ivlanulifc Asset 113- 37,974.52 1,562,741.91 1v1anagcment (I long Kong) 5424 0654 4/29/2013 460 3543119022 J.imitcd P- John Hancock Life Insurance 113- John Hancock 5433 0663 4/29/2013 461 3543119022 Life Insurance P- John I lancock Life Insurance 113- John llancock 5437 0667 4/29/2013 463 3543119022 I .ife Insurance P- John Hancock Life Insurance 113- John Hancock 5441 0671 4/29/2013 464 3543119022 I.ife Insurance P- John Hancock 113- life Insurance 5444 0674 4/29/2013 400 3544122140 P- John Hancock 113- Life Insurance 5445 0675 4/29/2013 401 3543119022 P- John Hancock 113- 1.ifc Insurance 5447 0677 4/29/2013 403 3543119022 John Hancock P- Life Insurance 113- 5451 0681 4/29/2013 473 3543119022 P- 113- 5458 0688 5/30/2013 843 3543149149 P- 113- 5499 0729 5/30/2013 844 3543149149 P- 113- 5500 0730 5/30/2013 845 3543149149 P- 113- 5526 0756 5/30/2013 847 3543149149 P- 113- 5527 0757 5/30/2013 848 3543149149 P- 113- 5528 0758 5/30/2013 849 3543149149 P- 113- 5529 0759 5/30/2013 850 3543149149

DECISION CTA CASE NO. 9126 Client Invoice OR OR E x h. Bank Credit In USD In PHP No. No. Date No. Memo 66,921.83 2,753,992.64 John Hancock 41,241.50 1,697,185.92 Life Insurance 5530 0760 5/30/2013 P- Reference 6,785.72 113- 1,110.42 279,248.53 John 1-1 ancock 5531 0761 5/30/2013 851 3543149149 1,110.42 45,696.43 Life Insurance 3543149149 45,696.43 5532 0762 5/30/2013 P- 3543149149 342,764.33 14,105,568.29 John Hancock 113- 3543149149 8,025.00 330,247.86 Life Insurance 5533 0763 5/30/2013 852 3543149149 33,802.84 1,391,067.35 3543149149 1,235,864.44 John Hancock 5534 0764 5/30/2013 I'- 3543149149 30,031.42 337,038.110 Life Insurance 113- 3543149149 8,190.00 112,34(J.00 5535 0765 5/30/2013 853 3543149149 2,730.00 561,730.00 John Hancock 3543149149 13,650.00 672,208.(19 Life Insurance 5536 0766 5/30/2013 P- 3543149149 16,334.61 1,759,415.31 3543149149 42,753.67 613,671.71 John Hancock 5537 0767 5/30/2013 113- 3543149149 14,912.18 1,155,402.07 Life Insurance 854 3543149149 28,076.19 456,956.86 5538 0768 5/30/2013 P- 3543149149 11,104.02 65,932.70 John Hancock 113- 3543149149 1,602.16 Life Insurance 5539 0769 5/30/2013 855 3543149149 P- 3543149149 John l Iancock 5540 0770 5/30/2013 113- l.ifc Insurance 856 5541 0771 5/30/2013 P- John llancock 113- I..ife Insurance 5542 0772 5/30/2013 857 P- .John Hancock 5543 0773 5/30/2013 113- Life Insurance 858 5544 0774 5/30/2013 John Hancock P- I.ife Insurance 5545 (J775 5/30/2013 113- 859 John [ fancock 5546 0776 5/30/2013 I.ife Insurance P- 5547 0777 5/30/2013 113- John Hancock 860 Life Insurance P- 113- John Hancock 861 Life Insurance P- 113- John Hancock 862 Life Insurance P- 113- John Hancock 863 Life Insurance P- 113- John Hancock 864 Life Insurance P- 113- John Hancock 865 1.ife Insurance P- 113- 866 I'- 113- 867 P- 113- 868

DECISION CTA CASE NO. 9126 Client Invoice OR OR Exh. Bank Credit In USD In PHP No. No. Date No. Memo 1,514.32 62,317.87 John llancock 1,514.32 62,31H7 Life Insurance 5548 0778 5/30/2013 1'- Reference 9,555.00 2,675.00 393,211.00 John Hancock 5549 0779 5/30/2013 113- 3543149149 9,976.50 110,082.62 Life Insurance 869 3543149149 5550 0780 5/30/2013 P- 3543149149 19,357.18 410,556 n John Hancock 113- 3543149149 2,250.00 Life Insurance 5552 0782 5/30/2013 870 3543149149 3,737.17 796,594 OS !'- 3543149149 92,592.86 John Hancock 5553 0783 5/30/2013 113- 3543149149 350.00 153,79344 Life Insurance 871 3543149149 14,403.33 5554 0784 5/30/2013 P- 3543149149 3,109.73 John Hancock 113- 127,972.79 Life Insurance 5561 0791 5/30/2013 872 12,758.00 P- 40,968.00 525,022.08 John Hancock 5562 0792 5/30/2013 113- 14,842.81 1,685,930 74 Life Insurance 873 18,034.87 5563 0793 5/30/2013 !'- 17,946.19 610,816.97 John Hancock 113- 9,372.02 742,177.84 f.ife Insurance 874 4,909.32 738,528.45 P- 385,680.94 John Hancock 113- 202,030 21 Life Insurance 875 P- John Hancock 113- Life Insurance 876 lv1anulifc Asset P- Iv1anagement 113- (llong Kong) 877 ] .imited P- 3543269129 i'v[anulife I\sset I\1anagcment 113- 5566 0796 9/26/2013 789 (Hong Kong) Company P- Limited 113- John 1-1 ancock 5573 0803 8/22/2013 796 3543234135 I .ife Insurance P- John llancock Life Insurance 113- 5579 0809 5/30/2013 879 3543149149 John Hancock l .ife Insurance P- 113- John Hancock 5584 0814 5/30/2013 880 3543149149 Life Insurance P- 113- John Hancock 5596 0826 5/30/2013 881 3543149149 P- Lift> Insurance 113- 5597 0827 5/30/2013 882 3543149149 John Hancock P- Life Insurance 113- 5598 0828 5/30/2013 883 3543149149 P- 113- 5599 0829 5/30/2013 884 3543149149

DECISION CTA CASE NO. 9126 Client Invoice OR OR Exh. Bank Credit In usn InPHP No. No. Date No. Memo 77,147.13 John Hancock 1,874.67 981,731.20 I .ifc Insurance 5600 0830 5/30/2013 P- Reference 23,856.00 698,956.73 3543149149 16,984.60 John Hancock 5601 0831 5/30/2013 113- 3543149149 390,443.09 Life Insurance 3543149149 9,487.74 1 '155,402.117 5602 0832 5/30/2013 885 3543149149 28,076.19 John [ Iancock 3543149149 18,084.87 744,235.46 Life Insurance 5604 0834 5/30/2013 P- 3543149149 126,584.84 5,209,267 56 3543149149 27,199.74 1,124,763.65 John Hancock 5607 0837 5/30/2013 113- 3543171200 Life Insurance 886 3543171200 1,597.14 66,044.93 5609 0839 5/30/2013 3543171200 2,280.63 94,308.61 John Hancock P- 3543171200 29,682.98 1,227,451159 Life Insurance 5616 0846 5/30/2013 3543171200 17,926.66 741,303.24 113- 3543171200 28,954.21 1,197,314.49 John Hancock 5663 0893 6/28/2013 887 3543171200 35,122.56 1,452,388.10 Life Insurance 3543171200 59,075.79 2,442,902.07 5664 0894 6/28/2013 P- 3543171200 17,606.65 728,070.19 John Hancock 3543171200 40,738.11 1,684,602.32 I.ifc Insurance 5688 0918 6/28/2013 113- 3543171200 6,743.07 278,839.43 888 John Hancock 5689 0919 6/28/2013 Life Insurance P- 5690 0920 6/28/2013 John Hancock 113- Life Insurance 5691 0921 6/28/2013 889 John Hancock 5692 0922 6/28/2013 P- Life Insurance 5693 0923 6/28/2013 113- John Hancock 890 J.ife Insurance 5694 0924 6/28/2013 P- John Hancock 5695 0925 6/28/2013 113- Life Insurance 934 5696 0926 6/28/2013 John Hancock P- Life Insurance 113- John Hancock J.ife Insurance 893 John Hancock P- Life Insurance 113- John Hancock Life Insurance 894 John Hancock P- Life Insurance 113- John I lancock 895 Life Insurance P- 113- 896 P- 113- 897 P- 113- 609 P- 113- 898 P- 113- 899 P- 113- 900 P- 113- 901 P- 113- 902

DECISION CTA CASE NO. 9126 Client Invoice OR OR Exh. Bank Credit InUSD In PHP No. No. Date No. Memo 1,110.42 45,918.09 John I Iancock 1,110.42 45,918.09 Life Insurance 5697 0927 6/28/2013 P- Reference 3543171200 343,705.90 14,212,926.38 John I-Iancock 5698 0928 6/28/2013 113- 3543171200 8,025.00 331,849.80 Life Insurance 903 3543171200 5699 0929 6/28/2013 P- 3543171200 32,787.90 1,355,845.24 John flancock 113- 3543171200 33,968.32 1,404,(,57.97 Life Insurance 5700 0930 6/28/2013 904 3543171200 3543171200 8,190.00 338,672.88 John Hancock 5701 0931 6/28/2013 P- 3543171200 2,730.00 112,890.96 J..ifc Insurance 3543171200 13,463.86 556,757.54 5702 0932 6/28/2013 113- 3543171200 18,810.65 John Hancock 905 3543171200 41,645.10 777,858.1111 I l .ifc Insurance 5703 0933 6/28/2013 3543171200 16,50176 P- 3543171200 24,085.93 1,722,108.18 John Hancock 5704 0934 6/28/2013 3543171200 11,104.02 682,.)80.78 Life Insurance 113- 3543171200 2,428.26 996,00138 5705 0935 6/28/2013 906 3543171200 2,260.50 459,173.44 John Hancock 3543171200 2,260.50 100,413.41 I.ife Insurance 5706 0936 6/28/2013 P- 3543171200 7,941.82 93,476.20 93,476.20 John Hancock 5707 0937 6/28/2013 113- 328,4111.14 Life Insurance 907 5708 0938 6/28/2013 P- John Hancock 113- Life Insurance 5709 0939 6/28/2013 908 John I lancock 5710 0940 6/28/2013 P- Life Insurance 5711 0941 6/28/2013 113- John Hancock 909 l.ifc Insurance 5712 0942 6/28/2013 P- 113- John Hancock 5713 0943 6/28/2013 910 Life Insurance 5714 0944 6/28/2013 P- John Hancock Life Insurance 113- 911 John Hancock Life Insurance P- John Hancock 113- Life Insurance 912 John llancock P- Life Insurance 113- John Hancock 913 Life Insurance P- 113- John Hancock 914 I.I fe Insurance P- 113- 936 P- 113- 937 P- 113- 915 1'- 113- 916 P- 113- 917 P- 113- 918

DECISION ITA CASE NO. 9126 Client Invoice OR OR Exh. Bank Credit In USD InPHP No. No. Date No. Memo 9,976.50 412,548.23 John Hancock 19,357.18 800,458.11 Life Insurance 5717 0947 6/28/2013 P- Reference 450.00 18,608.40 3,737.17 154,5.1945 John llancock 5718 0948 6/28/2013 113- 3543171200 150.00 6,202.80 Life Insurance 919 5725 0955 6/28/2013 3543171200 3,147.32 l30,147.9H John Hancock P- Life Insurance 5726 0956 6/28/2013 3543171200 12,758.00 527,568.82 113- 15,381.39 636,051.24 John Hancock 5727 0957 6/28/2013 920 3543171200 18,230.61 753,872.18 Life Insurance 17,946.19 742,110.85 P- 3543171200 387,551.77 John Hancock 9,372.02 1,737,725.59 Life Insurance 113- 42,022.77 313,044.15 I'vfanulife Asset 618 77,52135 lv1anagement 7,570.23 986,493.31 (Hong Kong) P- 1,874.67 712,897.31 23,856.00 353,301.15 Limited 113- 17,239.73 lvlanulifc Asset 921 8,543.75 Ivlanagement P- (I long Kong) Company 113- Limited 922 John Hancock P- Life Insurance 113- John Hancock 5731 0961 9/26/2013 799 3543269129 Life Insurance P- 3543234135 John Hancock 3543171200 1,ife Insurance 113- 3543171200 5739 0969 8/22/2013 801 3543171200 John Hancock 3543171200 Life Insurance P- 3543171200 3543171200 John Hancock 113- 3543171200 Life Insurance 5750 0980 6/28/2013 960 3543171200 3543171200 John llancock P- 3543171200 Life Insurance 113- John Hancock 5764 0994 6/28/2013 945 I.ife Insurance P- John llancock Life Insurance 113- 5765 0995 6/28/2013 946 John rlancock Life Insurance P- John Hancock 113- l.ife Insurance 5766 0996 6/28/2013 947 P- 113- 5767 0997 6/28/2013 948 P- 113- 5768 0998 6/28/2013 949 1'- 113- 5769 0999 6/28/2013 950 P- 113- 5770 1000 6/28/2013 951 P- 113- 5771 lQ()J 6/28/2013 952 P- 113- 5772 1002 6/28/2013 953

DECISION CTA CASE NO. 9126 Client Invoice OR OR Exh. Bank Credit In USD In PHP No. No. Date No. Memo 121,521.21 5,025,145.08 John Hancock P- 6,743.07 Life Insurance 5778 1009 6/28/2013 113- Reference 29,674.40 289,673.41 923 3543171200 18,050.75 1,274,773.18 John Hancock 5786 1017 7/30/2013 3543205213 28,920.09 Life Insurance P- 3543205213 32,907.14 775,43647 5825 1056 7/30/2013 3543205213 63,580.30 1,242,369.01 John Hancock 113- 3543205213 20,827.06 1,413,64744 Life Insurance 5826 1057 7/30/2013 632 3543205213 41,345.05 2,731,32(J.03 3543205213 3,737.17 John Hancock 5827 1058 7/30/2013 P- 3543205213 1,337.50 894,703.09 Life Insurance 3543205213 1,383.00 1,776,128 95 5828 1059 7/30/2013 113- 3543205213 33,020.14 John I-Iancock 671 3543205213 28,665.00 160,543.91 Life Insurance 5829 1060 7/30/2013 3543205213 8,190.00 57,457 24 P- 3543205213 2,730.00 59,411.86 John Hancock 5830 1061 7/30/2013 3543205213 14,673.75 1,418,501.77 Life Insurance 113- 3543205213 15,347.47 1,231,410.68 5831 1062 7/30/2013 672 3543205213 351,83102 John rfancock 3543205213 117,277 21 5832 1063 7/30/2013 P- 3543205213 630,364.99 Life Insurance 659,307.12 5833 1064 7/30/2013 113- John Hancock 673 Life Insurance 5834 1065 7/30/2013 P- John Hancock 5835 1066 7/30/2013 Life Insurance 113- 5836 1067 7/30/2013 674 John flancock Life Insurance 5837 1068 7/30/2013 P- John Hancock 5838 1069 7/30/2013 113- Life Insurance 675 5839 1070 7/30/2013 John Hancock P- Life Insurance 5840 1071 7/30/2013 113- John Hancock 676 Life Insurance P- John Hancock Life Insurance 113- 677 John Hancock Life Insurance P- John I Iancock 113- Life Insurance 678 P- John Hancock 113- T..ife Insurance 679 P- John f-1 ancock 113- J.i fe Insurance 680 P- 113- 681 P- 113- 682 P- 113- 683 P- 113- 684 P- 113- 685 P- 113- 686

DECISION CTA CASE NO. 9126 Client Invoice OR OR Exh. Bank Credit In USD In PHP No. No. Date No. Memo 41,936.50 1,801,536.86 John Hancock 20,338.50 Life Insurance 5841 1072 7/30/2013 P- Reference 17,734.73 873,715.20 3543205213 8,025.00 761,860.67 John Hancock 5842 1073 7/30/2013 113- 3543205213 2,337.39 344,743.44 Life Insurance 687 3543205213 2,260.50 100,411.20 5843 1074 7/30/2013 3543205213 8,241.18 John Hancock P- 3543205213 9,976.50 97,108.11 Li fc Insurance 5844 1075 7/30/2013 3543205213 23,452.18 354,030.25 113- 3543205213 428,577.31 John Hancock 5845 1076 7/30/2013 688 3543205213 3,327.59 1,007,474.79 Life Insurance 3543205213 16,488.90 5847 1078 7/30/2013 P- 18,230.61 142,948.89 John Hancock 19,491.06 708,341.45 Life Insurance 5848 1079 7/30/2013 113- 9,372.02 783,163.02 689 23,158.50 837,310.29 John llancock 5851 1082 7/30/2013 16,932.70 402,609.65 Life Insurance P- 41,718.75 994,858.69 5852 1083 7/30/2013 727,406.51 John llancock 113- 1,792,18261 Life Insurance 690 P- John Hancock 113- Life Insurance 691 John Hancock P- Life Insurance r'v1anulifc Asset 113- I\hnagcmen t 693 (!long Kong) Company P- Limited 113- John Hancock 694 Life Insurance P- John [ Iancock Life Insurance 113- 697 John Hancock Life Insurance P- John Hancock 113- I.ife Insurance 698 John Hancock 5861 P- 3543269129 Life Insurance 5869 113- 3543205213 5883 1092 9/26/2013 707 3543205213 John Hancock 5884 P- 3543205213 Life Insurance 5885 113- 3543205213 5886 1100 7/30/2013 715 3543205213 John Hancock 5887 3543205213 Life Insurance 5888 P- 3543205213 113- 1114 7/30/2013 729 P- 113- 1115 7/30/2013 730 P- 113- 1116 7/30/2013 731 P- 113- 1117 7/30/2013 732 P- 113- 1118 7/30/2013 733 P- 113- 1119 7/30/2013 734

DECISION CTA CASE NO. 9126 Client Invoice OR OR Ex h. Bank Credit In USD In PHP No. No. Date No. Memo 7,196.80 309,165.06 John l Iancock P- 1,874.67 80,533.% 1.ife Insurance 5889 1120 7/30/2013 113- Reference 9,498.30 408,034.47 735 3543205213 John Hancock 5890 1121 7/30/2013 P- 3543205213 339,875.58 14,600, (,(]7. 71 Life Insurance 113- 3543205213 2,280.63 97,972.86 5891 1122 7/30/2013 736 3543205213 555.21 23,851.119 John Hancock 3543205213 9,122.52 Life Insurance 5896 1127 7/30/2013 P- 3543205213 267.86 391,891.46 3543205213 11,506.91 John Hancock 5901 1132 7/30/2013 113- 3543205213 29,562.40 I .ife Insurance 737 3543205213 1,269,961.81 5902 1133 7/30/2013 12,758.00 John Hancock P- 548,066.89 ] .ife Insurance 5917 1148 7/30/2013 6,065.97 113- 120,557.08 260,586.09 John I Iancock 59!9 1150 7/30/2013 742 5,178,973.53 Life Insurance 9,475.01 5927 1158 7/30/2013 P- 30,955.38 410,904.41 John Hancock 1,342,447 35 Life Insurance 113- 3,040.84 747 29,707.84 131,872.64 John Hancock 1,288,345.06 Life Insurance P- 3,001.34 130,159.63 John Hancock 113- Life Insurance 748 Manulife Asset :'v1anagement P- (Hong Kong) Company 113- Limited 763 1\fanulife Asset lvfanagement P- (Hong Kong) 113- Company 765 J.imited P- John Hancock Life Insurance 113- 773 John Hancock 1.ifc Insurance P- 3543234135 113- John I Ian cock 5930 1161 8/22/2013 776 Life Insurance 5940 1171 7/30/2013 P- 3544122140 John Hancock 5945 1176 7/30/2013 3543205213 Life fnsurance 5954 1185 8/30/2013 113- 3543234323 5982 1213 8/30/2013 782 3543234323 John Hancock 5998 1229 8/30/2013 3543234323 Life Insurance 5999 1230 8/30/2013 P- 3543234323 6000 1231 8/30/2013 3543234323 John Hancock 113- Life 1nsurance 787 P- 113- 1258 P- 113- 1259 P- 113- 1260 P- 113- 996 P- 113- 1261

DECISION CTA CASE NO. 9126 Client Invoice OR OR Exh. Bank Credit InUSD In PHP No. No. Date No. Memo 19.353.70 839,315 27 John llancock 29,834.61 Life Insurance 6001 1232 8/30/2013 P- Reference 33,502.98 1,293,842.72 113- 3543234323 63,960.89 1,452,929.56 John Hancock 6002 1233 8/30/2013 1262 3543234323 20,057.94 2,773,803.04 I.ife Insurance P- 3543234323 44,123 92 6003 1234 8/30/2013 113- 3543234323 7,239.43 869,85(,_17 John Hancock 1131 3543234323 3,756.32 1,913,529 71 Life Insurance 6004 1235 8/30/2013 P- 3543234323 5,004.98 113- 3543234323 555.21 313,953.62 John Hancock 6005 1236 8/30/2013 1263 3543234323 1,383.00 162,900.98 Life Insurance P- 3543234323 20,698.61 6006 1237 8/30/2013 113- 3543234323 217,051.8-~- lohn rfancock 1264 3543234323 351,595.71 6007 1238 8/30/2013 P- 3543234323 30,172.11 24,077.89 I.ife Insurance 113- 3543234323 29,675.51 59,976.811 6008 1239 8/30/2013 1265 3543234323 7,138.95 897,640.22 John Hancock 3543234323 2,730.00 15,247,712.30 Life Insurance 6009 1240 8/30/2013 P- 3543234323 15,015.00 113- 3543234323 I John Hancock 6010 1241 8/30/2013 1266 3543234323 Life Insurance 1,308,479 14 6011 1242 8/30/2013 P- 1,286,943.00 John Hancock 113- Life Insurance 6012 1243 8/30/2013 1310 309,596.09 P- John rfancock 6013 1244 8/30/2013 113- 118,.'\92..'\8 I 1267 I.ife Insurance 6014 1245 8/30/2013 P- 651,158.12 113- Iohn Hancock 6015 1246 8/30/2013 1268 P- Life Insurance 6016 1247 8/30/2013 113- 1269 John Hancock 6017 1248 8/30/2013 Life Insurance P- 6018 1249 8/30/2013 John Hancock 113- 1.ife Insurance 1270 John Hancock P- I.ife Insurance 113- 1271 John Hancock Life Insurance P- 113- John Hancock 1132 Li fc Insurancc P- John Hancock 113- J.ife Insurance 1272 P- John Hancock 113- Life Insurance 1273 John Hancock P- I.ife Insurance 113- 1274 P- 113- 1275 P- 113- 1276

DECISION CTA CASE NO. 9126 Client Invoice OR OR Exh. Bank Credit In USD In PHP No. No. Date No. Memo 16,857.28 731,052.59 John Hancock 40,137.17 Life Insurance 6019 1250 8/30/2013 P- Reference 19,296.14 1,740,635.63 113- 3543234323 17,426.36 836,819.(16 John Hancock 6020 1251 8/30/2013 1277 3543234323 9,787.52 755,711.98 Life Insurance 3543234323 8,025.00 42'1,457.08 6021 1252 8/30/2013 P- 3543234323 8,190.00 348,021.57 John Hancock 113- 3543234323 20,910.24 355,177.15 Life Insurance 6022 1253 8/30/2013 1278 3543234323 300.00 906,818.0 I 3543234323 625.00 13,010.15 John llancock 6023 1254 8/30/2013 P- 3543234323 27,104.48 I.ife Insurance 113- 3543308149 3,174.83 6024 1255 8/30/2013 1279 3543234323 14,999.02 137,68340 John [lancock 15,762.11 650,465.11 f.ife Insurance 6025 1256 8/30/2013 P- 20,295.82 683,558.17 113. 7,803.14 880, 172..'\6 John Hancock 6029 1260 8/30/2013 1280 23,039.72 338,400.13 J.ife Insurance 16,932.70 6036 1267 11/4/2013 P- I John Hancock 113- Life Insurance 6037 1268 8/30/2013 1281 999,167.54 734,323.35 John Hancock P- Life Insurance 113- 1282 .John llancock Life Insurance P- 113- John Hancock 1283 l .ife Insurance P- :'\hnulifc Asset 113- lvlanagcment 1284 (Hong Kong) C<>mpany P- I .imitcd 113- 1410 John [ lancock 1.ife Insurance P- 113- John Hancock 1285 I.ife Insurance p. John Hancock Life Insurance 113- 6041 1272 9/26/2013 1255 3543269129 John llancock P- I.ife Insurance 113- 6053 1284 8/30/2013 1256 3543234323 John Hancock Life Tnsurancc P- 113- John I-I ancock 6072 1303 8/30/2013 1288 3543234323 I.ife Insurance P- 113- 6073 1304 8/30/2013 1289 3543234323 P- 113- 6074 1305 8/30/2013 1290 3543234323 P- 113- 6075 1306 8/30/2013 1291 3543234323 P- 113- 6076 1307 8/30/2013 1292 3543234323

DECISION CTA CASE NO. 9126 Client Invoice OR OR Exh. Bank Credit In USD In PHP No. No. Date No. Memo 48,889.21 2,120,186.87 John Hancock P- 4,187.44 I.ife Insurance 6077 1308 8/30/2013 113- Reference 1,376.54 181,597.44 1293 3543234323 3,105.59 59,696.65 John Hancock 6078 1309 8/30/2013 P- 3543234323 1,598.20 Life Insurance 113- 3543234323 1,514.32 134,680.66 6079 1310 8/30/2013 1294 3543234323 1,514.32 69,309.42 John Hancock P- 3543234323 9,976.50 65,671.78 J.ife Insurance 6080 1311 8/30/2013 113- 3543234323 1,874.67 65,671.78 1295 3543234323 John Hancock 6101 1332 8/30/2013 3543234323 123,962.34 432,652.61 Life Insurance P- 3543234323 29,230.81 81,29914 6102 1333 8/30/2013 3543234323 27,829.77 John Hancock 113- 3543234323 3,040.84 5,375,896.36 Life Insurance 6103 1334 8/30/2013 1296 3543266111 32,750.68 1,267,657.62 3543266111 3,001.34 1,240,241.10 John Hancock 6104 1335 8/30/2013 P- 3543266111 23,137.98 Life Insurance 3543266111 31,987.04 135,515.84 6113 1344 8/30/2013 113- 3543266111 47,183.70 1,459,542.77 John Hancock 1297 3543266111 Life Insurance 6123 1354 8/30/2013 3543266111 133,755.52 P- 1,031,15023 John Hancock 6123 1354 8/30/2013 1,425,510.95 Life Insurance 113- 2,102,754.14 6169 1400 9/30/2013 1298 John 1-Iancock Life Insurance 6194 1425 9/30/2013 P- 113- John Hancock 6195 142(, 9/30/2013 1299 I.ife Insurance P- 6196 1427 9/30/2013 113- John Hancock 1300 Life Insurance 6197 1428 9/30/2013 P- John Hancock 6198 1429 9/30/2013 Life Insurancc 113- 6199 1430 9/30/2013 1301 John Hancock I .ifc Insurancc P- John llancock 113- Life Insurance 1045 1'- John Hancock 113- Life Insurance 1045 John Hancock P- Life Insurance 113- 1317 John Hancock I..ife Insurance P- John Hancock 113- 1318 I .ifc Insuranc<: P- 113- 1319 P- 113- 1320 P- 113- 1321 P- 113- 1322 P- 113- 1323

DECISION CTA CASE NO. 9126 Client Invoice OR OR Exh. Bank Credit In USD In PHP No. No. Date No. Memo 64,923.09 2,893,314.78 John Hancock P- 20,312.52 Life Insurance 6200 1431 9/30/2013 113- Reference 45,948.74 905,2.'\2.86 1324 3543266111 7,177.39 2,047,717.82 John Hancock 6201 1432 9/30/2013 3543266111 4,492.15 Life Insurance P- 3543266111 3,213.11 319,862.29 6202 1433 9/30/2013 3543266111 555.21 200,193.86 John Hancock 113- 3543266111 1,383 00 143,193.10 Life Insurance 6203 1434 9/30/2013 1370 3543266111 3543266111 333,538.11 24,74308 John Hancock 6204 1435 9/30/2013 P- 3543266111 33,020.24 61,633 76 Life Insurance 3543266111 32,123.51 14,864,214.59 6205 1436 9/30/2013 113- 3543266111 9,241.05 1,471,555 78 John Hancock 1325 3543266111 2,730.00 1,431,592.77 Life Insurance 6206 1437 9/30/2013 3543266111 15,015.00 411,829.85 P- 3543266111 16,230.33 121,663.18 John Hancock 6207 1438 9/30/201.) 113- 3543266111 39,711.16 669,147.47 Life Insurance 1326 3543266111 18,799.77 723,308.97 6208 1439 9/30/2013 P- 3543266111 17,554.57 1,769,738.41 John Hancock 113- 3543266111 837,816.75 Life Insurance 6209 1440 9/30/2013 1327 3543266111 782,324 08 John Hancock 6210 1441 9/30/2013 P- Life Insurance 6211 1442 9/30/2013 113- John Hancock 1328 Life Insurance 6212 1443 9/30/2013 P- John Hancock 6213 1444 9/30/2013 113- Life Insurance 1329 6214 1445 9/30/2013 John Hancock P- Life Insurance 6215 1446 9/30/2013 113- John Hancock 6216 1447 9/30/2013 1330 Life Insurance 6217 1448 9/30/2013 P- John Hancock 113- Life Insurance 1367 John Hancock P- 1.ifc Insurance 113- John I!ancock 1331 Life Insurance P- John Hancock 113- Life Insurance 1332 John I [ancock P- Life Insurance 113- John I-Iancock 1333 Life Insurance P- 113- 1334 P- 113- 1335 P- 113- 1144 P- 113- 1336 P- 113- 1337 P- 113- 1338

DECISION CTA CASE NO. 9126 Client Invoice OR OR Exh. Bank Credit In usn lnPHP No. No. Date No. Memo 406,547.53 John I Iancock 9,122.52 357,636 26 Life Insurance 6218 1449 9/30/2013 P- Reference 8,025.00 359,45942 3543266111 8,065.91 444,605.38 John Hancock 6219 1450 9/30/2013 113- 9,976.50 924,325.51 Life Insurance 1339 3543266111 20,740.94 27,853.29 6220 1451 9/30/2013 3543266111 7,958.0? John Hancock P- 625.00 Life Insurance 6222 1453 9/30/2013 3543266111 178.57 140,506.26 113- 3543266111 630,772.31 John Hancock 6223 1454 9/30/2013 1340 3543266111 3,152.82 34,00642 Life Insurance 14,153.90 638,444 67 6230 1461 9/30/2013 P- 3543266111 927,327.87 John Hancock 763.07 417,666.57 Life Insurance 6232 1463 9/30/2013 113� 14,326.06 1,027,773.52 1341 20,808.31 754,610.28 John llancock 9,372.02 2,487,2(,7.27 l.ifc Insurance P- 23,062.21 203,039.80 16,932.70 John Hancock 113- 55,811.79 I.ifc Insurance 1342 4,556.01 :V1anulife Asset Ivhnagemcnt P- (Hong Kong) Company 113- Limited 1343 John Hancock P- Life Insurance 113- John Hancock 1371 Life Insurance P- John Hancock Life Insurance 113- John Hancock 1372 Life Insurance 6235 1466 9/26/2013 P- 3543269129 John Hancock 6253 1484 9/30/2013 3543266111 1.ife 1nsurancc 6263 1494 9/30/2013 113- 3543266111 6274 1505 9/30/2013 1315 3543266111 John Hancock 6275 1506 9/30/2013 3543266111 Life Insurance 6276 1507 9/30/2013 P- 3543266111 6277 1508 9/30/2013 113- 3543266111 John Hancock 6278 1509 9/30/2013 1344 3543266111 Life Insurance 6279 1510 9/30/2013 3543266111 6280 1511 9/30/2013 P- 35432(,6111 John Hancock Life Insurance 113- 1345 John Hancock Life Insurance P- 113- 1347 P- 113- 1.148 P- 113- 1349 P- 113- 1350 P- 113- 1351 P- 113- 1352 1'- 113- 1353

DECISION CTA CASE NO. 9126 Client Invoice OR OR Ex h. Bank Credit InUSD InPHP No. No. Date No. Memo 1,874.67 83,545.17 John Hancock P- 9,509.70 Life Insurance 6281 1512 9/30/2013 113- Reference 5,470.16 423,802.31 1354 3543266111 1,464.36 243,779.14 John Hancock 6294 1525 9/30/2013 3543266111 1,387.47 Life Insurance P- 3543266111 1,38747 65,259.59 6295 1526 9/30/2013 3543266111 61,832.97 John Hancock 113- 3543266111 126,413.61 61,832.97 Life Insurance 6297 1528 9/30/2013 1355 3543266111 8,256.77 5,629,575.31 3543266111 360,133.03 John Hancock 6298 1529 9/30/2013 P- 3543308149 28,592.89 I ,247,127.39 Life Insurance 3543308149 76.93 3,35543 6299 1530 9/30/2013 113- 3543308149 132,631.39 John I lancock 1356 3543308149 3,040.84 1,378,871.62 Jjfe Insurance 6306 1537 9/30/2013 3543308149 31,613.39 49,090.59 P- 3543308149 932,980.75 John Hancock 6318 1549 11/4/2013 3543308149 I, 125.50 1,341,016.25 Life Insurance 113- 3543308149 21,39045 2,037,475.01 6352 1583 11/4/2013 1357 3543308149 30,745.48 3,243,891.R8 John Hancock 3543308149 46,713.19 882,988.17 Life Insurance 6356 1587 11/4/2013 P- 3543308149 74,372.71 113- 20,244.27 John Hancock 6375 1606 11/4/2013 1149 I.ifc Insurance 6376 1607 11/4/2013 P- John Hancock Life Insurance 6377 1608 11/4/2013 113- 1358 John Hancock 6378 1609 11/4/2013 Life Insurance P- 6379 1610 11/4/2013 John Hancock 113- Life Insurance 6380 1611 11/4/2013 1127 .John Hancock 6381 1612 11/4/2013 P- Life Insurance 6382 1613 11/4/2013 113- John I Iancock 1419 Life Insurance P- John Hancock Life Insurance 113- 1420 John Hancock Life Insurance P- John !lancock 113- L.ifc Insurance 1421 John Hancock P- Life Insurance 113- .John I !ancock 1423 Life Insurance P- 113- 1424 P- 113- 1425 P- 113- 1426 P- 113- 1476 P- 113- 1427 P- 113- 1428 P- 113- 1429

DECISION CTA CASE NO. 9126 Client Invoice OR OR Exh. Bank Credit In USD In PHP No. No. Date No. Memo 46,595.86 2,032,35746 John Hancock 6,743.07 294,110.43 I ...ife I nsurancc 6383 1614 11/4/2013 P- Reference 4,491.67 195,911.80 3543308149 2,856.17 124,576.70 John Hancock 6384 1615 11/4/2013 113- 3543308149 555.21 24,216.43 Life Insurance 1430 3543308149 1,383.00 60,321.89 6385 1616 11/4/2013 3543308149 15,472,47H5 John Hancock P- 3543308149 354,73743 1,535,026 37 Life Insurance 6386 1617 11/4/2013 3543308149 35,193.55 1,241,342.07 113- 3543308149 28,460.25 357,220 74 John llancock 6387 1618 11/4/2013 1431 3543308149 8,190.00 119,073.58 Life Insurance 3543308149 2,730.00 625,136.30 6388 1619 11/4/2013 P- 3543308149 14,332.50 667,173.63 John Hancock 3543308149 15,2%.29 1,964,711.89 Life Insurance 6389 1620 11/4/2013 113- 3543308149 45,044.95 821,607.70 1432 3543308149 18,837.00 712,555.()6 John Hancock 6390 1621 11/4/2013 3543308149 16,336.75 397,894.18 Life Insurance P- 3543308149 9,122.52 350,023.99 6391 1622 11/4/2013 3543308149 8,025.00 John l!ancock 113- 3543308149 I .ifc Insurance 6392 1623 11/4/2013 1433 3543308149 John ~I ancock 6393 1624 11/4/2013 P- Life Insurance 6394 1625 11/4/2013 113- .John !-Ian cock 1434 Life Insurance 6395 1626 11/4/2013 P- John Hancock 6396 1627 11/4/2013 113- Life Insurance 1435 6397 1628 11/4/2013 P- .John Hancock 113- Life Insurance 6398 1629 11/4/2013 1436 John Hancock 6399 1630 11/4/2013 P- Life Insurance 6400 1631 11/4/2013 113- John Hancock 1437 Life Insurance P- John Hancock I .ifc Insurance 113- 1438 John IIancock Life Insurance P- John llancock 113- ] .ife Insurance 1439 John llancock P- 1...ifc Insurance 113- 1440 John Hancock Life Insurance P- 113- 1441 P- 113- 1442 P- 113- 1443 P- 113- 1444 P- 113- 1445 1'- 113- 1446 P- 113- 1447

DECISION CTA CASE NO. 9126 Client Invoice OR OR Exh. Bank Credit In USD In PHP No. No. Date No. Memo 2,321.72 101,265.76 John Hancock P- 2,125.82 92,721.24 Life Insurance 6401 1632 11/4/2013 113- Reference 2,125.82 92,721.24 1448 3543308149 2,125.82 92,721.24 John llancock 6402 1633 11/4/2013 3543308149 7,712.25 336,382.86 Life Insurance P- 3543308149 9,976.50 435,141.97 6403 1634 11/4/2013 3543308149 John Hancock 113- 3543308149 23,452.18 1,022,90(J.61 Life Insurance 6404 1635 11/4/2013 1449 3543308149 20,173.52 879,902.29 3543308149 66,565 62 John Hancock 6405 1636 11/4/2013 P- 3543308149 1,526.15 290,094.65 Life Insurance 3543308149 6,651.00 694,(137.15 6408 1639 11/4/2013 113- 3543308149 15,912.19 953,348.44 John II ancock 1450 3543308149 21,857.42 408,776.55 Life Insurance 6409 1640 11/4/2013 3543308149 9,372.02 P- 3543308149 23,319.24 1,017,108.20 John Hancock 6437 1668 11/4/2013 3543308149 17,588.10 767,134.81 Life Insurance 113- 3543308149 54,618.00 6445 1676 11/4/2013 1451 3543308149 4,556.01 2,382,256 70 John llancock 3543308149 1,874.67 198,718.10 l..ifc Insurance 6452 1683 11/4/2013 P- 3543308149 81,766.91 John Hancock 6460 1691 11/4/2013 113- Life Insurance 1452 6461 1692 11/4/2013 John llancock P- J.ife Insurance 6462 1693 11/4/2013 113- John Hancock 6463 1694 11/4/?013 1453 Life Insurance 6464 1695 11/4/2013 1'- John Hancock 113- Life Insurance 6465 1690 11/4/2013 1454 1'- John Hancock 6466 1697 11/4/2013 113- Life Insurance 1457 6467 1698 11/4/2013 1'- ]ohn Hancock 113- Life Insurance 1458 1'- John Hancock 113- Life Insurance 1238 1'- John Hancock 113- Life Insurance 1461 1'- Iohn Hancock 113- 1462 Life Insurance P- 113- John I fancock 1463 Life Insurance 1'- 113- John llancock 1464 Life Insurance 1'- 113- 1465 P- 113- 1466 1'- 113- 1467 1'- 113- 1468

DECISION CTA CASE NO. 9126 Client Invoice OR OR Exh. Bank Credit In USD InPHP No. No. Date No. Memo 5,470.16 238,590.31 John Hancock 178.57 7,788.63 l.ife Insurance 6468 1699 11/4/2013 P~ Reference 625.00 27,260.44 113~ 3543308149 John Hancock 6481 1712 11/4/2013 3543308149 131,274.83 5,725,774.37 Life Insurance 1469 3543308149 30,083.76 1,299,121.66 6482 1713 11/4/2013 3543308149 244.43 John Hancock P~ 3543333164 30,025.14 10,555.34 Life Insurance 6491 1722 11/4/2013 113~ 3543333164 21,263.44 1,2%,590.24 3543333164 30,267.74 John Hancock 6533 1764 11/29/2013 1470 3543333164 77,332.76 918,229.48 Life Insurance 3543333164 20,312.52 1,307,1166.56 6537 1768 11/29/2013 P~ 3543333164 46,338.67 3,339,498.24 John Hancock 113~ 3543333164 45,542.90 I.ife Insurance 6558 1789 11/29/2013 3543333164 6,965.72 877,165.44 1471 3543333164 4,491.67 2,001,065.35 John Hancock 6559 1790 11/29/2013 3543333164 ?,852.76 1,966,70123 Life Insurance P~ 3543333164 1,383.00 6560 1791 11/29/2013 113~ 3543333164 300,804.08 John Hancock 3543333164 361,432.09 193,965.97 Life 1nsurancc 6561 1792 11/29/2013 1244 3543333164 123,192.12 59,722.76 John Hancock 6562 1793 11/29/2013 P~ 15,607,897 96 Life Insurance 113~ 6563 1794 11/29/2013 John Hancock 1613 I.ife Insurance 6564 1795 11/29/2013 P~ John Hancock 6565 1796 11/29/2013 113~ I.ife Insurance 6566 1797 11/29/2013 1531 John llancock I.ife Insurance 6567 1798 11/29/2013 P~ 113~ John Hancock 6568 1799 11/29/2013 L.ife Insurance 1614 6569 1800 11/29/2013 John Hancock P~ Life Insurance 113~ John Hancock 1615 Life Insurance P~ John Hancock 113~ I.ife Insurance 1546 John I Iancock Life Insurance P~ 113~ john Hancock Life Insurance 1616 John llancock P~ Life Insurance 113~ 1617 P~ 113~ 1618 P~ 113~ 1619 P~ 113~ 1620 P~ 113~ 1621 P~ 113~ 1622 P~ 113~ 1623 P~ 113~ 1624

DECISION CTA CASE NO. 9126 Client Invoice OR OR Exh. Bank Credit In USD In PHP No. No. Date No. Memo 36,948.24 1,595,553.84 John Hancock P- 30,521.25 1,318,014.00 I .ife Insurance 6570 1801 11/29/2013 113- Reference 8,190.00 1665 3543333164 2,730.00 353,(>72.76 John Hancock 6571 1802 11/29/2013 3543333164 14,777.61 117,890.92 Life Insurance P- 3543333164 15,048.92 638,148.73 6572 1803 11/29/2013 3543333164 40,933.60 649,864 84 John Hancock 113- 3543333164 21,424.57 1,767,655.58 Life Insurance 6573 1804 11/29/2013 1666 3543333164 16,323.73 925,187.M 3543333164 9,122.52 704,915.58 John Hancock 6574 1805 11/29/2013 P- 3543333164 8,025.00 393,942.22 I.ife Insurance 3543333164 4,041.99 346,54748 6575 1806 11/29/2013 113- 3543333164 2,260.50 174,5+7 22 John I lancock 1625 3543333164 1,655.67 97,(> 16.27 Life Insurance 6576 1807 11/29/2013 3543333164 2,260.50 71,497.(,() P- 3543333164 7,655.87 97,616.27 John Hancock 6577 1808 11/29/2013 3543333164 9,976.50 330,607.16 Life In,;urance 113- 3543333164 23,502.06 430,820.06 6578 1809 11/29/2013 1626 3543333164 1,014, 9110.90 John Hancock 3543333164 Life Insurance 6579 1810 11/29/2013 P- 3543333164 John Hancock 6580 1811 11/29/2013 113- Life Insurance 1627 6581 1812 11/29/2013 John Hancock P- I.ife Insurance 6582 1813 11/29/2013 113- John !-lancock 6583 1814 11/29/2013 1547 Life In11urance 6584 1815 11/29/2013 1'- John Hancock 113- Life Insurance 6585 1816 11/29/2013 1548 John Hancock 6588 1819 11/29/2013 P- l.ife Insurance 6589 1820 11/29/2013 113- Iohn Hancock 1628 I.ife Insurance 1'- John Hancock 113- Life Insurance 1629 John I Iancock P- I.ifc Insurance 113- John I Iancock 1630 Life Insurance P- John l lancock Life Insurance 113- 1631 John Hancock I.ife Insurance P- 113- 1632 1'- 113- 1633 P- 113- 1634 P- 113- 1635 P- 113- 1636 P- 113- 1671 P- 113- 1672

DECISION CTA CASE NO. 9126 Client Invoice OR OR Exh. Bank Credit In USD In PHP No. No. Date No. Memo John llancock 1'- Life Insurance 6614 1845 11/29/2013 113- Reference 21,194.00 915,230.83 1683 3543333164 John Hancock 6622 1853 11/29/2013 P- 3543333164 1,526.15 65,904.48 Life Insurance 113- 3543333164 6628 1859 11/29/2013 1552 3543333164 6,651.00 287,213 37 John Hancock 1'- 3543333164 Life Insurance 6635 1866 11/?9/2013 113- 3543333164 15,495.69 6C9,157 93 1639 3543333164 John I-lancock 6636 1867 11/29/2013 1'- 3543333164 22,822.37 985,549.52 Life Insurance 113- 3543333164 6637 1868 11/29/2013 1641 3543333164 9,725.31 419,972 79 John Hancock 1'- 3543333164 Life Insurance 6638 1869 11/29/2013 113- 3543333164 23,319.24 1,007,006.10 1642 3543333164 John Hancock 6639 1870 11/29/2013 1'- 3543333164 17,614.55 760,657.69 Life Insurance 113- 3543333164 6640 1871 11/29/2013 1643 3543333164 59,678.06 2,577,106 73 John Hancock 1'- 3543333164 Life Insurance 6641 1872 11/29/2013 113- 4,146.74 179,070.69 1644 Subtotal John Hancock 6642 1873 11/29/2013 1'- 1,538.18 66,423 98 Life Insurance 113- 6643 1874 11/29/2013 1645 10,514.93 454,071.34 John Hancock 1'- Life Insurance 6644 1875 11/29/2013 113- 5,470.16 236,220.58 1646 John Hancock 6652 1883 11/29/2013 1'- 89.29 3,855.85 I .ife Insurance 113- 6653 1884 11/29/2013 1647 6627 2,861.77 John Hancock 1'- Life Insurance 6654 1885 11/29/2013 113- 347.28 14,996.76 1648 John Hancock 6677 1908 11/29/2013 1'- 132,684.72 5,729,788 90 1.ife Insurance 113- 1649 John Hancock 1'- Life Insurance 113- 1650 John Hancock 1'- Life Insurance 113- 1651 John Hancock 1'- 1.ife Insurance 113- 1667 John Hancock 1'- I .ife Insurance 113- 1668 John Hancock 1'- Life Insurance 113- 1563 $12,262,306.94 Ph_p517, 768,410.45 GRAND TOTAL $12,301,527.29 Php519,458,005.83

DECISION CTA CASE NO. 9126 It can be noted that bulk of the disallowances was due to the fact that the Court is unable to trace the sales invoice amount to the corresponding amount per bank credit memos. Even after cumulating all the invoices in CY 2013 with the same bank credit memo reference, the aggregate amount of these invoices does not reconcile with the corresponding bank credit memo. Majority of the discrepancies show that the amount per bank credit memo is higher than the total of the invoices. Further, petitioner did not provide any reconciliation to explain the noted discrepancies nor any schedule to show the breakdown of invoices which comprise a particular bank credit memo reference. As such, the Court cannot ascertain whether or not these inward remittances actually correspond to the same zero-rated sales reported in CY 2013. Considering the foregoing, out of petitioner's Php754,517,467.03 reported zero-rated sales to qualified non-resident foreign client, only the amount of Php83,298,123.63 represents petitioner's valid zero-rated sales, as computed below: Sales from qualified zero-rating clients per Php754,517,467.03 SLS Php151,761,337.64 Less: Php519,458,005.83 671,219,343.47 Exceptions noted by the ICPA Php83,298,123.56 Exceptions noted by the Court Allowed zero-rated sales for CY 2013 Input taxes were incurred orpaid. In its Quarterly VAT Returns72 for the four quarters of CY 2013, petitioner reflected a total amount ofPhp63,188,333.66 input VAT arising from its amortization of input VAT on purchases of capital goods exceeding Php1Million, domestic purchases of capital goods not exceeding Php1Million, domestic purchases of goods other than capital goods, and domestic purchases of services, detailed as follows: Exhibit P-6 P-8-c P-9 P-11 4th Quarter CY2013 1st Quarter 2nd Quarter 3rd Quarter Total Input tax on domestic purchases ofcapital goods exceeding PJM: 72 Exhibits "P-6", "P-8-c", "P-9", and "P-11", Docket, Vol. 6, pp. 2779, 2783, 2785 to 2786, and 2792 to 2793

DECISION CTA CASE NO. 9126 Exhibit P-6 P-8-c P-9 P-11 2nd Quarter 3rd Quarter 4th Quarter CY2013 1st Quarter Php1,232,139.57 Php4,826,265.68 Total Input tax on Php2,893,859.52 Php - Php8,952,2C>4.77 domestic 18,314,966.07 17,807,398.86 purchases of 19,898,300.57 20,367,604.16 76,388,269.6(i capital goods 17,807,398.86 20,814,364.07 exceeding P1 t\1 20,367,604.16 18,314,966.07 Php_1,739,706.18 Php_ 1,819,300.47 77,304,333.1() Php 2,424,555.93 Php 2,052,638.09 Php 8,036,201.27 Add: Input tax Php 178,643.96 Php 223,319.00 deferred on Php 326,908.13 273,725.74 450,924.98 Php1,561 ,168.28 capital goods 1,190,770..--1-7 exceeding PH\1 280,410.33 15,960,114.54 19,378,760.44 from previous 8,408,272.78 Php/6,412,484.24 Php20,U53,00-1.42 52,400, 19.H>4 quarter Php 9,015,591.24 Php18,152,191.02 PhpJ1,872,304.89 Php55, 152,132.39 Less: Input tax Php11,068,229.33 Php63,188,333.66 on domestic purchases of capital goods exceeding Pl.L\1 deferred to succeeding penod Amorti::;_ed portion of input tax on domestic purchases ~/rapt!a! goodJ exaeding_P1 AI Input tax on current purchases: Input tax on domestic purchases of capital goods not exceeding Pll\1 Php 832,297.19 Input tax on domestic purchases of goods other than capital goods 185,709.42 Input tax on domestic purchases of serviCes 8,653,045.88 Total mrrenl input la.Y Php 9,671,052.49 Total input VAT credits Php12,095,608.42 In support of its input VAT claim, petitioner submitted suppliers' sales invoices (SI) and official receipts,73 which were likewise examined by the Court- commissioned IC:P A. The following shows the summary of the ICPA's examination of the supporting documents as compared to the amounts declared in the Quarterly VAT Returns: ~ 73 Exhibits "P-llS-1" to "P-115-684" and "P-116-1" to "P-116-79".

DECISION CTA CASE NO. 9126 Input lax on mrrenl domestic purchases of ICPA Amount Amount per Unaccounted Report" Accounted by VAT Returns Php (0.01) goods Annex Php 2,751,938.75 Reference ICPA ~ Input tax on current domestic purchases of Php 2,751,938.74 52,400,193.64 Annex 6 (9,101.29)_ Jemzte.r 52,400,193.64 8,036,201.27 Php(9,101.30) Annex 7 Php63,188,333.66 /lmorti::;.ation of� input taxeJ on domeJtic 799,149.38 Annexes 8 2,935,738.11 purchase.r ofcapital,~ood.r e.�weeding PIM and 13-1 hom 2013 purchases Annexes 9 730,028.30 and 13-2 f'rom 2012 purchases Annexes 746,331.32 10 and 13- Prom 2011 purchases 1,511,603.54 3 f'rom 2010 purchases 1,304,249.33 Annexes 8,027,099.98 From 2009 purchases Php63,179,232.36 11 and 13- From 2008 purchases 4 Total amortization qfinput taxe.r Total input taxes Annexes 12 and 13- 5 Annex 13- 6 The unaccounted amount of Php9,101.30 as computed above shall be disallowed instantaneously. Pursuant to the examination performed by the ICPA, the following exceptions in the aggregate amount ofPhp21,397,963.48, as detailed below, was noted, hence, should be disallowed for not being properly substantiated by VAT invoices or official receipts as prescribed under Sections 110(A) and 113(A) and (B) and 237 and 238 of the NIRC of 1997, as amended, in relation to Sections 4.110-1, 4.110-8 and 4.113-1 of RR No. 16-05, as amended, to wit: Description ICPA Amount Report Input tax claimed on purchase of goods other than capital Annex Php 264.00 goods and capital goods not exceeding 1 million supported Reference by registered invoices not dated within the quarter but within the period of claim without Petitioner's TIN 6-3 74 Exhibit "P-111", Docket, Vols. 3 and 4, pp. 1498 to 1673.

DECISION CTA CASE NO. 9126 Description ICPA Amount Report 15,909.51 Input tax claimed on purchase of goods other than capital Annex goods and capital goods not exceeding 1 million supported Reference 149,635.98 by registered invoices not dated within the quarter but within 3,579.48 the period of claim with no BIR authority to print 6-15 54,443.27 Input tax claimed on purchase of goods other than capital 4,250.68 goods and capital goods not exceeding 1 million supported 6-4 by registered invoices without Petitioner's TIN 6-16 221,114.41 6-28 53,720.25 Input tax claimed on purchase of goods other than capital 6-37 goods and capital goods not exceeding 1 million supported 109,679.96 by registered invoices but Petitioner's name is altered with 6-38 112,579.40 countersignature 155,103.26 Input tax claimed on purchase of goods other than capital 6-5 159,240.88 goods and capital goods not exceeding 1 million supported 6-17 3,311,405.55 by registered invoices of which amount of Vi\T is not shown 6-29 separately 6-39 Input tax claimed on purchase of goods other than capital goods and capital goods not exceeding 1 million supported 6-18 by registered invoices of which amount of VAT is not shown 6-40 SCJ2aratclv and without Petitioner's TIN Input tax claimed on purchase of goods other than capital 6-6 goods and capital goods not exceeding 1 million supported 6-19 by registered invoices without BIR authority to print 6-30 6-41 Input tax claimed on purchase of goods other than capital 6-7 goods and capital goods not exceeding 1 million supported 6-20 by other documents such as statement of account, collection 6-31 receipt, miscellaneous account charge 6-42 Input tax claimed on purchase of goods other than capital goods and capital goods not exceeding 1 million supported 6-8 by registered invoices not dated within the period of claim Input tax claimed on purchase of goods other than capital 6-21 goods and capital goods not exceeding 1 million supported 6-32 bv _[Jhotocopied invoices 6-43 Input tax claimed on purchase of goods other than capital 6-9 goods and capital goods not exceeding 1 million with no 6-22 supporting documents 6-44 Input tax claimed on purchase of services supported by VAT registered official receipts not dated within the quarter but 7-5 within the period of claim and VAT not shown separately 7-28 Input tax claimed on purchase of services supported by VAT registered official receipts not dated within the quarter but 7-6 within the period of claim and without Petitioner's TIN 7-29

DECISION CfA CASE NO. 9126 Description ICPA Amount Report Input tax claimed on purchase of services supported by VAT Annex 4,867,187.37 registered official receipts of which amount of VAT not Reference shown separately 6,973,288.13 7-7 Input tax claimed on purchase of services supported by V,\T 7-19 123,590.85 registered official receipts of which amount of VAT not 7-30 10,330.61 shown separately and without Petitioner's TIN 7-42 1,200,931.87 7-8 234,001.76 Input tax claimed on purchase of services supported by V"\T 7-20 4,275.00 registered official receipts of which amount of VAT not 7-31 2,159.43 shown separately and without Petitioner's TIN and 7-43 637,563.11 incomplete address 48,620.10 Input tax claimed on purchase of services supported by VAT 7-44 29,403.68 registered official receipts with incomplete Petitioner's name 2,192,687.63 (e.g. Manulife) 7-9 Input tax claimed on purchase of services supported by Vli.T 1,517.46 registered official receipts without Petitioner's TIN 7-10 650.34 7-21 Input tax claimed on purchase of services supported by Vi\T 7-32 registered official receipts without BIR authority to print 7-45 Input tax claimed on purchase of services supported by TIN 7-33 NON VAT official receipts 7-46 Input tax claimed on purchase of services supported by NON VXl' REG TIN official receipts 7-34 Input tax claimed on purchase of services supported by other documents such as statement of account, collection receipt, 7-47 miscellaneous charge 7-11 Input tax claimed on purchase of services supported by 7-22 photocopied VAT registered official receipts 7-35 Input tax claimed on purchase of services supported by VAT 7-48 registered official receipts not dated within the period of 7-36 claim 7-49 Input tax claimed on purchase of services with no supporting 7-12 documents 7-37 7-50 Input tax claimed on purchase of capital goods exceeding 1 7-13 million supported by registered invoices not dated within the 7-23 quarter but within the period of claim and amount of VAT 7-38 not shown separately 7-51 Input tax claimed on purchase of capital goods exceeding 1 million supported by registered invoices of which amount of 8-8 v xr not shown separately 8-9

DECISION CTA CASE NO. 9126 Description !CPA Amount Report 4,048.03 Input tax claimed on purchase of capital goods exceeding 1 Annex million supported by registered invoices without BIR Reference authoritv to print Input tax claimed on purchase of capital goods exceeding 1 8-10 million supported by photocopied invoices Input tax claimed on purchase of capital goods exceeding 1 8-11 5,705.36 million supported by no vat registration invoices and official receipts 9-3 44,753.08 Input tax claimed on purchase of capital goods exceeding 1 million without supporting documents 9-8 57,275.92 Input tax claimed on purchase of capital goods exceeding 1 9-10 272,074.89 million supported by VAT REG TIN invoice with comment of "not a valid source of input tax" 12-2 35,736.35 Total exceptions noted by the !CPA 12-6 51,683.91 12-9 205,526.18 10-6 44,025.79 Php21,397 ,963.48 In addition, input VAT in the amount of Php5,336,333. 94 should likewise be disallowed for failure to comply with the substantiation requirements under the afore-mentioned VAT law and regulations: INPUT VAT FROM CURRENT PURCHASES !CPA Report" Exhibit Supplier Invoice/ Date Input VAT Annex No. OR No. Reference Documents not found in records 0.HXICARE P-115- HEALTHCARE 7-16 and 684 CORP 0180203 7/8/2013 Php 70,116.58 7-24 Domestic purchase ofJ?Oods supported by VAT invoice but the amount ofVAT is not separately indicated P-115- V-JON TRADING 624 1NTL 1581 8/27/2013 182.14 G-36 Do1nestic purchase ofgoods supported by VAT invoice but petitioner's address is not indicated P-115- MERCURY 6-25 and 425 DRUG CORP 27315288 7/17/2013 1,630 82 6-33 ASSOCIATION OF MOUTH AND rooT P-115- l'i\!NTING 613 ARTIST 0118 12/4/2013 1,050.00 (J-35 1'-115- MERCURY 620 DRUG CORP 27323034 11/26/2013 10,457.68 6-35 P-115- MERCURY 218 DRUG CORP 27314037 3/1/2013 561.29 6-13 75 Exhibit "P-111", Docket, Vols. 3 and 4, pp. 1498 to 1616

DECISION CTA CASE NO. 9126 P-115- MERCURY 218 DRUG CORP 27314038 3/1/2013 304.55 6-13 P-115- MERCURY 218 DRUG CORP 27314039 3/1/2013 327.46 6-13 P-115- MERCURY 218 DRUG CORP 27314040 3/1/2013 236.14 (J-13 Subtotal 14,567.94 Domestic purchase ofgoods supported by VAT invoice butpetitioner's TIN is not indicated P-115- 335 C\RE 1ST CORP 02333 5/14/2013 361.61 6-12 GATEWAY P-115- NETWO!U<. 4130 5/29/2013 5,400.00 6-12 I 340 SOLUTIONS INC P-115- ABACUS BOOK 421 &CARD CORP 10051 7/17/2013 198.49 6-25 P-115- PI Ill JPPINE 484 VENDING CORP 131771 9/9/2013 6,428.57 6-25 GATEWAY P-115- NETWORK 556 SOLUTIONS INC 7208 11/11/2013 5,400.00 6-35 P-115- f-YRELYN 221 INDUSTRIES 3222 3/26/2013 28,056.96 (J-13 Subtotal 45,845.63 Domestic purchase ofservices supported by VAT OR but the amount ofVAT is not separately indicated GOOD IDEA MFDL-\ I 1'-115- ADVERTISING 296 AGENCY 0332 6/18/2013 8,571.43 6-11 GOOD IDEA MEDIA P-115- i\DVERTISING 297 ,\GENCY 0409 7/24/2013 8,571.43 6-11 ,\LL VISUAL P-115- .\ND LIGHTS 354 SYSTEMS CORP 24024 9/5/2013 3,214.29 6-25 ACCENT MICRO P-115- TECI INOLOGIES 355 INC 0042 8/29/2013 264.00 6-25 P-115- QL:i\LIPRINT 6-25 and 414 INC 0004 8/14/2013 390.00 6-33 I 1'-115- LOL:RDES C 305944 2/21/2013 8,115.64 I 75 ,\ND SONS REAUYDEVT ' CORP I 7-1 I LOURDESC ,-\ND SONS 1'-115- RE,\L1Y DEVT 76 CORP 305943 2/21/2013 8,115.64 7-1 ISS FACILITY P-115- SERVICES PHILS 193 INC 34006 5/8/2013 45,611.85 7-15 ISS f-ACILnY 1'-115- SERVICES !'HILS 408 INC 43129 7/31/2013 44,959.34 7-25 LAI'S CATERING 2044 1/22/2013 16,285.71 7_2 P-115-5 SERVICES

DECISION CTA CASE NO. 9126 EAGLEWATCH P-115- SECURITY 25 SERVICES 17205 1/30/2013 727.21 7-2 7-2 ISS FACILI'JY 7-2 7-2 P-115- SERVICES !'HILS 7-2 7-2 33 INC 58243 2/7/2013 22,881.28 7-26 7-26 ISS l'ACILITY 7-26 7-2(, 1'-115- SERVICES !'HILS 7--\ I 7-4I 39 INC 58242 2/7/2013 21,547.73 7-3 EAGLE\VAfCH 7-4 I 1'-115- SECURITY 7-18 7-18 73 SERVICES 17276 3/6/2013 941.47 I PUNT/\ DE 7-27 1'-115- FABIAN RESORT 7-27 74 INC 1333 2/26/2013 4,821.43 7-2 and 7- 14 EAGJ.EWATCH 7-41 P-115- SECURI'IY 72 SERVICES 17309 2/21/2013 1,385.59 3 SIXTY 1'-115- ELECTRICAL 362 SERVICES 0005 9/12/2013 428.57 RENTOKIL P-II5- INITIAL (PHIL) 389 INC 209554 7/24/2013 1,285.7I 1'-115- DELCO 404 TELECOMS INC 52255 8/2/2013 5,965.07 P-I15- 1'ELEDA'L\COM -\01 !'HILS INC 6288 8/8/2013 11,000.95 1'-115- MEGAWORLD 588 CORP 978?52 12/27/2013 1,087,776.00 ALI PROPERTY 1'-115- PAR'JNERS 589 CORP 0512 12/27/2013 68,851.88 ISS h\CILJTY 1'-115- SERVICES !'HILS 153 INC 43126 4/4/2013 21,625.73 EAGLEWATCH 1'-115- SECURITY 148 SERVICES 17362 4/5/2013 1,059.73 1'-115- TELEDATACOM 311 !'HILS INC 6230 7/11/2013 10,897.33 P-115- 318 FP PI IlLS INC 0077 7/3/2013 61l,(J86.75 HUM1\N P-115- CAPITAL ASIA 449 INC 2576 10/3/2013 11,616.00 RENTOKIL P-115- INITIAL (PHIL) 459 INC 212267 10/3/2013 3,642.86 Subtotal 1,481,240. 62 Domestic Purchase ofservices supported bv VAT OR but the date is unreadable MAXI CARE 1-IEAI.THCARE 1'-115-3 CORP 0162097 nil 31,999.27 Domestic purchase ofservices supported bv VAT OR but is dated outside the period ofclaim UPS DELBROS P-115- INTI. EXPRESS 602 J:!D INC. 239758 1/16/2014 257.12

DECISION CTA CASE NO. 9126 Domestic purchase ofservices supported by VAT OR but is dated outside the period ofclaim and the amount of VAT is not separately indicated P-115- TELEDATJ\COM 601 PHILS INC 15031 1/3/2014 10,275.12 7-41 Domestic purchase ofservices supported by VAT OR but is marked as "not valid for claimit?_g ji!I!_ut taxes" P-115- MI-BELLORE 57(, CORP 0617 11/27/2013 3,085.71 7-411 Domestic purchase ofservices supported by VAT OR but petitioner's address is not indicated l'-115- 522 MER,\LCO 321638 10/19/2013 4,232.14 7-41 Domestic purchase ofservices supported by VAT OR butpetitioner's address is not indicated and the amount of VAT is not separatelyindicated P-115- CLUB BALi\I 150 ISABEL INC 25918 4/15/2013 203,718.75 7-2 P-115- CLUB BALAI 7-2 and 151 ISABEL INC 24727 3/17/2013 203,718.75 7-14 EAGLEWATCH P-115- SECURITY 162 SERVICES 17452 4/13/2013 1,024.09 7-16 Subtotal 408,461.59 DomesticElJrchase ofservices supported byVAT OR butpetitioner's TIN and address is not indicated P-115- ANSCOR CASTO 309 TRAVEL CORP 038380 6/27/2013 51.55 7-16 1'-115- 'J'ELENETWORK 1786 6/21/2013 12,000.00 7-J(, 323 MEDIA CORP TRENDS AND 1'-115- TECHNOLOGIES 657 INC 24388 7/4/2013 30,160.71 7-1H Subtotal 42,212.26 Domestic purchase ofservices supported by VAT OR butpetitioner's TIN and address is not indicated and the amount ofVAT is not separatelyindicated MICRODj\TA SYSTEMS& l'-115- MANAGEMENT 294 INC 45552 7/18/2013 3,750.00 6-12 ISS FACILITY P-115- SERVICES PHILS 28 INC 43124 1/30/2013 19,385.58 7-1 ISS Fi\CILITY P-115- SERVICES !'HILS K2 INC 43125 2/20/2013 20,357..19 7-1 ISS FACILITY 1'-115- SERVICES PI IlLS 286 INC 43128 6/5/2013 43,570.71 7-15 1'-115- I IJ\tvU JN- 324 ITURALDE CORP 10123 6/28/2013 2,035.72 7-16 CEN1RO P-115- SPECIALIST CO 357 L1D 9648 9/2/2013 2,112.86 7-26 1'-115- TOMPDEG 6(,8 FARM 1671 8/18/2013 9,771.43 7-2(, P-115- 530 RONEENA INC 16866 10/11/2013 7,200.00 7-41 Subtotal 108,183.69 Domestic purchase ofservices supported by VAT OR but petitioner's TIN is not indicated and the amount of VAT is not separatelyindicated

DECISION CTA CASE NO. 9126 l!Ul\1AN l'-115- Ci\PITAJ. i\SIA 397 INC 2362 8/7/2013 15.576.00 7-25 EAGLEWATCH P-115- SECURITY 186 SERVICES 17397 5/4/2013 480.00 7-16 P-115- CLUB BALAI 189 ISABEL INC 22276 5/24/2013 18,000 00 7-16 E>\GLEWATCH P-115- SECURITY 185 SERVICES 17396 5/4/2013 4,472.80 7-16 EAGLEWATCH 1'-115- SECURITY 277 SERVICES 17823 5/30/2013 4.791.80 7-16 CENTRO P-115- SPECIALIST CO 358 LTD 6750 9/28/2013 14,817.86 7-2(, Subtotal 58,138.46 Domesticpurchase ofservices supported by VAT OR but petitioner's TIN is not indicated !lUMAN P-115- CAPITAL ASIA 268 INC 2315 6/4/2013 6,534.00 7-15 PUNT�\ DE P-115- F,\BL>\N RESORT 1435 8/30/2013 11,250.00 7-26 I 372 INC Subtotal 17,784.00 i Domestic purchase ofgoods supported by VAT invoice but is issued to Manulife Financial altered to petitioner's na1ne but the authority ofthe countersigner cannot be ascertained P-115- AUTOMATIC 025825 12/5/2013 17,035.71 I 609 APPLIANCE INC. 6-34 Domestic purchase ofI(Oods supported by VAT invoice but petitioner's address and TIN is not indicated P-115- M,".COLY!"ES 467 INC: 11621 8/22/2013 267.86 6-25 Domestic purchase ofgoods supported by VAT invoice but petitioner's TIN is manually added with countersignature but the authority ofthe countersiJ!Iler cannot be ascertained CARTIUDGE P-115- WORLD 465 LIFES'JYLE INC 9624 9/2/2013 675.00 6-25 Double claimed input VAT P-11.1- ARIV.-\ EVENTS 254 /\!GMT 6767 5/27/2013 1,138.56 7-16 Domestic purchase of_g<Jods su]>p<Jrted by_VAT invoice butpetitioner's TIN is not indicated P-115- PHILIPPINE 210 VENDING CORP 123766 4/5/2013 6,962.09 (J-12 Over claimed input VAT ,\CCENT MICRO l'-11 5- '!T.!CHNOLOGIES I 1% INC 148279 4/23/2013 _l)_er Schedule 502.47 per invoice/OR 12.21 490.26 6-12 MAXIC.-\RE P-11 5- HEALTH CARE 160 CORP 171842 4/25/2013 per Schedule 8,226.39 per invoice/OR 4,269.93 3,956.46 7-24 1'-115- 444 FMRCORP 012763 9/19/?013 per Schedule 9,042.86 t/

DECISION CTA CASE NO. 9126 per 8,639.15 403.71 7-39 invoice/OR P-115- :l74 FMRCORP 012616 9/11/2013 per Schedule 2,700.00 per 2,579.00 121.00 7-39 invoice/OR P-115- 518 PMRCORP 012873 10/24/2013 per Schedule 14,528.57 per 13,879.98 648.59 7-41 invoice/OR Subtotal 5,620.02 TOTAL INPUT VAT FROM CURRENT PURCHASES Php2,328,281.51 AMORTIZED INPUT VAT FROM PURCHASES OF CAPITAL GOODS EXCEEDING PlM !CPA 2013 Input Report76 Exhibit Invoice/ Total VAT Annex No. Supplier OR No. Date Input VAT Amortization Reference Domestic purchase ofcapital f!Oods exceedinf! P1M but copy of VAT invoice is incomplete P-116- JEBSEN AND Php 79 JESSEN PH 3085004516 3/9/2009 123,950.07 24,790.01 12-1 P-116- B1\RRINGTON 42 C\RPETS INC 9340 9/22/2009 253,827.00 50,765AO 12-7 HOFPSMAN 1'-116- SYSTE~L\TIC 50 DESIGNS INC 6656 9/14/2009 136,773.00 27,354.60 12-8 Subtotal 102,910.01 Domestic purchase ofcapitalizable services exceeding P1M but copy of VAT OR is incomJ>!ete P-11(>- 'J'ELEDAT,'\COM 53 PI IlLS INC 4279 11/4/2009 130,408.13 26,081.63 12-H Documents not found in records or does not match the desiJ!Ilated evidence markinfj, P-115- TOTAL 61 VENTURES INC 3089 7/10/2013 1,065,905.19 106,590.52 8-4 ACCENT MICRO TECJINOI.OGIES nil INC 109654 3/24/2010 139,641.09 27,928.22 11-4 ACCENT MICRO TECJJNOI.OGIES nil INC 109652 3/24/2010 314,362.44 78,590.61 11-4 B1\RRINGTON nil CARPETS INC 9264 7/22/2009 203,061.60 40,(>12.32 12-4 TRENDS AND nil TECHNOLOGIES 29094 9/1/2009 433,673.67 86,734.73 12-4 IBMS TECHNOLOGY nil PI IlLS CORP 1901 7/23/2009 157,500.00 31,500.00 12-4 Subtotal 371,956.40 Domestic purchase ofcapital goods and capitalizable services exceeding P1M where the service/laborportion of the billinJ! is supported by VAT OR but the amount ofVAT is not separately indicated BARRINGTON 9-5 and 1'-116-4 CARPETS INC 13415 8/23/2012 21,772.80 4,354.5617 13-2 76 Exhibit "P-111", Docket, Vol. 4, pp. 1617 to 1673 Php101 606.40 101 606.40 77 Amount of labor_!!_er invoices as receipted in OR No. 13415 (gross of VAl}_ 101891 (Exh. P-116-4) 101890 (Exh. P-116-5)

DECISION ITA CASE NO. 9126 Domestic purchase ofcapitalizable services exceeding P1M supported by VAT OR butpetitioner's address is not indicated P-116- TOTAL 19 VENTURES INC 3051 6/27/2012 2,052,000.00 410,400.00 9-4 Domestic purchase ofcapitalizable services exceeding P1M supported by VAT OR but petitioner's TIN is not indicated P-116- TOTAL II & 12 VENTURES INC 3041 12/21/2012 2,291,431.12 458,286.22 9-9 P-116- RDTJR ASSOC ?_J" INC 1240 7/21/2011 272,029.60 54,405.92 10-7 Subtotal 512,692.14 Domestic purchase ofcapitalizable services exceedinf( P1M supported by VAT invoice P-116- TELEDATACOM 26 PI IlLS INC 3579 4/14/2011 508,355.27 101,671.05 lll-4 P-116- TELED1\T,\COM 31 PHILS INC 3538 3/29/2011 137,990.12 27,598.02 10-9 P-116- TELEDATACOM 39 PHILS INC 3256 10/29/2010 413,105.19 82,621.04 IJ-(, 1'-116- TOTAL 51 VENTURES INC 1316 12/2/2009 307,836.43 61,567.23 12-8 Subtotal 273,457.34 Domestic purchase ofcapitalizable services exceeding P1Msupported by VAT OR but the amount ofVAT is not separately indicated P-116- GOUDIE ASSOC 62 tvL\NIL,\ Ll'D CO 2348 10/23/2013 39,020.47 1,951.02 8-5 2008 Domestic purchases ofcapital goods exceeding P1M without supporting documents 1,304,249.33 13-6 TOTAL AMORTIZED INPUT VAT FROM PURCHASES OF CAPITAL GOODS EXCEEDING PlM Php3,008,052.43 TOTAL INPUT VAT DISALLOWED BY THE COURT Php5,336,333. 94 In sum, out of petitioner's declared input VAT ofPhp63,188,333.66, only the amount of Php36,444,934.94 represents substantiated and valid input VAT. Applying the valid input VAT to the total output VAT of Php2,707,414.85 for C:Y 2013, only the excess ofPhp33,737,520.09 remains to be available for refund. These amounts are computed as follows: Input VAT reported in Quarterly VAT Returns Php 63,188,333.66 f ,ess: Disallowances Php 9,101.30 26,743,398.72 Unaccounted input VAT 21,397,963.48 Php36,444,934.94 Exc~ions noted bv the ICPA Exceptions noted by the Court Php5,336,333.94 Pro]J_erly_substantiated input VAT Multiply by: Pho203.212.80 VAT component 12%/112% Divide by: Months amortized Multiply by: No. of months amortized in 2013 Php21 772.80 2013 In~ut VAT amortization 60 12 Php4,354.56

DECISION Php 47,711.46 2,707,414.85 CfA CASE NO. 9126 610,479.85 Php33,737,520.09 Page 72 of 73 712,780.27 Less: Total output VAT for CY 201378 1,336,443.27 1st Quarter 2nd Quarter 3rd Quarter 4th Quarter Excess input VAT available for refund Petitioner's input taxes were attributable to its zero-rated sales and were not applied to any output tax liability. The above-computed excess input VAT amounting to Php33,737,520.09 is thus attributable to zero-rated sales. Consequendy, petitioner's duly substantiated excess input VAT attributable to the declared valid zero-rated sales of Php83,298,123.56 amounts only to Php1,305,567.11, computed as follows: Excess input VAT available for refund Php33,737,520.09 Multiply by ratio of valid zero-rated sales over total sales: Php 83,298,123.56 Valid zero-rated sales Php2, 152,529,797.4 7 3.87''/o Divide by total zero-rated sales per VAT returns Input VAT allowed for refund Php1,305,567.11 Moreover, although the claimed input VAT was carried over by petitioner in its succeeding Quarterly VAT Returns,79 the same remained unutilized until it was deducted as "VAT Refund/TCC Claimed" in its Quarterly VAT Return for the 1~�quarter of CY 2015. 80 Therefore, the subject claim no longer formed part of the excess input VAT of Php80,430,008.8281 as of the end of the 1" quarter of CY 2015 that was to be carried over/applied to the succeeding quarters. ,\s such, it eliminates the possibility that the present claim would be applied to future output VAT liability. WHEREFORE, premises considered, the instant Petition for Review is hereby PARTIALLY GRANTED. Accordingly, respondent is ORDERED TO REFUND OR TO ISSUE A TAX CREDIT CERTIFICATE in favor oJ of petitioner in the amount of Php1,305,567.11 representing petitioner's unutilized input VAT attributable to its zero-rated sales for the four quarters I' , calendar year 2013. 78 Exhibits "P-6", "P-8-c", "P-9", and "P-11", Docket, Vol. 6, pp. 2779, 2783, 2785 to 2786, and 2792 to 2793. 79 Exhibits "P-122-1" to "P-122-4" and "P-123", !CPA Report Supporting Documents. 80 Exhibit "P-123", Line 23D. 81 Exhibit "P-123", Line 29.

DECISION (iN;.. ~ ..--1- <.. CfA CASE NO. 9126 MA. BELEN M. RINGPIS-LIBAN Associate Justice SO ORDERED. I CONCUR: ATTESTATION I attest that the conclusions in the above decision were reached in consultation before the case was assigned to the writer of the opinion of the Court. ' SJociate Justice ding Chairperson CERTIFICATION Pursuant to Article VIII, Section 13 of the Constitution, and the Division Acting Chairperson's Attestation, it is hereby certified that the conclusions in the above Decision were reached in consultation before the case was assigned to the writer of the opinion of the Court. Presiding Justice