GST PHILIPPINES, INC. v. COMMISSIONER OF INTERNAL REVENUE

.- REPUBLIC OF THE PHILIPPINES COURT OF TAX APPEALS QUEZON CITY FIRST DIVISION *********** GST PHILIPPINES, INC., C.T.A. CASE NO. 6489 Petitioner, Members: - versus- ACOSTA, Chairperson COMMISSIONER OF INTERNAL BAUTISTA, and REVENUE, CASANOVA, JJ. Respondent. Promulgated: NOV 3 2008 ;1.>.~~ "' - - - - -x AMENDED DECISION ACOSTA, P.J.: For resolution are respondent's Motion for Partial Reconsideration filed on August 28, 2007 and petitioner's Motion for Partial Reconsideration (Re: Decision dated 7 August 2007) filed on September 3, 2007, both seeking the reconsideration of this Court's Decision promulgated on August 7, 2007. The dispositive portion of the assailed Decision: "WHEREFORE, the instant Petition for Review is hereby PARTIALLY GRANTED. Accordingly, respondent is hereby ORDERED to REFUND or ISSUE A TAX CREDIT CERTIFICATE to petitioner in the reduced amount of NINE MILLION TWO HUNDRED THIRTY NINE THOUSAND ONE HUNDRED FORTY SIX PESOS and 82/100 (P9,239,146.82), representing unutilized input VAT paid on domestic purchases and importation of goods attributable to zero-rated sales for the period of April 1, 2000 to March 31, 2002. SO ORDERED."

AMENDED DECISION C.T.A. CASE NO. 6489 Respondent seeks to partially reconsider the said Decision arguing that petitioner failed to prove that: 1. it has complied with the registration requirements of a value-added taxpayer; 2. its purchases of goods and services were made in the course of its trade and business; 3. the said purchases were properly supported by value-added tax (VAT) invoices and/or official receipts and other documents; 4. the claimed input VAT payments are directly attributable to its zero- rated sales; and 5. the proceeds of the export sales were inwardly remitted and were duly accounted for in accordance with the rules and regulations of the Bangko Sentral ng Pilipinas (BSP). However, the foregoing arguments have already been considered, weighed and resolved in the Court's Decision. Thus, the Court finds no genuine necessity to dwell on them in this Amended Decision. On the other hand, petitioner seeks to partially reconsider the same Decision, praying for the Court to consider the following disallowed items: 1. Petitioner's sales to Philippine Associated Smelting and Refining Corporation (PASAR) amounting to P1,868,308.00 for failure to substantiate the same; 2. Petitioner's sales to Philex Mining Corporation, Philex Gold Philippines, Inc., and Lepanto Consolidated Mining Company amounting to P86,006,387.36 for presenting only provisional Certifications from the Board of Investments (BOI); 3. Input VAT in the aggregate amount of P1,671,902.49, detailed below: 1 (a) Input VAT on purchase of service supported only P559 ,358. 95 by account summary, statement of account, provisional receipt, invoice or monthly billing. P802,048.38 P310,495.16 (d) Input VAT paid on purchase of goods and services without supporting documents. (g) Input VAT representing technical fees paid to GSI Technologies, USA. 1 Decision, page 14.

AM ENDED DECISION C.T.A. CASE NO. 6489 To prove its sales to PASAR, petitioner presented a Schedule of Zero-rated Sales and the sales invoices and official receipts issued to PASAR attached as annexes to its Motion for Partial Reconsideration. On December 12, 2007, the Court required petitioner to present the original of the said documents for examination. 2 In a Manifestation and Motion to Set Commissioner's Hearing filed on December 18, 2007, petitioner declared that it is unable to turn over the possession of the original copies to the Court but requested that it be allowed to present the originals during a Commissioner's hearing.3 On January 25, 2008, the Court denied petitioner's motion in open court followed by a confirming Resolution dated February 4, 2008, ordering petitioner to present the said documents to Mr. Roque S. Fado, the Court- commissioned Independent CPA, for examination and submission of a Supplemental Report. 4 Thereafter, on February 26, 2008, the Independent CPA submitted his Supplemental Report. Petitioner subsequently filed a Supplemental Formal Offer of Evidence on March 31, 2008. It was admitted in a Resolution dated April 25, 2008 without any objection from respondent. Petitioner's Motion for Partial Reconsideration was submitted for resolution on June 3, 2008. The supplemental evidence presented by petitioner aims to prove that its sales to PASAR are duly substantiated by sales invoices and official receipts. The results of the Independent CPA's verification of the supporting documents for 2 Docket, pp. 515 to 516. 3 Docket, pp. 517 to 518. 4 Docket, p. 523.

AMENDE D DECISION C.T.A. CASE NO. 6489 petitioner's sales to PASAR in the amount of P1,868,308.50 for the period April 1, 2000 to March 31, 2002 is shown below: s Exhibit Invoice Date Amount 5/ 15/2000 p 273, 580.00 AAAA 5/ 15/ 2000 115 ,4 50 .00 6/ 8/2000 4 5,001.00 ecce 7/ 19/2000 44 ,950 .00 7/ 19/2000 115,450.00 EEEE 7/ 19/2000 250,690 .00 GGGG 1/ 23/2001 23 0,650.00 1/ 23/ 2001 90,155 .00 III! 4/4/2001 144,757 .50 4/ 4/ 2001 24 1,61 2. 50 KKKK 9/ 13/2001 242, 66 2.50 MMMM 1/24/2002 73 350.00 0000 TOTAL p 1,868,308.50 QQQQ ssss uuuu wwww Anent petitioner's sales to Philex Mining Corporation, Philex Gold Philippines, Inc., and Lepanto Consolidated Mining Company in the total amount of P86,006,387.36, petitioner avers that respondent's failure to controvert or rebut the evidence previously presented have established a preponderance of evidence in its favor. Yet petitioner subsequently submitted a final Certification for Lepanto Consolidated Mining Companl and Philex Mining Corporation and Philex Gold Philippines, Inc. 7 However, the foregoing final Certifications cannot be considered by the Court for the reason that they were not formally offered as evidence. It has been held that a formal offer of evidence is necessary because judges are mandated to rest their findings of facts and their judgment only and strictly upon the evidence offered by the parties at the trial. Strict adherence to the said rule is not a trivial matter. However, such rule may be relaxed and evidence not formally offered to be admitted and considered by the trial court may be allowed, provided 5 Exhibit "YYYY", Annex " A" . 6 Manifestation dated November 22, 2007, Docket, pp. 509 to 513. 7 Submission dated April 11, 2008, Docket, pp. 593 to 598.

AMENDED DECISION C.T.A. CASE NO. 6489 the following requirements are present: (1) the same must have been duly identified by testimony duly recorded, and (2) the same must have been incorporated in the records of the case. 8 Accordingly, the newly issued Certifications issued by the BOI in favor of Lepanto, Philex Gold and Philex Mining, stating respectively, (1) the reason for the issuance of a "provisional" Certification, and that (2) such "provisional" Certification has become final, cannot be considered by this Court. This must be so because � such Certifications is neither offered in evidence, nor the circumstances of this case warrant the application of the exception on the above-stated rule. Thus, out of Petitioner's declared zero-rated sales of P280,156,225.96, only the amount of P196,018,147.10 are duly substantiated, the details of which follows: Period Sales to BOI Total Qualified Entities CQv~r~d EXRO!l Si!l~~ Sal~s to PASAR Zero-rat~d Sale~ p 955,301.69 p 22,415,808.53 2nd Qtr-2000 p 434,031.00 27,148,307.36 p 1,389,332.69 3rd Qtr-2000 167,559.96 36,486,884 .07 4th Qtr-2000 127,601.76 411,090.00 39,323,020 .51 578,649 .96 1st Qtr-2001 1,642,975.98 2015601166.10 2nd Qtr-2001 3,070,247.25 127,601.76 3rd Qtr-2001 39,858,403.42 P145,934,186.57 4th Qtr-2001 1,246,087.98 320,805.00 24,379,589.51 1st Qtr-2002 386,370.00 11147 1473.99 242,662.50 30,604,924.61 TOTAL P48,215,652.03 76,587,949.99 40,569,108.49 731350.00 2117801990.09 p 1,868,308.50 p 196,018,147.10 Inasmuch as only a portion of Petitioner's declared zero-rated sales is duly substantiated, only the portion of the input VAT claimed attributable to the substantiated zero-rated sales will be considered for refund. The rate to be applied is based on the volume of sales and is computed as follows: 8 Dizon vs. Court of Tax Appeals, eta!., G.R. No. 140944, April 30, 2008.

AMENDED DECISION C.T.A. CASE NO . 6489 Zero-rated sales Total Qualified % of Qualified Zero-ratgd Sales Exhibit Pgriod Covgrgd jler rgturn~ ZerQ-rated Salgs 2nd Qtr-2000 5.5541860% c 3rd Qtr-2000 p 25,014,154.82 p 1,38 9,332 .69 2.014826 2% 4th Qtr-2000 0 .3 926219 % D 1st Qtr-2001 28,719,597.23 578,649 .96 100 .0000000 % E 2nd Qtr-2001 100 .0000000 % F 3rd Qtr-2001 32,499,911.22 127,601.76 100.0000000% G 4th Qtr-2001 100.0000000% 1st Qtr-2002 24,379,589.51 24,379,589.51 100.0000000% H TOTAL I 30,604,924.61 30,604,924 .61 69.967443% J 76,587,949.99 76,587,949 .99 40,569,108.49 40,569,108.49 21,780,990.09 21,780,990.09 p 280,156,225.96 p 196,018,147.10 As regards the disallowed input VAT on petitioner's domestic purchases of services and goods in the amount of P559,358.95 and P802,048.38 under items (a) and (d), respectively, the Court stands firm on its position to disallow the said input VAT as the Court had painstakingly considered the documents presented and the arguments put forth by petitioner and respondent. Attached herewith is Annex "A" where the details of the questioned disallowed input VAT are shown. Upon taking a second look at the supporting documents of petitioner's taxable sales, the Independent CPA noted the following: 9 "Instead of using SIR Form 160010, the Company included in its VAT returns the withholding VAT remitted in behalf of GS Technologies, USA representing technical fees of 1% payable to GS Technologies. The corresponding withholding VAT remitted was claimed as part of the Company's input tax credits in the following month. Payments made by the Company to GS Technologies, USA totaled Php3,514,001.41 covering the period from April 1, 2000 to March 31, 2002. These payments are not covered by Sales Invoices or Official receipts but supported by Bank remittances." In Commissioner of Internal Revenue vs. Manila Mining Corporation11, the Supreme Court declared in no unclear terms the following statements: 'For a judicial claim for refund to prosper, however, respondent must not only prove that it is a VAT registered entity and that it filed its claims within the prescriptive period. It must 9 Exhibit " LL", page 2. 10 Monthly Remittance Return of Value-added Tax and Other Percentage Taxes Withheld . 11 G.R. No. 153204, August 31, 2005.

AMENDED DECISION C.T.A. CASE NO . 6489 substantiate the input VAT paid by purchase invoices or official receipts." Moreover, Section 4.105-5(e) of Revenue Regulations No. 7-95 provides an additional document to substantiate the payment of input VAT from payments made to non-residents, to wit: "SECTION 4.104-5. Substantiation of claims for input tax credit.- XXX XXX XXX (e) Input tax from payments made to non-residents shall be supported by a copy of the VAT declaration/return filed by the resident licensee/lessee in behalf of the nonresident licensor/lessor evidencing remittance of the VAT due." The appropriate document for the aforementioned requirement is BIR Form No. 1600 Monthly Remittance Return of value-added tax and other percentage taxes withheld. Petitioner failed to submit the said document; ergo, it is likewise proper to disallow the input VAT on petitioner's payments to GSI Technologies for failure to substantiate the same. Further, bank remittances do not show the amount of value- added tax paid therein, and the Court could not verify the inclusion of the withholding VAT remitted in behalf of GSI Technologies, USA in its VAT Returns. In view of the foregoing, petitioner's valid creditable input tax is P12,314,223.50, computed as follows: Period Valid In~ut VAT Out~utVAT Input VAT % of Qualified Input VAT Covered p 4,055,363.89 attributable to Zero-rated Sales attributable to 2nd Qtr-2000 p 2,781,894.70 declared zero- qualified zero- 3rd Qtr-2000 275,036.98 2,255,198.77 5.5541860% 4th Qtr-2000 3,393,939.91 2,083,367.36 rated sales 2.0148262% rated sales 1st Qtr-2001 7,365,346.43 1,781,226 .36 p 1,273,469.19 0.3926219% 2nd Qtr-2001 2,500,812.98 1,560,125.98 100.0000000% p 70,730 .85 3rd Qtr-2001 1,454,647.66 364,829 .62 (1,980,161.79) 100.0000000% 4th Qtr-2001 1,496,759.86 90,087.94 1,310,572.55 100.0000000% (39,896 .82) 1st Qtr-2002 3,517,249.05 260,302.20 5,584,120.07 100.0000000% 940,687.00 100.0000000% 5,145 .59 TOTAL p 24,059,156.76 p 11,177,032.93 1,089,818.04 1,406,671.92 69.967443% 5,584,120 .07 3,256,946.85 940,687 .00 p 12,882,123.83 1,089,818.04 1,406,671.92 3,256,946 .85 p 12,314,223.50

AMENDED DECISION C.T.A. CASE NO. 6489 Taking into account the foregoing changes, petitioner is correspondingly entitled to a refund or issuance of a tax credit certificate in the adjusted amount of P9,332,676.29 for the period April 1, 2000 to March 31, 2002, computed as follows: Refundable input VAT p 12,314,223 .50 Less : Tax Credit Certificate issued by Respondent Input VAT still refundable 2,981,547 .21 p 9,332,676.29 WHEREFORE, premises considered, respondent's Motion for Partial Reconsideration is hereby DENIED; while petitioner's Motion for Partial Reconsideration is hereby PARTIALLY GRANTED. Accordingly, the Court's Decision promulgated on August 7, 2007 is hereby MODIFIED as follows: "WHEREFORE, the instant Petition for Review is hereby PARTIALLY GRANTED. Accordingly, respondent is hereby ORDERED to REFUND or ISSUE A TAX CREDIT CERTIFICATE to petitioner in the reduced amount of NINE MILLION THREE HUNDRED THIRTY TWO THOUSAND SIX HUNDRED SEVENTY SIX PESOS and 29/100 (P9,332,676.29), representing unutilized input VAT paid on domestic purchases and importation of goods attributable to zero-rated sales for the period of April 1, 2000 to March 31, 2002. SO ORDERED." SO ORDERED. ELRNEsrroUDl~ Presiding Justice ~NOVA CAESAR Associate Justice

AMENDED DECISION C.T.A. CASE NO. 6489 CERTIFICATION Pursuant to Article VIII, Section 13 of the Constitution, it is hereby certified that the conclusions in the above Amended Decision were reached in consultation before the case was assigned to the writer of the opinion of the Court's Division. L-~-~ ERNESTO D. ACOSTA Presiding Justice Chairman, First Division

ANNEXA DETAILS OF QUESTIONED DISALLOWED INPUT VAT PER COURT'S VERIFICATION (a) Input VAT on purchase services supported only by account summary, statement of account, provisional receipt, invoice and monthly billing 2ND QUARTER 2000 Exhibit Referen c e Total Amount Input VAT Supplier 00-286 00-287 44000068726 p 1,930.50 p 175.50 PILl PINO TELEPHONE CORP 00-60 4400004991 7 PILl PINO TELEPHONE CORP 00-61 44000049765 2,493 .65 183.73 PLOT 0 0 -62 25002212562 PLOT 00-117 25002211640 2,870 .64 204 .29 PLOT 0 0 -1 18 25002211638 PLOT 0 0 -119 25002211639 1,406.63 127.88 PLOT 00-120 25002213468 PLOT 00-121 25 00 221164 1 1,363 .79 123.98 PLOT 00-122 25002212561 PL OT 0 0 -123 25002212560 3,313.59 165.78 PLOT 0 0 -124 25002213103 PL OT 00-142 30002054892 1,624.41 147.67 PLOT 00-164 44000092871 PL OT 00-231 44000092717 1,414.31 128.57 PLOT 00-232 44000111787 PL OT 00-233 1,414.27 128.57 PLOT 00-319/320 various PLOT 0 0 -321 19002973914 1,160.50 105.50 PLOT 00-322/323 PLOT 00-324 va rious 1,160.50 105.50 PL OT 00-325 44000155074 PLOT 00-326 44000136174 1,915 .51 143.26 PLOT 00-375 44000136325 PLOT 00-376 25002359675 1,526 .03 138.73 PLOT 00-377 25002360208 PLOT 00-378 25002358766 8,762.39 165.52 PL OT 00-379 25002358765 PLOT 00-380 25002358763 705 .89 52.77 PLOT 00-381 25002358764 PLOT 00-382 25002360567 1,420.24 129.11 PLOT 00-383 25002359673 PLO T 0 0 -435 25002359674 1,165.33 105.94 PLOT 00-436 19003082082 PLOT 0 0-452 19002069906 2 ,133. 71 187.71 PLOT 0 0-2 9 19003114003 PLOT 0 0 -3 15 3,618 .26 328 .93 BLANVI L DD-475 37244 CITI MOTORS DD-56 318594 3,440 .97 312 .81 CITIMOTORS DD-29 321345 CITIMOTORS, INC DD-465 316633 4,531 .36 38202 FELIX MARIE CO RP DD-2 61 FOODLI NK RESOURCES & MGT, IN DD-1 43 1305 1,992 .35 181 .12 SANDEN AIRCON SE RVICES CO 00-429 various VETERANS SECURITY AGE NCY 12601 1,220.86 110.99 CATHAY PACIFIC STEEL COR P 4367 1,424.95 129.54 Subtotal 0454 3,902 .81 177.91 4,632 .30 149.28 1,173.12 106.65 1,457.31 132.48 1,462.81 132.98 1,429 .81 129.98 1,195.54 108.69 1,544 .37 140.40 1,731.42 155.30 1,758 .83 159.89 1,780 .39 161 .85 4 ,753.80 193.10 900 .00 79 .55 4 ,891.30 444 .66 3,393 .33 308.48 770.00 70 .00 3,527 .00 317 .00 3,166.00 287 .82 2,740 .00 249 .09 14,490 .00 1,317 .27 25 ,555 .00 2 ,323 .18 p 140 ,265 .78 p 11 ,110.98 3RD QUARTER 2000 EE-20 12440041689 p 4,847.49 p 265 .18 PILI PINO TELEP HON E EE-42 75 ,882 .01 6,898 .35 CATHAY PAC IFIC STEE L CORP EE-11 8 0457 315 ,838.45 28 ,712 .59 CATHAY PACIFIC STEEL CORP EE-121 INFOCOM 0459 1,056 .00 96 .00 32689 1 of 10

PAL PILOT'S RETIREMENT FUND EE - 15 2756 129 ,620 .52 ANNEXA WISPY TRADING COMPUTER EE-21 1686 600 .00 PLOT EE-39 44000180284 11 ,783.68 PLOT EE-40 44000199042 1,453 .95 54 .55 PLOT EE-41 44000180132 1,810.47 PLOT EE-75 25002433555 1,216.95 132.18 PLOT EE-76 25002433553 2,090 .12 155.82 PLOT EE-77 25002435305 1,617 .12 110.63 PLOT EE-78 25002434442 1,284 .55 190.01 PLOT EE-79 25002433554 2 ,239 .05 147.01 PLOT EE-80 25002434441 1,485.12 116.78 PLOT EE-81 25002433556 1,511.52 144.28 PLOT EE-83 25002434962 1,218.13 135.01 PLOT EE-108 19003178975 5,466 .22 137.41 PLOT EE-109 19003166808 2,000.28 110.74 PLOT EE-11 0 19003210837 1,781 .05 159.32 PLOT EE-120 25002434443 1,990 .65 181 .84 ABOY'S RESTAURANT EE-135 78564 4,641 .63 161 .91 BATHALA MKTG EE-37 51959 180.97 HALICZ ENTERPRISES EE-138 018072 290.40 201.44 KODAK EXPRESS EE-133 5651 7 ,269 .66 PHILEX INSURANCE EE-160 11238 26.40 PHILEX INSURANCE EE-161 11240 492 .00 660 .88 SHARP TRAVEL CORP EE-73 10931 91 .50 PILIPINO TELEPHONE EE-248 12440041216 44.73 PAL PILOT'S RETIREMENT FUND EE-174 2767 846 .29 8.32 REPUBLIC COMMODITIES CORP EE-246 6850 551 .93 PLOT EE-182 44000225066 4,161 .00 69.00 PLOT EE-183 44000224914 1,916 .10 45 .00 PLOT EE-203 44000243885 129 ,620 .52 363 .27 PLOT EE-257 25002509318 39,400 .00 166.49 PLOT EE-263 25002510732 1,507.48 11 ,783.68 PLOT EE-267 25002509319 1,336.56 3,581 .82 PLOT EE-268 25002509320 2,130.27 137.04 PLOT EE-269 25002509321 1,616.67 121 .51 PLOT EE-271 25002511077 6,620 .90 182.91 PLOT EE-272 25002510209 1,541 .32 146.97 PLOT EE-276 19003277047 2,037 .97 186.23 PLOT EE-277 19003264914 1,235.66 140.12 BLANVIL FOODS EE-243 40453 1,478.02 185.27 FBI MACHINE SHOP EE-207 1682 1,924 .12 112.33 FBI MACHINE SHOP EE-224 1686 1,767 .59 112.33 HONDA CARS PASIG EE-284 34658 1,844 .68 154.52 CATHAY PACIFIC STEEL CORP EE-421 0460 605 .00 160.69 PAL PILOT'S RETIREMENT FUND EE-300 0147 8,031.00 167.70 PAL PILOT'S RETIREMENT FUND EE-337 0155 16,374 .00 55.00 PLOT EE-301 25002510211 1,751.38 730 .08 PLOT EE-355 44000270665 315,838.45 1,488.55 PLOT EE-356 44000270817 129,620 .52 159.22 PLOT EE-357 44000289637 5,336 .93 28,712 .59 PLOT EE-399 25002588127 4 ,325 .24 11 ,783.68 PLOT EE-400 25002586747 1,356 .36 485 .18 PLOT EE-401 25002586745 1,560 .35 173.82 PLOT EE-402 25002587621 2 ,365 .36 123.31 PLOT EE-403 25002588465 3,334 .25 141 .85 PLOT EE-404 25002586748 1,960 .70 206.65 PLOT EE-405 25002587622 1,625 .20 144.31 PLOT EE-420 25002587623 1,661.92 178.25 PHILEX INSURANCE EE-423 11295 1,280 .68 147.75 PHILEX INSURANCE EE-424 11326 1,269.47 151 .08 PHILEX INSURANCE EE-425 11325 1,736 .87 116.43 4 ,584.78 115.41 607 .98 157.90 551 .93 181.08 551 .93 49 .57 45 .00 45 .00 2 of 10

PHILEX INSURANCE EE-426 11324 27 ,712.43 ANNEX A Subtotal p 1,303 ,374.65 p FF-60 2,259.47 4th QUARTER 2000 FF-61 116 ,284 .09 PLOT FF-70 PLOT FF-71 19003363945 1,875 .91 170.54 PLOT FF-72 19003405878 1,355.40 123.22 PLOT FF-73 44000336359 2 ,006 .30 182.39 PLOT FF-144 44000317478 1,542 .17 140.20 PLOT FF-145 44000317330 1,341 .00 121 .91 PLOT FF-146 4400315755 4,921 .65 287 .53 PLOT FF-147 25002666609 2,950.44 212 .03 PLOT FF - 148 25002667452 1,305 .91 118.72 PLOT FF-149 25002666608 1,793 .17 163.02 PLOT FF-149 25002665731 1,550 .53 140.96 PLOT FF-150 25002665732 1,550 .53 140.96 PLOT FF-26 25002665734 1,930 .00 175.46 PLOT FF-17 25002665734 1,271 .36 115.58 FBI MACHINE SHOP & SERVICES FF - 19 25002665731 6 ,380 .57 28605 KODAK EXPRESS FF-91 35 ,600.00 3 ,236 .36 MICROPHASE FF-191 1707 PILIPINO TELEPHONE CORP FF-212 7933 47.70 4.34 VETERANS SECURITY AGENCY FF-213 7523 500 .00 45.45 PLOT FF-262 020385514 2,212 .52 201 .13 PLOT FF-263 5797 16 ,286.40 1,480.58 PLOT FF-264 19003463220 1,926 .23 175.11 PLOT FF-265 19003505124 2 ,220 .77 192.84 PLOT FF-266 25002747099 1,825 .95 124.50 PLOT FF-267 25002746263 1,708 .62 155.33 PLOT FF-268 25002745389 1,629.42 148.12 PLOT FF-278 25002745390 1,629.42 148.13 PLOT FF-182 25002745391 1,629.42 148.13 PLOT FF - 192 25002745392 1,335.57 121.42 HONDA CARS PASIG FF - 183 25002746264 2,562.70 168.35 HONDA CARS PASIG FF-330 25002746766 3,675 .56 163.08 KODAK EXPRESS FF-285 159228 729 .56 66.27 SYCIP SALAZAR LAW OFFICE FF-297 159729 729 .56 66 .32 PLOT FF-298 8683 376 .00 34 .18 PLOT FF-299 43738 35,600 .00 3,236 .36 PLOT FF-300 25002746265 3,172.22 282.21 PLOT FF-349 44000391050 3,004 .51 247 .52 PLOT FF-350 44000370422 2 ,203 . 17 200 .29 PLOT FF-351 44000372147 1,572.49 142.95 PLOT FF-352 44000371999 1,865 .29 126.24 PLOT FF-353 44000445340 2 ,256 .57 205 . 14 PLOT FF-343 19003606203 2 ,288 .37 206 .59 PILl PI NO TELEPHONE CORP 44000427151 1,515.24 137.75 VETERANS SECURITY AGENCY GG - 123 19003564306 1,968 .04 178.91 GG-143 022613089 1,212 .20 110.20 Subtotal GG-72 SA 16 ,286.40 1,480.58 GG-73 181 ,344.84 p 15 ,612.95 1ST QUARTER 2001 GG-74 p FAIRVIEW REALTY GG-94 FAIRVIEW REALTY GG-95 069 p 7,128.00 p 648 .00 PILIPINO TELEPHONE CORP GG-18 2,772.00 252 .00 PILIPINO TELEPHONE CORP GG-19 023747026 4 ,699 . 17 208 .81 PILIPINO TELEPHONE CORP GG-20 023747024 1,643 .91 PILIPINO TELEPHONE CORP 023747025 7 ,279 .06 70.20 PILIPINO TELEPHONE CORP 023747023 1,847 .01 341.44 PLOT 023747022 1,930 .50 167.91 PLOT 25002825306 2 ,380 .95 175.50 PLOT 25002826122 1,476.43 216.45 25002524491 1,719.11 134.22 156.28 @t) 3 of 10

PLOT GG-21 25002824493 1,408 .56 ANNEXA PLOT GG-22 25002824492 1,719.11 PLOT GG-23 25002825305 1,745 .51 128.05 PLOT GG-24 25002824490 1,763 .11 156.28 PLOT GG-25 25002525793 4 ,176.49 158.68 PLOT GG-26 25002825307 2,919.86 160.28 PLOT GG-27 4400479941 1,835.48 175.18 PLOT GG-28 44000481611 1,682 .89 230 .63 PLOT GG-29 44000481469 1,321.42 166.86 PLOT GG-30 19003706257 2,097 .21 152.99 PLOT GG-31 19003666102 2,070 .39 120.13 PLOT GG-32 44000499667 3,433.21 190.66 PLOT GG-132 25002905112 3,633 .13 188.22 PLOT GG-133 25002904287 1,392 .02 189.66 PLOT GG-134 25002904284 1,698 .79 20880 PLOT GG-135 25002904285 1,698.79 126.55 PLOT GG-136 25002904286 1,698 .79 154.44 PLOT GG-137 25002905110 1,773 .59 154.44 PLOT GG-138 25002905599 5,653 .85 154.44 PLOT GG-139 25002905929 1,400.82 161 .24 PLOT GG-140 25002905111 1,831 .60 182.66 HONOACARS GG-71 1,783 .69 127.35 MEGAMILLE CALTEX STATION GG-68 167173 1,790 .00 165.88 PHILEX INSURANCE GG-148 06878 162.15 PHILEX INSURANCE GG-149 11474 551 .93 162.73 SHARP TRAVEL SERVICES GG-147 11472 600 .99 CATHAY PACIFIC STEEL CORP GG-190/191 14682 8,722 .00 45.00 CATHAY PACIFIC STEEL CORP GG-213/214 59714/0461 315 ,838.45 49.00 FAIRVIEW REALTY GG-193 60706/0462 315 ,838.45 766 .55 TITONIC MANUFACTURING GG-194 3,036 .00 28 ,712.59 PILIPINO TELEPHONE CORP GG-297 070 32 ,300.00 28 ,712 .59 PILIPINO TELEPHONE CORP GG-298 0919 247 .95 276 .00 PILIPINO TELEPHONE CORP GG-299 024873193 2,792 .59 2 ,936 .36 PILIPINO TELEPHONE CORP GG-300 024873194 721 .10 22 .54 PLOT GG-204 024873192 472 .33 253 .78 PLOT GG-277 024873191 2,123.61 65 .55 PLOT GG-278 19003806429 3,602 .19 42 .94 PLOT GG-279 25002983914 1,852 .73 193.06 PLOT GG-280 25002983141 1,726 .22 208 .80 PLOT GG-281 25002983142 1,726 .22 168.43 PLOT GG-282 25002983143 1,414.35 156.93 PLOT GG-283 25002983144 1,752 .62 156.93 PLOT GG-284 25002983912 1,591 .91 128.58 PLOT GG-285 25002984709 2 ,787 .7 7 159.33 PLOT GG-286 25002983913 3,936 .05 128.58 PLOT GG-287 25002984386 1,735 .27 182.18 PLOT GG-288 44000536223 1,917 .32 182 06 PLOT GG-289 44000534552 1,446.23 157.75 HONOACARS GG-167 44000536079 2,301 .22 174.30 SILVER SPUR GG-164 44000554272 745 .87 131.48 VETERANS SECURITY AGENCY GG-199 163936 8 ,728 .00 223 .08 VETERANS SECURITY AGENCY GG-314 10336 16,467.36 67 .80 CATHAY PACIFIC STEEL CORP GG-4481 7008 16,286.40 793.45 CATHAY PACIFIC STEEL CORP GG-449 7143 27,420 .65 1,497.03 FAIRVIEW REALTY GG-404 05051 17 ,505 .81 1,480.58 PLOT GG-361 59708 2 ,640 .00 2,492 .79 PLOT GG-362 072 4,144.65 1,591.44 PLOT GG-509 19003866974 2 ,594 .85 240 .00 PLOT GG-510 19003905095 2,102.11 376 .79 PLOT GG-511 25003062657 1,676.42 235 .90 PLOT GG-512 25003061881 1,637 .92 191 .10 25003061882 3,562 .54 152.40 25003063128 148.90 185.87 4 of 10

PLOT GG-513 25003062655 1,717 .12 ANNEXA PLOT GG-514 25003061884 1,342.48 PLOT GG-515 25003061883 2,110.92 156.10 PLOT GG-516 25003063449 1,903 .01 122.04 PLOT GG-517 25003032656 2,367 .82 191 .90 CATHAY PAC IFIC STEEL COR P GG-451 31 ,174.46 123.09 FBI MAC HINE SHOP & SERVI CES GG-495 0507 37 ,816.00 214 03 PAL PILOT'S RETIRE MENT FUN D GG-360 1758 122 ,778.12 2,834 .04 305 p 1,101 ,162.46 p 3,437.82 Subtotal HH -11 11 ,161 .65 HH-12 98 ,078.22 2ND QUARTER 2001 HH-13 PLOT HH-14 19004003280 p 2,521 .08 p 229 .19 PLOT HH - 15 1,757 .37 159.76 PLOT HH-21 44000591000 1,719.43 156.31 PLOT HH-103 2,092 .22 190.20 PLOT HH-104 44000591140 3,040.75 276.43 PLOT HH-1 05 1,988 .36 180.76 PLOT HH -57 44000589518 1,703 .92 154.90 PLOT HH-107 3,290.62 165.90 PLOT HH-1 08 44000608511 2,265.92 168.69 MAR BH EL AIRCONDITIONIN G HH-109 9,000 .00 818.18 PH ILEX INSURANCE HH-106 19003965155 286,608.14 23 ,019.70 PH ILEX INSURANCE HH-233 97 ,093.49 7,916 .34 PHI LEX INSURANCE HH -134 25003141479 105,429.94 8,596 .00 PH ILEX INSURANCE HH -135 10 ,118 .63 825 .00 VALLE VERDE COUNTRY CLUB HH-136 25003142724 PLOT HH -137 308.00 28 .00 PLOT HH-146 25003142260 1,958 .19 178.02 PLOT HH- 154 2,501 .71 226 .73 PLOT HH -155 0076 1,691 .04 153.73 PLOT HH -156 1,776 .70 161 .52 PLOT HH-157 11549 1,988 .36 180.76 PLOT HH-158 2 ,098 .81 167.16 PLOT HH -159 11550 1,862 .26 133.83 PLOT HH -160 3,677.32 202 .58 PLOT HH-161 11551 1,746 .57 158.78 PLOT HH-162 1,709 .51 155.41 PLOT HH -163 11548 1,400.74 127.34 PLOT HH - 164 1,742 .51 158.41 PLOT HH-165 000033504 2,001 .01 181 .91 PLOT HH-166 1,291.72 117.43 PLOT HH-217 44000645436 1,664.31 151.30 PLOT HH -218 2,170.07 197.28 PLOT HH -141 44000662950 1,932 .07 175.65 PLOT HH-144 1,561 .11 141 .92 PLOT HH-2 14 44000645576 2,309.44 209 .95 ABOY'S RESTAURANT HH-238 2,162.38 188.36 HO NDA CARS HH-245 44000643952 HO NDA CARS PAS IG HH -119 538 .10 32 .50 HO NDA CARS PASIG HH -223 19004064341 6,570 .00 597 .27 MEGAMILLE CALTEX STATION HH -289 2,123.27 193 02 PAL PILOT'S RETIREMENT FUND HH -290 25003218903 1,590 .24 144.57 W ISPY TRADING CORP HH-291 1,530 .00 139.09 CATHAY PAC IFIC STEEL HH-293 25003219468 122,778.12 11 ,161 .65 CATHAY PACIFIC STEEL HH - 300 CATHAY PACIFIC ST EEL HH-301 25003219245 150.00 59.09 CATHAY PAC IFIC ST EEL HH -302 15,929 .54 1,448.14 PLOT HH -303 25003218905 47 ,909 .18 4,355 .38 PLOT 72 ,296 .56 6,572.41 PLOT 25003218374 339 ,526 .33 30 ,866.03 PLOT 25003218376 1,728.06 157.10 1,494.38 135.85 250032 18373 2,318 .60 210 .78 1,889 .76 171.80 25003218375 5 of 10 30002998079 44000700657 44000717981 44000699043 44000700517 19004102470 25003218907 98054 169590 18128 173646 56035 5041 10775 05 15 0514 0513 0516 44000756175 44000756038 44000773119 44000754585 ~

PLOT HH-366 25003290231 1 ,787 .71 ANNEXA PLOT HH-367 25003289698 1,714 .32 PLOT HH-368 25003289697 1,714 .32 162 .52 PLOT HH-369 25003289700 1,404 .65 155.85 PLOT HH-370 25003289699 2,396 .32 155.85 PLOT HH -375 25003290232 2 ,123 .02 127.70 PLOT HH-376 25003290569 3,839 .18 217 .85 PLOT HH-377 25003290233 2 ,523.42 161 .39 CITIMOTORS HH-386 2 ,739 .71 210 .31 FBI MACHINE SHOP & SERVICES HH -274 346937 35 ,600.00 173 .81 FBI MACHINE SHOP & SERVICES HH -342 1781 35 ,600.00 249 .06 HONDA CARS HH -354 1759 2,046 .00 3,236 .36 PAL PILOT'S RETIREMENT FUND HH-259 122,778 .12 3,236 .36 179004 p 1,402,822 .61 p 186 .00 Subtotal 11-60 070 11 ,161 .65 11 -24 121 ,932 .82 3RD QUARTER 2001 11-64 GLOBE TELECOM 11-65 SA2550251 p 1,898.78 p 161 .22 PAL PILOT'S RETIREMENT FUND 11 -79 125 ,803 .12 11,436 .65 PLOT 11-80 3305 PLOT 11 - 81 2 ,250 .96 204.63 PLOT 11-82 19004298656 2 ,075 .94 188.72 PLOT 11-83 1,423.16 129.38 PLOT 11 -84 19004262428 1,423.16 129.38 PLOT 11-91 PLOT 11-92 25003362662 22 .75 2 07 PLOT 11-93 3,451 .39 313 .76 PLOT 11-94 25003361582 2 ,295 .87 208 .72 PLOT 11-95 1,844.41 167.67 PLOT 11 -96 25003361580 1 ,774 .6 7 161 .33 PLOT 11-97 3 ,360 .31 217 .90 PLOT 11-145 25003361579 2 ,683 .85 243.99 PLOT 11-146 1,697 .58 154.33 PLOT 11-78 25003361581 1,865.95 169 .33 PLOT 11-162 1 ,503 .23 136 .66 PLOT 11-163 25003362105 HONDA CARS 11-59 628.39 62 .04 PRUDENTIAL GUARANTEE 11-274 25003362106 2 ,102 .97 191 .18 PRUDENTIAL GUARANTEE 11-180 2,603 01 220. 71 VETERANS SECURITY AGENCY 11-194 25003362441 2,823 .27 256 .66 CATHAY PACIFIC STEEL CORP 11-195 PAL PILOT'S RETIREME NT FUND 11-264 44000829269 846 .28 69 .00 PLOT 11-265 551 .93 45.00 PLOT 11-266 44000812314 18 ,212.40 1,655.67 PLOT 11-267 45 ,731.52 4 ,157.41 PLOT 11 -268 44000810725 125 ,803 .12 11,436.65 PLOT 11 -269 2 ,343.77 213 .07 PLOT 11-270 44000812177 6 9 8 .25 63.48 PLOT 11-271 1,827 .10 166 .10 PLOT 11-299 3003173026 1,827.10 166 .10 PLOT 11-232 1,496.44 136 .04 PLOT 11-207 19004361211 1,948 .10 177 .10 PLOT 11-408/409 1,830 .58 138 .13 AIRFREIGHT 2100 11-367 25003362107 3,693 .25 176.74 VETERANS SECURITY AGENCY 11-372 4 ,293 .71 218 .7 5 CATHAY PACIFIC STEEL CORP 11-373 180541 1,908.48 173.50 PAL PILOT'S RETIREMENT FUND 11-376 2 ,198.35 199.85 PLOT 11-377 11607 1,775.40 161.40 PLOT 11-378 15 ,066 .76 1 ,369 .71 PLOT 11608 339 ,526.33 30 ,866.03 PLOT 100 ,958 .00 9,178.00 PLOT 8225 1,261 .70 66 .85 2 ,299.43 190.53 0538 2 ,854 .26 240.30 1,902 .79 172.98 3311 1,516.43 137 .86 19004396966 6 of 10 30003268140 25003434078 25003434079 25003434081 25003434080 25003435157 25003434604 25003434940 25003434603 19004460749 524345 9052 59734/0568 3329 30003366372 25003434605 19004496498 44000868703 44000870145 (if)

PLDT 11-379 44000886994 2 ,558 .85 ANNEX A PLDT 11-380 44000948873 2 ,597 .21 PLDT 11-381 44000930578 1,867 .80 232 .62 PLDT 11-382 44000932019 1,554 .55 228 .75 PLDT 11-383 44000870282 1,776 .57 169.80 PLDT 11-384 44000932156 1,812 .80 141 .32 PLDT 11-437 2500035085 3,768.72 161 .51 PLDT 11-444 25003509039 2,093 .32 164.80 PLDT 11-445 25003507959 1,483.63 162.45 PLDT 11-446 25002508484 2,200.44 130.29 PLDT 11-447 25003507958 1,859 .37 134.88 PLDT 11-448 25003507957 1,738 .37 200 .04 PLDT 11-449 25003507956 1,738 .37 169.03 PLDT 11-450 25003508486 2 ,333 .12 158.03 PLDT 11-471 25003508822 3,989 .21 158.03 CATHAY PAC IFIC STEEL CORP 11-433 31 ,714.02 190.40 COSMOPOLITAN CLEANERS 11-362 0569 192.72 FBI MACHINE SHOP & SERVICES 11-432 3065 165.00 2 ,883 .09 SEAHAWK TRANSPORT 11-369 1797 18,745 .63 815 26 , 199 .81 15.00 Subtotal 956,101 .04 p 1,704 .15 p 94,908 .00 p 600 .00 4TH QUARTER 2001 JJ-15 3399 p 2 ,437 .24 84 ,129.49 PAL PILOT'S RETIREMENT FUND 1,711 .17 3,420 .16 8,628 .00 PLDT JJ-31 44001012196 1,766.17 221 .57 4,069 .54 155.56 PLDT JJ-32 44000995629 1,636.44 210 .92 3,907.16 160.56 PLDT JJ-33 44000989702 1,738 .37 369 .96 1,738.37 148.77 PLDT JJ-34 44000994080 2,029 .87 220.45 1,453.93 158.03 PLDT JJ -35 44001012141 1,520 .35 158.03 2,415 .93 184.53 PLDT JJ-36 44000995494 2,674 .62 132.18 1,869 .26 138.21 PLDT JJ-107 25003582041 4,648 .76 162.80 213 .11 PLDT JJ-108 25003581274 15,742 .31 169.93 18,506 .02 497 .74 PLDT JJ-109 25003581273 339 ,526 .33 97 ,933 .00 1,431 .12 PLDT JJ-11 0 25003581275 1,682 .37 745 .37 30,866 .03 PLDT JJ-111 25003581276 2,672.86 8,903 .00 1,738 .37 PLDT JJ-112 25003582233 1,467.20 63.47 1,889.99 207 . 18 PLDT JJ-113 25003581728 2,107.52 234.41 2,400 .08 158.03 PLDT JJ-114 25003581729 1,801 .98 133.38 1,501 .76 171 .82 PLDT JJ-115 25003581727 1,752 .54 218 . 19 1,752 .54 163.82 CITIMOTORS , INC JJ-125 to JJ-127 2,782 .59 136.52 1,838 .41 159.32 CATHAY PACIFIC STEEL CORP JJ-157 62251 1,503.30 132.82 3 ,356 .78 252.96 CATHAY PACIFIC STEEL CORP JJ - 157 62251 24 ,210.78 167.13 1,164.38 136.66 CATHAY PACIFIC STEEL CORP JJ-178/179 0579 19,426.56 193.37 2 ,200 .98 PAL PILOT'S RETIREMENT BOARD JJ-133 3348 105.82 1,766 .05 PLDT JJ-137 3003566712 PLDT JJ-143 44001077037 PLDT JJ - 144 44001060472 PLDT JJ-145 44001060337 PLDT JJ-146 44001058923 PLDT JJ-147 44001054545 PLDT JJ-158 44001076982 PLDT JJ-183 25003651825 PLDT JJ-184 25003651453 PLDT JJ-185 25003651451 PLDT JJ-186 25003651450 PLDT JJ-187 25003651452 PLDT JJ-188 25003651824 PLDT JJ-189 25003652317 PLDT JJ-190 25003652130 FBI MACHINE SHOP & SERVICES JJ-150 1815 HONDA CARS PASIG JJ-167 189648 VETERANS SECURITY AGENCY JJ-136 3374 ((iJ ) 7 of 10

VETERANS SECURITY AGENCY JJ-171 3425 18 ,212.40 ANNEXA PAL PILOT'S RETIREMENT FUND JJ-21 0 3357 979 ,333 .00 GLOBE TELECOM JJ-289 25227825 1,655 .67 PLOT JJ-207 23003651826 1,791 .16 8 ,903 .00 PLOT JJ-208 30003666395 2 ,394 .97 PLOT JJ-224 44001127023 132.58 PLOT JJ-225 44001126890 751 .77 167.27 PLOT JJ-226 44001121223 1,758.45 PLOT JJ-227 4401125508 1,492.82 64 01 PLOT JJ-228 44001142879 2,131 .33 159.86 PLOT JJ-260 25003722042 2,205 .68 135.71 PLOT JJ-261 25003721684 2,341 .74 193.76 PLOT JJ-262 25003721683 1,891.70 200 .52 PLOT JJ -263 25003721682 1,434.96 212 .89 PLOT JJ-264 25003721681 2,487.46 171.97 PLOT JJ -265 25003722043 1,731 .36 130.45 PLOT JJ -266 25003722535 1,751.56 226 .13 PLOT JJ -267 25003722041 2 ,990 .24 139.23 PLOT JJ-268 25003722349 1,544 .96 159.23 BIG 5 PHOTO JJ -251 21264 1,802 .06 201 .90 HONDA CARS JJ-276 193403 34 ,846.70 140.45 162.88 Subtotal KK-14 165.75 177.05 KK-65 4 ,289 .69 1ST QUARTER 2002 KK-10 p 1,747 ,115.77 p 15.07 PAL PILOT'S RETIREMENT FUND KK-46 389 .97 PAL PILOT'S RETIREMENT FUND KK-47 75 ,154.40 PLOT KK-48 PLOT KK-59 3373 p 97 ,933.00 p 8,903 .00 PLOT KK-60 97 ,933.00 8,903 .00 PLOT KK-61 3383 PLOT KK-68 2,461 .07 223 .73 PLOT KK-69 44001142828 4,143.96 176.21 PLOT KK-70 4 ,569 .39 202 .51 PLOT KK-71 44001190921 3,013.28 138.22 PLOT KK-72 4,258 .07 193.34 PLOT KK-73 44001201226 3,513 .03 159.51 PLOT KK-74 5,031 .80 233 .70 PLOT KK-75 44001191752 3,486 . 10 180.22 PLOT KK-19 1,804 .83 164.08 PLOT KK-51 44001188312 1,750 .93 159.18 PLOT KK-160 2,069 .93 188.18 HONDA CARS PASIG KK-173 44001191859 1,543 .34 140.30 VETERANS SECURITY AGENCY KK-174 1,750 .93 159.18 PLOT KK- 175 44001201186 1,434.44 130.40 PLOT KK-176 1,795 .32 163.21 PLOT KK-177 25003793042 3,329 .39 302 .67 PLOT KK-178 19 ,426 .56 1,766 .05 PLOT KK-233 25003792742 2,591 .29 200 .32 PLOT KK-254 2,417 .12 219 .74 PLOT KK-255 25003792396 2,386 .10 216 .92 PLOT KK-256 1,882 .38 171 .13 PLOT KK-257 25003792398 1,591 .19 144.65 PLOT KK-258 1,750 .93 159.18 PLOT KK-259 25003792399 2,122.41 192.95 PLOT KK-260 PLOT KK-269 25003792397 785 .98 63 .91 PLOT KK-277 2,171 .66 178.39 PLOT KK-278 25003793225 4,276 .93 360 .76 PLOT 1,543 .36 140.31 PHILEX INSURANCE 25003792741 1,740 .60 159.18 PHILEX INSURANCE 1,837 . 17 165.33 194047 1,644 . 14 130.81 3,047.46 188.56 3731 1,832 .04 166.55 25003792743 551 .93 45 .00 15 ,220.93 1,240 .98 44001251022 44001251060 44001241862 44001242609 44001242704 44001239549 75000241431 25003862878 25003862548 25003862549 25003862547 25003862877 25003863349 25003863169 25003862876 11741 11726 r7:tf1) 8 of 10

ANNEX A PHI LEX INSURAN CE KK-2 80 11738 3,000 .32 241.00 PH ILEX INSURANCE KK-279 11745 PAL PILOT'S RETIREMENT FU ND KK-290 3398 3,181.37 135.21 PL OT KK-286 75000278215 PLOT KK-3 16 4400 1290190 97 ,933.00 8,903 .00 PL OT KK-317 44001298643 PLOT KK-318 44001298606 703 .03 63 .91 PL OT KK-319 44001287127 PLOT KK-320 44001290286 1,492.60 137.13 PLOT KK-321 44001289445 2,202 .79 202 .35 Subtotal Total 2,349 .05 215 .35 2,099 .33 190.85 1,731.48 157.41 1,943 .23 178.43 p 427,278.19 p 37 ,056.00 p 7,119,199.56 p 559,358.95 (d) Input VAT paid on purchase of goods and services without supporting document 2ND QUARTER 2000 p 293,803.21 p 26 ,709.38 CATHAY PACIFIC STEEL NEW EASTEC H INTL CORP 23 ,667 .00 2,151 .55 Subtotal p 317,470.21 p 28,860 .93 4TH QUARTER 2000 p 81 .00 p 7.35 KODAK EXPRESS PLOT 625 .80 56 .89 PHI L PIZZA INC RUSTA N COFFEE CORP 930 .00 83 .09 TAKAYAMA JAPAN ESE RESTAURAN T MERIDIAN 360.00 32 .73 NORTH AMERICA PCIB 984 .50 89 .50 Subtota l 3,000 .32 241 .00 12,265 .00 1,000 .00 3,711 .61 315.48 p 21 ,958 .23 p 1,826 .04 2ND QUARTER 2001 p 10,069 .56 p 906 .26 FBI MACHI NE SHOP & SERVICES IND'L TECH DEVT INST 6,390.01 580.91 MHE DEMAG PHILEX INSURANCE AGE NCY 13,452.01 1,222 .91 Subtotal 101 ,131 .94 9,193.81 p 120,973 .96 p 11 ,903.89 3RD QUARTER 2001 p 8,033,644.44 p 723 ,028 .00 CATHAY PAC IFIC STEEL CORP 1,637 .00 148.82 EDISO N ELECTRI CAL INTEG . HO NDA CARS MAKATI 392 ,000 .00 35,636 .36 VALLEY SPORTS COR PORATION 1,160.00 106.37 Subtotal p 8,428,441.44 p 758 ,919.55 4TH QUARTER 2001 p 200.00 p 18.18 MAKATI COMM ERCIAL ESTATE UPTOWN IND'L SALES 400 .00 36 .36 PHI LEX INSURANCE AGE NCY 749 .80 68 . 16 Subtotal p 1,349.80 p 122.70 1ST QUARTER 2002 p 4,568.00 p 415 .27 BAYTAN INDUSTRIES Total p 8,894,761.64 p 802,048.38 (g) Input VAT representing payments of technical fees to GSI Technologies, USA 2nd QUARTER 2000 p 505,238.41 p 50 ,523.84 3RD QUARTER 2000 47 ,445 .69 4TH QUARTER 2000 474,456 .86 49,267 .10 492 ,670. 70 9 of 10 rr:~o )

.' ANN EX A 1ST QUARTER 2001 2nd QUARTER 2001 320,42 1.00 32 ,042 .10 3RD QUARTER 2001 307,661 .50 30 ,766.15 4TH QUARTER 2001 378 ,941 .30 37 ,894.13 1ST QUARTER 2002 359,413.03 35 ,941 .30 Total 266 ,148.52 26 ,614 .85 p 3,104,951 .32 p 310 ,495 .16 Grand Total p 19,118,912.52 p 1,671 ,902.49 ~I 10 of 10