GORONES DEVELOPMENT CORPORATION (Now known as Aboitiz Construction Group Incorporated) v. COMMISSIONER OF INTERNAL REVENUE

REPUBLIC OF THE PHILIPPINES Court Of Tax Appeals QUEZON CITY SECOND DIVISION GORONES DEVELOPMENT C.T.A. CASE NO. 6363 CORPORATION (now known as Members: Aboitiz Construction Group, CASTANEDA, JR., Chairman UY, and Incorporated), PALANCA-ENRIQUEZ, JJ. Petitioner, Promulgated: -versus- SEP 0 1 2006 ,--- COMMISSIONER OF INTERNAL REVENUE, Respondent. X ------------------------------------------------------------------------------------ X DECISION PALANCA-ENRIQUEZ, J.: Is Gorones Development Corporation (now known as Aboitiz Construction Group, Incorporated, hereafter "petitioner") entitled to a refund or issuance of a tax credit certificate in the amount of P787,260.07, allegedly representing overpaid output VAT on government tfte--

C.T.A. CASE NO. 6363 2 DECISION contracts entered into by petitioner and the Department of Public Works and Highways (hereafter "DPWH")? THE CASE This is the issue in this Petition For Review filed by the petitioner praying for the refund or issuance of tax credit certificate in the amount of P787,260.07, allegedly representing erroneously paid Value Added Tax (hereafter "VAT") on government contracts entered into by petitioner and the DPWH which were withheld and remitted by the latter on December 29, 1999 and January 10, 2000. THE FACTS The facts are not in dispute. Petitioner is a corporation organized and existing under Philippine laws and is engaged mainly in construction business and leasing of heavy equipments, with principal office address at 3rd Floor, Chua Tiam Building, A. Del Pilar Street, Guizo, Mandaue City. Sometime in January 1995, petitioner entered into a Contract Agreement with the DPWH for the construction/improvement of arterial roads and causeway of Metro Cebu Development Project Phase II .~

C.T.A. CASE NO. 6363 3 DECISION August 15 , 1996, another Agreement was executed between petitioner and the DPWH for the construction/restoration of Cebu Transcentral Road, Contract Package No. 06, Highway Management Project. The third Contract and Agreement was executed between the same parties on January 23 , 1997 for the Implementation of Civil Works for Contract Package V, Buenavista-Tali bon Section, Bohol Province, under the Arterial Road Development Project, Phase I (Bohol Circumferential Road Improvement Project). These government contracts allegedly gave ri se to unutilized creditable withholding VAT in the amounts of P590,826.75 and P196,433.32, which were remitted on December 29, 1999 and January 10, 2000. '-...._ For the period October 1, 1999 to January 31 , 2000, petitioner filed its Quarterly Value-Added Tax Return and Monthly Value-Added Tax Declaration reflecting an aggregate excess input tax in the amount of P40,565 ,046.99, as of January 31, 2000 (Annexes "K " and "L ", Petition for Review). Petitioner believed that it has overpaid its output value-added tax (VAT) liability for the period October 1, 1999 to January 31 , 2000 inasmuch as its monthly VAT declaration shows an excess input tax in r)Ue-

C.T.A . CASE NO. 6363 4 DECISION the amount of P40,565,046.99 and part of the P40,565 ,046.99 was the amount ofP787,260 .07 as creditable input VAT withheld by the DPWH. Hence, on the basis thereof, petitioner filed on two separate occasions written applications for claim for refund or issuance of tax credit certificate with the Commissioner of Internal Revenue (hereafter "respondent"). The first application was filed on January 10, 2000 in the amount of P22 ,160,072.75 which included the sum of P590,826.75 (Annex "M ", Petitionfor Review), while the second application was filed on January 8, 2001 in the amount of P2,328,098.30 which included the sum of P196,433.32 (A nnex "N ", Petitionfor Review). On September 8, 2000, petitioner changed its corporate name from Gorones Development Corporation to Aboitiz Construction Group, Incorporated, as certified by the Securities and Exchange Commission through the Certificate of Filing of Amended Articles of Incorporation dated October 24, 2000. On December 6, 2001, petitioner filed the instant Petition for Review with this Court in order to toll the running of the two-year prescriptive period under the law. ~

C.T.A. CASE NO. 6363 5 DECISION On January 10, 2002, respondent filed his Answer alleging by way of Special and Affirmative Defenses that the petitioner has failed to demonstrate that the taxes sought to be refunded were erroneously or illegally collected; that in an action for tax refund/credit, the burden of proof is upon the taxpayer to establish its right to refund and failure to adduce sufficient proof is fatal to the action for tax refund/credit; that it is incumbent upon the petitioner to show that it has complied with the provision of Section 204 in relation to Section 229 of the Tax Code, as amended; and that claims for refund are construed strictly against the claimant for the same partakes of the nature of exemption from taxation . Petitioner presented Luis Canete, Jimmy Bacalso, and Marichu Durangparang, as witnesses, and submitted documentary exhibits, which were admitted by the Court, with the exception of Exhibits "C ", "C-18, "D ", and "D-1 8 ". On the other hand, respondent submitted the case for decision, without presenting any evidence. Thereafter, both parties were ordered to file their respective memoranda, within thirty (30) days from notice. Considering that only ~ �

C.T.A. CASE NO. 6363 6 DEC ISION petitioner filed its Memorandum on March 12, 2004, the case was deemed submitted for decision on March 24, 2004. On September 9, 2004, petitioner filed a "Motion To Reopen the Case For Further Presentation of Evidence", and there being no opposition from the respondent, the Court granted the motion. Petitioner presented Marichu Durangparang, Ramoncito Ona, Narciso Laguerta, Maria Soledad Maddela, Fe Caling, Ferrari Llamson, Jonathan Pecora, as additional witnesses, and additional documentary exhibits, marked as Exhibits " V", "VI "," W", " X "," Y ", " Z "," AA ", "BE "," CC ", and "CC-I", which were admitted by the Court, with the exception of Exh. "Y ", for failure of petitioner to present the original document for comparison. Thereafter, respondent was granted thirty (30) days from January 23 , 2006 to file his Memorandum, while petitioner was given twenty (20) days from notice to file its Memorandum, afterwhich the case shall be deemed submitted for decision.

C.T.A. CASE NO. 6363 7 DECISION Considering that only the petitioner filed its " Supplemental Memorandum" on February 23 , 2006, the case was deemed submitted for decision on March 23, 2006. ISSUES As stipulated upon by the parties, the following are the issues for the consideration of this Court: FACTUAL I WHETHER OR NOT THERE IS A VAT PAYABLE BY THE PETITIONER FOR THE 4TH QUARTER OF 1999 UNDER BIR TAX RETURN 2550Q FILED BY THE PETITIONER AT BIR MANDAUE DISTRICT. II WHETHER OR NOT THERE ARE VAT PAYABLES OR TAX PAYABLES BY THE PETITIONER FOR THE MONTH OF JANUARY 2000 AND THE FIRST QUARTER OF 2000 UNDER ITS VAT RETURNS (BIR FORMS 2250M AND 2250Q FOR SAID PERIOD FILED BY THE PETITIONER IN BIR MANDAUE DISTRICT. III WHETHER OR NOT THE FOLLOWING AMOUNTS WITHHELD BY DPWH FROM ITS PAYMENT TO a � - THE PETITIONER ARE STILL UNUSED BY THE

C.T.A. CASE NO. 6363 8 DECISION PETITIONER OR STILL OUTSTANDING IN THE PETITIONER'S BOOK OF ACCOUNTS UP TO THE PRESENT. Month of Withholding Amount Withheld byDPWH from Petitioner December 1999 P590,826.75 January 10, 2000 196,433.32 LEGAL I WHETHER OR NOT THE MONTHLY VALUE ADDED TAX WITHHELD AT SOURCE BY DPWH FROM ITS PAYMENT TO THE PETITIONER AND PAID TO THE BIR PART OF THE LATTERS INPUT TAX AS THE SAID TERM IS DEFINED UNDER THE SECOND TO THE LAST PARAGRAPH OF SECTION 110 (A) OF THE TAX CODE. II WHETHER OR NOT PETITIONER IS CLAIMING TAX CREDIT OR REFUND OF EXCESS INPUT TAX UNDER SECTION 112 OF THE TAX CODE. III WHETHER OR NOT PETITIONER IS ENTITLED TO CLAIM UNDER SECTION 204 � OF THE TAX CODE AS REFUND OR TAX CREDIT THE EXCESSIVE PAYMENT OF VAT COVERING THE PERIOD 4TH QUARTER OF 1999 TO FIRST QUARTER OF 2000. t#

C.T.A. CASE NO. 6363 9 DECISION THE COURT'S RULING The Petition is devoid of merit. Principal issue The foregoing issues raised by both parties boil down to the principal issue of whether nor not petitioner is entitled to a refund or Issuance of a tax credit certificate in the amount of P787,260 .07, representing overpaid output VAT on government contracts entered into by petitioner and the DPWH. Petitioner 's Arguments Petitioner' s principal contention is that it has overpaid its output VAT liability (by way of unutilized creditable VAT in the amount of P787,260.07) for the period October 1, 1999 to January 31 , 2000 since it has an unapplied input VAT credits of P40,565,046.99 as of January 31 , 2000. Petitioner anchors its claim for tax refund or issuance of tax credit certificate on Section 229 of the National internal Revenue Code of 1997, as amended (hereafter "NJRC of1997, as amended'), which provides: ~

C.T.A. CASE NO . 6363 I0 DECISION "SEC 229. Recovery of Tax Erroneously or Illegally Collected. - No suit or proceeding shall be maintained in any court for the recovery of any national internal revenue tax hereafter alleged to have been erroneously or illegally assessed or collected, or of any penalty claimed to have been collected without authority, or of any sum alleged to have been excessively or in any manner wrongfully collected, until a claim for refund or credit has been duly filed with the Commissioner; but such suit or proceeding may be maintained, whether or not such tax, penalty, or sum has been paid under protest or duress. In any case, no such suit or proceeding shall be filed after the expiration of two (2) years from the date of payment of the tax or penalty regardless of any supervening cause that may arise after payment: Provided, however, That the Commissioner may, even without a written claim therefore, refund or credit any tax, where on the face of the return upon which payment was made, such payment appears clearly to have been erroneously paid." Discussion Before discussing the factual issues raised by the parties, the Court finds it necessary to first determine if indeed petitioner has unutilized input VAT credits in the amount of P40,565 ,046.99 as of January 31 , 2000 and whether or not the amounts of creditable VAT withheld appearing in the VAT returns for the period January 1, 1998 to December (}!&__

C.T.A. CASE NO. 6363 11 DECISION 31 , 1999 are supported by certificates of withholding and/or other valid documents. Petitioner's Evidence-In-Chief After a careful examination and evaluation of the evidence-in-chief presented by petitioner, the Court finds the following discrepancies: 1) The Commissioned Independent CPA did not conduct a detailed audit. This is evident in the audit procedures' phrases appearing in the CPA Report, such as "Examined substantially all of the suppliers' invoices xxx" and "Computed xxx on test basis" (Exhibit "A"); 2) The exceptions noted by the Commissioned Independent CPA pertain mostly to input taxes, with no supporting documents in the total amount of P4,997, 192.47 for the years 1998 to 2002 (Exhibit "C- 18 '') ; and 3) The input VAT credits as of December 31, 1997 are unsubstantiated, for the reason that the petitioner failed to present the corresponding evidence to said input VAT credits. Neither was there a ~

C.T.A. CASE NO. 6363 12 DECISION pre-marked document prior to 1998 in the report of the Commissioned Independent CPA. In view of the above discrepancies, the Court deems it necessary to further examine the evidence adduced by the petitioner to determine the validity of its claim. After a careful scrutiny of the mvmces and official receipts submitted by petitioner to support its unutilized input VAT for the years 1998 to 1999, the Court finds that said invoices and official receipts do not conform with the VAT Invoicing Requirel1)ents, prescribed under Sections 108(C), I 13, 237, 238 of the NIRC of 1997, as amended, and Section 4.108-1 ofRevenue Regulations No. 7-95, as hereinbelow shown: For the Year 1998 (See Annex "A" for details) FINDINGS 1stQtr. 2nd Qtr. 3rd Qtr. 4th Qtr. Total 1 Input VAT supported only by p 40,540.40 p 646 ,811 .85 p 69,463 .58 p 88 ,850.37 p 845,666.20 Bil ling Statement, Account Summary, Debit Memo. Debit Note and Delivery Receipts 2 Input VAT supported by invoices 2,586 .72 12 ,226.33 47 .6 102 .6 4 14,963 .29 OR not in the name of petitioner 3 Additional input VAT with no 23,449 .15 72 ,506 .22 178,647.90 336,088 .77 610 ,692 .04 supporting document 4 Input VAT with noV , TIN , TINN 96 ,549.76 97 ,923 .32 10 ,3 84 .33 63 ,740 .84 268,598 .25 or BIR Permit No. ~

C.T.A. CASE NO. 6363 13 DEC ISION 5 Non-VAT Invoices/OR 15,089 .80 22,240 .07 16,283 .31 8 ,183 .64 61 ,796 .82 6 Input VAT on sales of services 1 ,112 ,999.43 1'11 0,488.64 1'127,686.60 1'793,009.15 5,144,183 .82 not supported by OR 7 Input VAT supported by invoices/ 48,551 .87 17,832 .93 10,451 .55 76,836.35 OR not formally offered 8 Overstated input VAT 57,454 .54 20,296 .37 77,750 .91 TotaI P1 ,291 ,215 .26 P2 ,068 ,202.84 P1 ,420 ,346.25 P2 ,320 ,723 .33 p 7,100,487 .68 For the Year 1999 (See Annex "B" for details) FINDINGS 1st Qtr. 2nd Qtr. 3rd Qtr. 4th Qtr. Total 1 Input VAT supported only by p 60 ,987.95 p 81 ,356.47 p 148,704 .12 p 127,918 .81 p 418 ,967 .35 Billing Statement, Account Summary, Debit Memo, Debit Note and Delivery Receipts 2 Input VAT supported by invoices 242 1,125 .27 745 . 11 2,631 .59 4 ,743 .97 OR not in the name of petitioner 3 Additional input VAT with no 202,326 .31 11 9,464.97 45 ,665.82 15,701 .56 383 ,158.66 supporting docume nt 4 Input VAT with noV, TIN , TINN 185,943 .84 87 ,140.99 179,283.93 27 ,261 .85 479 ,630 .6 1 or BIR Permit No. 5 Non-VAT Invoices/OR 18,999 .33 33,187 .35 73 ,718.76 125 ,905.4 4 6 Input VAT on sales of services 950,821 .55 615,216.43 960,068.15 1,201 ,032 .07 3,727 ,138 .20 not supported by OR TotaI P1 ,419,320.98 P 937,491.48 P1 ,334,467.13 P1 ,448 ,264 .64 p 5,139,544 .23 Grand Total P2 ,71 0,536.24 P3,005 ,694.32 P2 ,754 ,813.38 P3,768,987 .97 P12 ,240 ,031.91 Therefore, the amount of P12,240,031.91 which is supported by invalid VAT documents does not yield input VAT credit. The Court, ~

C.T.A. CASE NO. 6363 14 DEC ISION likewise, disallows the input taxes pnor to 1998 in the amount of P19,907,892.83 (Exhibit "B-2 ") for failure of petitioner to present the corresponding supporting documents. Petitioner's Additional Evidence The additional evidence presented by petitioner consisting of the following: 1) Affidavit of Marichu Durangparang (Exhibit "V') and Jonathan Pecora (Exhibit "CC"); 2) Testimonies of Ramoncito Ona, Narciso Laguerte, Maria Soldedad Maddela, Fe Galing and Ferrari Llamson; 3) Letters of Authority Nos. 130878 and 19424 for the years 1996 and 1997 (Exhibits "W" and "Z'); and 4) Letter of Termination No. 004527 for the taxable year 1996 (Exhibit X); to prove that its input taxes prior to 1998 are valid cannot likewise be given evidentiary weight.

C.T.A . CASE NO. 6363 15 DECISION The Court notes that the aforementioned evidence pertain to the assessment of internal revenue taxes of petitioner and not for purposes of VAT refund. Respondent's determination of petitioner's tax liabilities for the years 1996 and 1997 will not in any way affect the Court' s independent evaluation of petitioner's claim for refund . As regards the creditable withholding VAT for the period January 1998 to February 2002 (Exhibit "E ") and the output VAT liabilities for the years 1998 to 2002 (Exhibit "B '), the Court finds the Certificates of Creditable Tax Withheld at Source, the Monthly Remittance Returns of Internal Revenue Taxes Withheld on Government Money Payments VAT, the Certification issued by the Revenue Accounting Division and the Quarterly VAT Returns for the same period (Exhibits "B-2 " to " B-1 8 ", "E-1" to "E-63 ", "F-1" to "F-3 ", "G-1 " to "G-31 ') sufficient and We adopt the figures appearing therein. With the above evaluation, the Court finds the following as the validly supported input VAT for the first quarter of 1998 to the fourth quarter of 1999, to wit:

C.T.A. CASE NO. 6363 16 DEC ISION Period Input VAT Per Disallowed Input VAT Allowable Involved 1�� Qtr. 1998 Qtrly. Return Per Court Per CPA ln~ut VAT 2"d Qtr. 1998 3'd Qtr. 1998 p 5,591 ,055.76 p 1,291 ,215 .26 p 166,129.10 p 4,133,711.40 4"' Qtr. 1998 1�� Qtr. 1999 4,565,201 .67 2,068,202 .84 173 ,859 .03 2,323 ,139 .80 2nd Qtr. 1999 3'd Qtr. 1999 3 ,962 ,699 .06 1,420 ,346 .25 105 ,479 .63 2 ,4 36,8 7 3 .18 4th Qtr. 1999 Total 5,221,600 .54 2 ,320,723 .33 117,674.23 2,783,202 .98 3,635,41 7.05 1,41 9,320 .98 205 ,313 .23 2,010 ,782.84 4 ,336 ,052.17 937 ,491.48 239 ,88 4.74 3,158,675 .95 3 ,594 ,328 .84 1,334 ,467.1 3 212,732 .57 2 ,047,129 .14 3 ,967 ,736.42 1,448 ,264.64 42,520.57 2,476,951 .21 p 34 ,874 ,091 .51 p 12,240,031.91 p 1,263,593.10 p 21 ,370,466 .50 Likewise, the 1998 and 1999 creditable VAT withheld based on the evidence presented amounted to P38,933 ,769 .28, detailed as follows: Period Creditable Involved VAT Withheld 1st Qtr. 1998 2ndQtr.1998 p 6 ,225 ,235.76 3rd Qtr. 1998 4thQtr. 1998 5 ,022,489.76 1 st Qtr. 1999 3 ,721 ,640 .78 2nd Qtr. 1999 9 ,032 ,163.28 3rd Qtr. 1999 4,775 ,892.05 4 th Qtr. 1999 4 ,988,915.05 3,766,849 .95 Total 1,400,582 .65 p 38,933 ,769.28 With the above-verified input VAT credits in the total amount of P60,304,235.78 (P21 ,370,466.50 + P38,933 ,769.28), the Court will now determine whether or not petitioner has unapplied input VAT credits for the years 1998 and 1999. ~

C.T.A. CASE NO. 6363 17 DECISION First-In First-Out Rule This Court notes that the excess input taxes beginning January 1, 1998 up to December 31 , 2002 have been cumulatively added and forwarded to the succeeding quarters under the line "Input Tax Carried Over from Previous Quarter". Consequently, petitioner should offset first the accumulated input taxes of the previous quarter against the output tax liability of the current quarter until the first ones are fully utilized. This is pursuant to the "first-in-first-out" rule, and in accordance with the purpose of carrying over of input VAT credits (Pro digy Distributors, Inc. (cu rrently HA VI Food Se rvices Philippines, Inc.) vs. Co mmissioner of Internal Revenue, CTA Case No. 5433, Resolution, August 6, 1998; Toshiba Information Equipment (Phils.), Inc. vs. Commissioner of Internal Revenue, CTA Case No. 5762, October 16, 2000). Hereinbelow IS a table which will show how the verified input VAT credits should be applied against petitioner' s output VAT liabilities under the first-in-first-out method- Input VAT Total Excess Period Input VAT Carried from Input VAT Output VAT Excess Creditable With- Input VAT Involved thi s Qtr. Previous Qtr. Credits Liability Input VAT holding VAT Credits 1stQtr. 98 _,., P 4,133 ,711.40 ( P 4,133,71 1.40 rP 6,744 ,494 .05 , P(2,610,782 .65) P 6,225 ,235.76 P 3,614,453.11 2nd Qtr. 98 2,323,139.80 P 3,61 4,453.11 5,937 ,592 .91 6,613,259.96 (675,667 .05) 5,022 ,489.76 4,346,822 .71

C.T.A. CASE NO. 6363 18 DEC ISION 3rd Qtr. 98 2,436 ,873 .18 4 ,346 ,822 .71 6,783 ,695 .89 5,072 ,311.43 1,711 ,384.46 3,721 ,640 .78 5,433 ,025.24 4th Qtr. 98 2,783,202 .98 5,433 ,025 .24 8 , 2 1 6 ,2 2 8 . 2 2 9,641 ,871 .77 7,606 ,519 .73 1st Qtr. 99 2,010 ,782 .84 7,606 ,519 .73 9,617 ,302 .57 4 ,625,433.49 (1 ,425 ,643 .55) 9,032 ,163.28 9,767 ,761 .13 2nd Qtr. 99 3,158,675 .95 9,767,761 .13 12,926 ,437 .08 6,852 ,749 .80 11 ,062 ,602 .33 3rd Qtr. 99 2,047 ,129.14 11 ,062 ,602 .33 13,109,731.47 5,512 ,657 .30 4 ,991 ,869 .08 4,775 ,892 .05 11 ,363 ,924 .12 4th Qtr. 99 2,476 ,951 .21 11 ,363 ,924 .12 13,840,875 .33 6,584 ,010 .24 8,657,447.74 6 ,073 ,687 .28 4 ,988 ,915 .05 7 ,597 ,074 .17 3,766,849 .95 7,256 ,865 .09 1,400 ,582 .65 P21 ,370 ,466 .50 P 74 ,565 ,574.87 P51 ,646,788 .04 p 38 ,933 ,769 .28 For clarity, the amount of P8,657,447.74 IS comprised of the following input taxes, to wit: 4th Quarter 1999 P1 ,400,5 82.65 P3 ,877,533 .86 Creditable VAT Withheld 2,476,951.21 Input VAT on purchases 4,779,9 13 .88 P3 ,766,849.95 P8.657.447.74 3RD Qu arter 1999 1,013,063.93 Creditable VAT Withheld Input VAT on purchases Total input VAT acco unted for Based on the above presentation, the creditable VAT withheld of P787,206.07 remained unutilized, having been part of the excess input VAT credits ofP8,657,447.74, as of December 31 , 1999. However, the unapplied amount of input VAT credits of P8,657,447.74 as of December 31, 1999 was again forwarded to the succeeding quarters as ev idenced by the quarterly VAT returns for the first quarter of 2000 to the fourth quarter of2002 (Exhibits "B-10 " to "B-1 8", " 0", "R ", and "T'). ~

C.T.A. CASE NO. 6363 19 DEC ISION Considering that petitioner carried over said excess credits, it must apply first the verified input VAT as against the succeeding output VAT liability, as a consequence of its option (BASF Philippines, Inc., vs. Commissioner of Internal Revenue, CTA Case No. 6I75, March 20, 2002). The records will show that by the end of June 30, 2000, the verified input VAT credit ofP8,657,447.74 as ofDecember 31, 1999 was fully utilized, to wit. Period Output VAT Excess Input Remaining Involved VAT Credits ln~ut VAT 1st Qtr. 2000 Liabilit~ 5,327 ,781 .52 2nd Qtr. 2000 8,657,447 .74 3,329 ,666 .22 5,327,781 .52 (73,497 .31) 5,401 ,278 .83 Petitioner's deduction of the amount of P787,206 .07 from the total available input tax as of the fourth quarter of 2002 (Exhibit "T- 1 '') cannot be given credence inasmuch as the said amount had already been applied by petitioner as of June 30, 2000. Hence, the Court cannot authorize the respondent to refund the creditable VAT withheld, as in fact the same had already been utilized by the petitioner based on the forego ing evaluation. Nor can we declare petitioner entitled thereto. All the foregoing considered, and in view of petitioner's failure to substantiate its claim for refund or issuance of tax credit certificate of

C.T.A . CASE NO. 6363 20 DECISION creditable VAT withheld, the Court is left with no recourse but to deny the claim and to dismiss the present Petition. With the conclusion thus reached, the Court finds no need to pass upon the other incidental issues raised in this petition for being moot and academic. WHEREFORE, the instant Petition for Review is hereby DENIED DUE COURSE, and accordingly, DISMISSED for lack of merit. SO ORDERED. ~{J~~~NRIQUEZ Associate Justice WE CONCUR: EA~~tiUcYe ~iO~~~~-s;)_,. v.fUANITO C. CASTANEDA,~. Associate Justice

C.T.A. CASE NO. 6363 21 DEC ISION ATTESTATION I attest that the conclusions in the above Decision were reached in consultation before the cases were assigned to the writer of the opinion of the Court's Division. 0.-~--."foa. ~~ ~ c?".fl.JAmTO C. CASTANEDK,Ciit. Associate Justice Chairman, Second Division CERTIFICATION I hereby certify that the decision was reached after due consultation with the members of the Division of the Court of Tax Appeals in accordance with Section 13 , Article VIII of the Constitution. ~ L .--� u..' n '- -A- \d. a:.-,.....y-- ERNESTO D. ACOSTA Presiding Justice

GORONES DEVELOPMENT CORPORATION ANNEXA INPUTVATDISAU.~ FOR TAX.&BI E YEAR.1111 SUPPLER EXHIBIT REF. NO. AMOUNT INPUT VAT 1ST QUARTER (a) Input VAT supportec! Qnly by Billing Statement. Aa:ount Sc.nm;uy, Debit Memo, Debit Note and Deaively Receipt. ALESNA SEC. & DET AGENCY 12/15197 01-138 6224 4,214.30 p 383.12 ALESNA SEC. & E>ET AGENeY 12/31/97 01-13C 6333 3;566,00 324.18 ARCHANGEL .SECURITY-& tNV 1/15198 01-158 295 7,&f1.00 ARCHANGEL SECURITY & INV 1/15198 01-15C 11,453.30 695.23 ARCHANGEl SECURJ;rt & JNV f/15198 01-150 296 22;619.50 ARCHANGEL SECURITY & �INV 1/15196 D1- 15E 29:7 18,122..40 1,041 .21 GLOBE TELECOM 1212fi/97 01-1198 302 3 ,816.45 2,056.32 PHIL FUJI 2/14'98 01-2.W 10,670Ji5 1,647.49 PIUPINO TELEPHONE 01 -251 10 6,013.90 PLOT 113198 01 -245 162332' 346.95 PLOT 819.00 970.06 PLOT 1118198 01~246 229640 866.90 PLOT 1/18198' 1,711 .60 546.72 AlESNA SEC-& DETAGENCY 1/18198 0 1 .;2 4 7 729555 3,732.60 74.00 1/18198 01 -248 24,826.55 78.81 ARCHANGEL SECU.RITY &lNV 1115.98 Of-563 214481 7,&f1.50 1/Zl/98 01-575 22n41J 11,537.00 155.60 ARCHANGEL SECURITY & INV 1/27/98 01-576 7;647.55 339.33 ARCHANGEt. SECURilY & I~V 2/15.98 01-564 69 11,453.30 2,256.96 ARCHANGEL SECURilY & ;JNV 2115196 01-565 337 15,079.70 ARCHANGEL SECURITY & I.NV 2/15198 01-567 338 18,122..40 695.23 ARCHANGEL �SECURITY & JNV 211'5198 01-566 382 6,864.00 EQUA"TORJAL SEC SERV 01-672 383 6 ,8 6 4.0 0 1,048.82 EQUATORIAL SEC SERV 1113196 01-673 385 525.00 NORKJS DISTRIBUTORS DHIOO 386 802..80 695.23 PLOT 1/2BI98 01-818 9345 802..80 PLOT 01-819 9443 1,041.21 PLOT 219198 01-820 840.75 1,370.88 PlDT 01-821 8960!} 802.75 1,647.49 PLOT 2/181a8 01-822 TOYOTA CEBU 2/18198 01-878 239698 5,404.40 624.00 ARCHANGEL SECURITY & JNV 2/18198 01-815 254693 2,524.15 624.00 ARCHANGEL S,ECURITY & INV 2/18198 01-816 11,285.80 ARCHANGEL SECURITY & INV 1/1.8198 D1-8H 254713 15,833.60 47.74 ARCHANGEL SECURITY& INV 1/8198� 01-818 254796 7,647.55 72.98 ARCHANGEL SECURITY & INV Df-819 229556 11,453.30 72.98 ARCHANGEL SECURITY & JNV 12127198 01--820 12050 18,122..40 76.43 DOMINION iNSURANCE 01-006 18,849.60 72.98 DOMINION INSURANCE 12127/98 01-909 417 22,834.25 491 .31 GLOBE TELECOM 3/15.98 430 26,5fiJ.25 229A7 JARDINE ABOTIZ 3/15198 0 1-1002 to 01-1004 463 9;662.75 1,025.98 JARDINE ABOTIZ 3/15198 21 ,674.30 1,439.42 3115198 01-1019 464 5 3,n o.2 0 3/13198 01 -1920 468 695.23 3I2G'98 471 1,041 .21 variOus 54999 1,647.49 1,713.60 3/1(WB 55368 2 ,0 7 5.8 4 various 2 ,416.6 6 319198 8076 878.43 8070 1,970.39 4,888.20

PLOT 3118198 01 �1131 265475 1,43230 130.21 PLOT 311819S Df- 1132 278688 3,212:10 292.01 PLOT 2/18198 01 -1133 254714 3,976.50 361 .50 TOYOTACEBU 01�1215 12361 2,607.00 237.00 Sullto&al 215198 ~11:.16 p 40,641-.AO (b) Input VAT supported by invoic:esloflicia receipts not in the rane of Gorones Development 1.78 16.68 COrporation 12.55 16.36 BOHOl HARDWARE & ELEC 112!3198 01...0 31164 19.60 p 12.55 CEBU COLU.MBJA�AOTO 1/3198 01'-58 2922D 183.50 75.18 CEBU COLUMQIA AUTO 12/Z//97 01-&l 138.00 12.00 CEBU COLUMBIA AUTO 12127/97 D1a61 29086 179.95 15.46 CEBU COL~IA AtJ;TO 12127/97 Dt-62 29085 138.00 92.25 CEBU COLUMBIA AUTO 1/719/8 D1-63 29084 827.00 15.70 COLOURS FOTO SHOP 1212B/97 D1� 101 29508 132.00 39.52 COLOURSPHO:'fO �EXPRESS 12/18/97 01-100 6982 170.00 16.00 HARDWARE WORKSHOP 12114197 01 -120 1,014.75 HARDWARE WOR!<SHOP 12115197 22291 172.70 69.65 HJ FOTO FAST COlOR 12116/97 D1 ~121 83645 434.70 26.62 JETT CONST & ELEC 12112197 83806 176.00 JYSQUARESUPERMART 12116/97 01 - 187 86215 766.15 22.55 JYSQI;JARE SUP~T 1/6J98 D1 -142 80537 292.80 57.09 MULT.I STORE CORP 12118197 01 �150 90918 248.00 19.45 NATIONAL BOOKSTORE 1/7/98 D1-151 91658 628.00 57.25 NATIONAL BOOKSTORE 12JZ3/97 D1 -227 300701 213.95 175.47 NATIONAL BOOKSTORE 159384 629.75 110.73 SM SUPERMARKET 1171918 D1 ~232 189643 1,930.15 135.68 SM SUPERMARKET 192131 1,218.00 13.64 SM SUPERMARKET 12115197 01 -233 202329 1,49:2.50 77.89 UNITED AUTOMART 1211-5.97 202331 150.00 45.27 CEBU COLUMB!A PHPTO D1-234 205074 856.80 24.75 COLOURS FOTO SHOP 1.698 D1-345 557944 498.00 47.12 115198 27225 39.45 JYSQUARESUPER~RT 01-346 22322 518.30� 75.52 1122198� 91871 433.95 73.14 MJ FOTO FAST COLOR Dt-350 830.70 MJ FOTO FAST COLOR t/31198 D1-+IO 89645 804.55 80.84 MULTI STORE CORP 1/12198 D1-627 889.25 48.93 MULTI STORE CORP 1/24198 D1-648 87386 53825 NATIO~ BOOKSTORE 2111/9/8 310558 46.00 4 .09 NATIONAL BOOKSTORE 1/29198 D1 ~152 307484 106.00 9 .6 4 NATIONAL BOOKS-TOR~ 1122/98 19714 635.00 57.73 NATIONAL 800KS1'0.RE 112!W8 D1-737 197148 1,735.25 157.75 NATIONAL BooKSTORE 1129198 D1 - 7 3 8 197149 238.50 21 .68 NATIO.NAL QQOKSTORE 1r.!9J98 01 �790 197299 1,950.00 177.27 NAllONAL BOOKSToRE t/2!W8 01-191 19725 414.35 37.07 NORTH POINT AIRCON 112!W8 D1-794 198.00 18.00 SM SUPERMA.RKEF 01�795 44 1,-437.90 130.72 SM SUPERMARKET 214198 Of.-796 1, 1 8 1 . 2 0 107.38 SM SUPERMARKET D1 -197 161660 407.45 37.04 SM SUPERMARKET 1/18/998 100615 SM SUPERMARKET D1 ~798 206244 213198 206588 Dt-799 207-456 f /19J98 D1 -793 207683 01-601 112.2JfR. D1'-850a 1600 01-8518 1/29198 ON352a 1/31/96 D1ca53 112!W8 01-854

' SM SUPE~Rl<ET 216198 D1..a56 211316 160.00 14.55 SUS.REUS PHARMACY 214198 01-868 103:.95 9.45 VRMENTRP 2115198 01-965 4412 91 .95 8.36 BOHOL TRADING 3118198 01'-860 3489 230.00 20.91 CEBU POLAR UKTG- 319198 01-892 650.00 59.09 DISOY HARDWARE 01-907 41205 200.00 18.18 LIMSON'S HARDWARE 3118198 98286 248.00 22.55 MULT~ STORE CORP 01 ~1074 310047 120:00 10.91 NATIONAL BOOKSTORE 2123198 10973 577.50 52.50 NATIONAL BOOKSTORE 2110198 01-1116 314529 365.00 33.18 2f0198 203644 331�.00 30.09 SMSUP,~T 21'iSI96 01-1117 204153 94.00 6.55 212JJi/98 01�1116 215002 135.95 12.36 SP.ECWJZEI) BOLT CENTER D-U-75 95604 28,45l.i5 p VRMENTRP 2118198 01 - 1190 3524 2,186~72 Subtotal 2123198 01� 1313 (c) Input VAT with no supporting document PARCAENTRP JAN 89,731 .60 p 6 ,157.43 PHIL SPRING WATER JAN 190.00 17:Zl TOKYU HARDWARE JAN UNITED AUTOMART 7,200.00 654.55 UNITED AUTQJMRT JAN 1,150.00 104.55 WASHINGTON- EE.ECTL 6,600.00 618.18 WASHINGTON ELECTL JAN 30.55 877 t.�)TOR CORP JAN 336.00 61 .82 677 MOTOR CORP 900.00 26.36 677 .MOTOR CORP JAN 290.00 25.45 frr7 MOTOR CORP 260.00 19.09 677 MOTOR CORP FEB 210.00 49.09 877 MOTOR CORP FEB 540.00 11 .82 877 MOTOR CORP FEB 130.00 50.00 677 MOTOR CORP FEB 550.00 26.36 877 MOTOR CORP FEB 290.00 66.18 877 MOTOR CORP FEB 730.00� 34.55 877 MOTOR CORP FEB 360.00 57.27 877 MOTOR CORP FEB 630.00 40.91 877 MOTOR CORP FEB 450.00 26.36 877 MOTOR CORP FEB 290.00 26.36 877 MOTOR CORP FEB 290.00 66.18 677 MOTOR CORP FEB 75El.OO 49.09 877 MOTOR CORP FEB 540.00 49.09 877NQTOR CORP FEB 540.00 26.36 BALAMBAN CONCRETE FEB 290.00 149.09 CEBU ATLAN;r:'I.C fiARDWARE FEB 1,640.00 1,693.18 JOSEPH'S BUJlDj:RS FEB 18,625.00 17.00 JV PRINTING PRESS FEB 187.00 531.82 PJUPINO TI;LEPHONE FEB 5,850.00 810.91 SAN JOSE SUPPLIES FEB 8 ,9 2 0.0 0 662.50 SAN JOSE SIJPPUES FEB 7,287.50� 1,022.73 SAN JOSE StiPPI,lES FEB 11,250.00 34.09 SAN JOSE SUPPLIES FEB 375.00 1227 FEB 135.00 FEB 34.50 3.14 FEB FEB

SAN JOSE SUPPLIES FEB 525.00 47.73 SAN JE>SESUPPUES FEB 575c00 52.ZT SAN JOSE SUPP.UES SAN JOSt: SUPPLIES FEB 22.50 2 .0 5 SAN JOSE SUPPLIES 275.00 25.00 CEBU ATlANTIC HARDWARE FEB CEBU ATLANTIC HARDWARE FEB 25.00 2.ZT CESU ATLANTIC HARDWARE MAR 249.00 CEBU ATLANTIC HARDWARE MAR 226.00 43.19 EVERCAREPHARMACY MAR 584.00 20.55 EVERCAREPHARUACY 692.00 53.09 EVERCARE PHAANACY MAR 62.91 EVERCARE PHARMACY MAR 88.90 EVERCAREPHARMACY MAR 259.00 8.08 FFCRUZ& �CO MAR Z17.15 23.55 MONARK EQUIPMENT CORP MAR 1,210.45 25.25 NATIONAL BOOKSTORt: MAR 341 .55 110.04 NATIONAL BOOKSTORE MAR 5,500.00 31 .05 PLOT 27,f!�7.40 500.00 PLOT MAR 174.90 2,533.40 PLOT MAR 15.90 PLOT 43.65 RAINBOW COMML MAR 3.97 RK CUSTODIO E.NTRP MAR 1,069.50 97.23 SELLCHEM CORP MAR 913.30 83.03 SEUCHEM CORP MAR 913.30 83.03 SM SUPERMARKET 995.15 90.47 UNITED AUrOMART MAR 909.09 WIRTGEN P.HILS MAR 10,000.00 10.00 SUbtotal 110.00 889.77 MAR 665.79 9,787.50 14.49 MAR 7 ,3 2 3 . 7 4 10.91 MAR 1�,779.44 MAR 159.40 23,449.15 MAR 120.00 MAR 19,573.84 217.1K.I3 p (d) Input VAT with noV.nN. liNN 01 BR Permit AMAN ENTERPRISES 1{1198 D1 a1 5 7~ 2,520.00 p 229.09 BRILLIANCE TRUCKING 317198 D1-40C 52,368.00 4,760.73 CEBU GRAND PRIX 10/22197 D1-72 80 CEBU GRAND PRIX 12131J/97 2021 1,395.00 126.81 CESUVIS-MINUKTG 1'/20198 D1 ~73B 2209 5,650.00 513.63 CEBU VI~N MKTG 112DSJ 64872 1,500.00 136.36 EF SALAZAR CONS 1'2J22197 01-95 64873 EF SALAZAR CONS 116198 01-96 97125 100.00 9.09 EF SALAZAR CONS Hfil98 97126 28,400.00 2,581 .82 EF SALAZAR CONS 1/9196 D1 ~103C 971ZT 39,600.00 3,600.00 ESA MKTG CORP 1/16198 97128 29,600.00 2,690.91 ESA MKTG CORP 1/2IW8 Dt- 1030 5113 39,136.00 3,557.82 FORTUNE PRINTING PRESS 1{1/98 5117 69,0!Xl00 6,272.73 FORTUNE PRIN-TING�PRESS 1/12/98 D1-103E 329 10,500.00 HI-5ET TRADING 12/ZW7 D1 &103F 335 954.55 HJ=.SET TRADING 12123197 D1 -105C 872 540.00 KINWA RETREADING 1112198 D1-106 871 2,850.00 49.09 KINWA RETREADING 1/17198 290,000.00 259.09 01 ~111 66 2,900.00 26,363.64 frT 24,<468.75 263.64 01-112 22,837.50 224.43 01-125 2,076.14 01 ~126 01 -154 D1-155

KJNWA RETREADING 1/2-4198 01 ~156 68- 16,31250 1,o48295 KINWA RElREADING -1124198 79 11,418'.75 1,038.07 I<INWA RETREADING 1f0Sl 0 1- 257 72 35,843.25 3,258.48 KINWA RETREADING 113G'98 01-156 73 18,588.75 1 ,689.89 .KJNWA .RETREADING 1/3lJ/98 OH59 74 15,326..25 1,393.30 SELlC.HEM CORP 1f1Sl ll1- t60 7915 14,972.50 1,361 .14 SELlCHEM CORP 1{1198 01-342 7914 7 ,486..25 CATAGBACAN�ARRAST>RE 2117198 01-343 16819 680.57 CATAGBACAN ARRASTRE 2111198 01-618 16824 25&30 23.30 CATAGBACANARRASTRE 2117198 01-619 16825 1,030.90 93.72 EF SALAZAR CONS 0Ni20 97129 46.60 EF SALAZAR CONS f/2Jj/98 01-660 97130 51260 3,594.18 lLYN INDUSTRIES ~f1B/98 01-661 561 39,536.00 2,563.64 SELLCHEM CORP 01-696 7885 28,200.00 98.18 TOLEXENTRP 3113198 01-846a 1997 ZT2.23 BRILLIANCE TRUCKING 2113198 01-an 1,080.00 440.27 BRI~CE- T-RUCKING 2l5la8 01<861 n Z994.50 6 ,482.75 BRILLIANCE TRUCKING 4l3r'98 01-862 4,843.00 2,953.50 413.198 01-863 78 71,309.75 9 ,08525 FLUTOENG~ G 4124196 01-991 83 32,488.50 2,422.18 3121/98 Ot-992 1682 99,937.75 1,159.08 FORTUNE PRINTING PRESS 3128198- 01 -1042 728 26,644.00 1,431 .82 KJMWA RETREADING 3113196 01 a1,119 83 12,750.00 25.45 NBNJETAPEARRASTRE 31-4196- 0 1 - 1161 2205 15,750.00 109.09 PROGRESSIVE AU'TOMART 315198 01-1214 25330 174.55 TONYEQPT 3128198 124323 280.00 81,649.76 Subtotal 01s11QC 1,200.00 1130198 01 -1190 172 1,920.00 (e) Non-VAT lnvoic:esiRecei 2/24198 01-507 668 1,884,848.80 p 1/14196 01-826 104405 FOR CONSTRUCTION 21281'98 01 -10048 116893 42,069.50 p 3 ,8 2 4.5 0 GOLDEN GATE REALT'i 2124198 668 5 ,461 . 6 6 WG&AINC 60,078..25 ASTRON GESTQS 16595 3 ,6 8 4.8 0 334.98 GOLDEN GATE REAlTY 16615 7.00 Stllbtotal 31342 n.oo 31540 5,461 .66 175 60,078..25 11,088.10 195 111,.117.10 p 196 (I) Input VAT on ales of seiVices not suppolfed by o11icii11 receipt 197 1961 ABOITIZ & CO. 1/2198 01-.4 8669 86,189.40 p 7 ,8 3 5.4 0 ABOITIZ & CO. 1121J198 01-5 126 165,000.00 15,000.00 ABOTIZ AIR TRANSPORT 1/2198 01-68 54723 ABOTIZ AIR TRANSPORT 115198 01-6C 1059 203.50 18.50 CEB INOL PARK 119/98� 01-738 685.10 6229 JCL JR CONSTRUCTION 1/15198 01-137 1,528.90 138.99 JCL JR CONSTRUCTION 1/19r'98 01-138 37,531 .90 3,411 .99 JCL JR CONS:rRUCTION 1/31198 01--139 31 ,686.25 2,880.57 JONAN TRADING 116/98 01 -143 133,439.90 12,130.90 LENTONMKTG 1/13198 015 180 11 ,700.00 1,063.64 METAPHIL INC 112B/98 D t -2f)8 450.00 40.91 NISSAN CEBU DISTRIBUTORS 1/17/98 0 1 -2 3 8 750.00 68.18 PEARL ENTERPRISES 119/98 40,675.00 3 ,6 9 7.7 2 01 ~244 832;659.30 75,696.30

RARE CRAFT IND 1/19198 01-31�7 6 138,9m.OO 12,627.55 RARE CRAFT lND 1'/ffWB D1-318 11 ,171'.30 1,015.57 UNDALOC CONSTR.UCTION various 7 VIRGINIA INTl PRODUCTS. 112198� 01-405 to 01-427 various 2,564,576.60 233,143.33 VIRGINIA INTL PRODUCTS 112B/98 36,900.00 3,354.55 877 MOTOR CORP 6/19197 01-505 37255 14,550.00 1,322.73 877 MOTOR CORP 8/19/97 Dt-506 37328 525.00 47.72 8/11/97 01-542 10292 1,360.00 123.63 871 MOTOR CORP D1-543 10670 700.00 63.63 6123197 01-544 Hl813 830.00 75.45 877 MOTOR �CORP 01-'545 10361 525.00 47.73 877 MOT OR CORP 7/11/!TI 01-546 10430 1,405.00 127.73 877 MO'fOR CORP 6/14197 01-547 10249 ASTRAL CONS 1131198 01-568 135,956.15 12,359.65 BALAMBAN CONCRETE 1f215198 01-591 675 15,627.00 1,420.64 CEBUINDL 01-636 1,077.80 97.98 'FOR CONS"fflUCTION 214198 01-675 21�40 FIRST CHOICE BROKERAGE 01-678� 185 158,146.55 14,376.96 JCL JR CONS"FRUCTION' 2J2Jj/98 01-703 2 9,344.00 849.45 JCLJR CONSTRUCTION 01-716 8-11.7 JCL JR CONSTRUCTION 1/31/96 01-717 198 52,415,65 4,765.06 JCL JR CONSTRUCTION' 01-718 199 64,177.40 5,834.31 JCLJR CONSTRUCTION 215198 01 -719 200 52,444.00 4,767.64 JCLJR CONSTRUCTION 01 -715 201 17,899.10 1,627.19 JONAI\t TRADING 2/13198 01-705 202 JONAH TRADJNG 01-706 203 2,359.40 214.49 JONAN TRADING 2120193 01-707 1966 32,938.40 2,994.40 JONAN TRADING 2J2BI98 01-714 1971 64,398.00 5,854.36 METAPHIL tNC 2128198 01-170 1977 54,852..00 4,986.55 PEARL ENTERPRISES 2J2BI98 01-8-U 1979 2,454.55 RARE CRAFT IND D1-844 136 2,700.00 4,009.09 UBIXCORP 1/1Q/98 D1-883 1065 44,100:00 UNDALOC CONSTRUCTION 1130198 68.18 VIRGINIA lNTl PRODUCTS 2/10198 01-844 to 01-916 9 750.00 67,263.30 ABGI11Z & �CO. 65074 739;896.30 ABOITIZ & CO. 2112198 01-964 vcv:ious 9,111 .87 ABOITIZ & CO. 2126198 01-979 37355 100~.55 603.59 ABOITIZ& �CO. 219196 01-98(l 16704 ABOITIZ & CO.. 212198 01-981 16744 6,639.50 222,656.39 ABOITIZAIR TRANSPORT 01-982 16722 2,449,220.20 1,095.45 ABGITIZ AJR TRANSPORT 1131198 01-983 16837 775.00 ABOfTIZ AIR TRANS!?ORT variOus 01-784 16624 12,05(l00 150.00 ABOIT!lAIR rRANSPE>RT 219198 01-785 34366 8,525.00 7,835.40 ABOITJZAIR TRANSPORT 01 -786 34878 1,650.00 1,725.00 ALESNA SEC & DET 2128198 01-787 86,189.40 ALESNA SEC & DET 3121198 01-788 35101 18,975..00 15,000.00 ALESNA SEC & DET 212198 Dt-8028 165,000.00 11 .50 ALESNA. SEC & DET 3131198 01-803 35120 24.00 ALESNA SEC & DET 2120198 01-804 35169 126,50� 22.47 ALESNA SEC & DET 2123198 01-805 264.00 ALESNA SEC & OET 316198 01-806 68 247.15 163.02 ALESNA SEC & DET 3110196 01-807 70 1,79320� 131 .46 ALESNA SEC & DET 3111198 01-8e8 237 1,446.05 75232 3112198 01-809 238 8,275.50 408.06 01-810 .236 4,488.65 752.32 1/15198 359 8,275.50 41259 1/15198 479 4 ,5 3 8.5 0 2,256.96 212198 325 24,826.55 353.65 471 3 ,8 9 0.1 5 353.65 212198 3,890.15 752.32 8,275.50 752.32 212198 8,275.50 2120198 2J2BI98 2J2fJI98 2I2BI98

ASTRAL CONS 2J28I98. 01-823 684 83,625.40 7 ,6 0 2.31 CEBUINDl 216198 01-886 198 949.75 86.34 GRAND POWER BUILDER 3121198 01-1005 310 JCL JR CONSTRUCTION various 01-1021 to01 -1027 various 58,273.00 5,297.60 LENT-ON MKFG 3117/98 01-1072 10729 346,008.90 31,455.36 PEARL ENTERPRISES 3118198 01-1130 1067 RARE CRAFT IND 3119198 Ot.-1165 10 850:00 77.27 UNDALOC CONSTRUC"FFON variOus 0 1 - 1 2 3 6 t o D 1-1 2 6 8 variOus 716,378.30 65,125.30 SUIItoCal 178,264.25 16,205.84 Total 2,344,223.80 213,111.26 12,211.81Ui p 1.112.111A3 14.200.788.31 p 1.211.215.28 2ND QUARTER (a) Input VAT supported only ~y Billng Statement. Aa:ounl SUIIWilllfY. Debit Memo. Debit Note-and Delivery Rec;eip. ALESNA SEC. & DET AGENCY. 212�)198 02-28 358 25,189.25 p 2,289.93 ALESNA SEC. & DETAGENCY 02'-29 469 24,826.55 2,256.96 ALESNA SEC. & DETAGENCY 2J2BI98 635 ALESNA SEC. & OET AGENCY 3120196 02~ 721 3 ,8 9 0.1 5 353.65 ALESNA SEC. & DETAGENCY 3130J98. 634 4 ,5 3 8.5 0 412.59 ALESNA SEC. & 'DET AGENCY 02'-31 705 24,826.55 2,256.96 ALESNA SEC. & DET AGENCY 3I2G'98 02-32 719 8,275.50 752.32 ALESNA SEC. & DE'J AGENCY 3130198 02-33 72D 24,826.55 2,256.96 ARCHANGEL .SECURI'fY & lNV 3130198 02-34 509 8 ,2 7 5.5 0 752.32 ARCHANGEL SECURITY & INV 3I30J98 02-35 519 18,521 .35 1,383.76 ARCHANGEL S~CURITY & JNV 3130198 02-39 507 20,106.25 1,827.84 ARCHANGEL SECURITY & lNV 3131198� 02'-40 523 7 ,6 4 7.4 0 695.22 ARCHANGEl SECURITY & INV 3130198 02-41 565 11 ,309.75 1,028.16 ARCHANGEL SECURllY & INV 3131198 02-42 566 7,647.50 695.23 ARCHANGEL SECURITY & JNV 4115196 02-43 11 ,4 5 3.3 0 1,041.21 ARCHANGEL ~ECURITY & JNV 4115198 02-44 f�1 18,849.00 1,713.60 ASTRAL CONS. & DEV CORP 4115196 02-45 18,122.40 1,647.49 ASTRAL CO~. & DEV,CORP 4115198 02-46 568 96,460.00 8 ,7 6 9.0 9 GLOBE TELECOM 3131198 02'-48 694 25,294.50 2,299.50 GLOBE TElECOM 3131198 02-49 692 2,472.70 224.79 GlOBE TELECOM 3126198 02-158 13 1,960.50 178.23 JARDINE ABOTIZ 4126196 02-159 14 2,507.80 227.98 METAPHJL INC 4112.198 02-100 14 33,457.15 3,041 .56 PHIL FUJI 319198 02-1.79 8069 68.18 PHIL FUJI 3131198 02-250 145 750.00 658.46 PLOT 31131'98 02-290 188664 7,243..05 661 .29 PlOT 4113198 02-291 190279 7,274.20 99.76 PLOT 4118198 02-212 291977 1,007.35 91 .99 PLO'f 4118196 02-273 326961 1,011 .90 91 .99 PLOT 4118198 02-274 306961 1,011 .90 91 .99 PLOT 4118198 02-275 807(;)66 1,011 .9 0 184.55 PLOT 3118196 02-276 2,030.00 127.84 PLOT 4118198 02"271 .280505 1,406.25 197.59 SMART COMMUNICATIONS 4118198 02-278 306982 2,173.50 233.89 4118198 02-279 291957 2,572.80 131 .85 3115198 02-345 305166 1,450.35 131425

SMART COM_�UNICATIONS 4115198 02-346 131439 647.90 58.90 TOYOTA CEBO 3110198 02-372 12696 1,353.75 123.07 4IZW8 02-521 866 4,214.30 383.12 ALESNA SEC &l)ET A~ENCY 5118198 02-522 1t39 4,214.30 383.12 4115198 02-523 835 24,826.55 2,256.96 ALESNA SEC & OET AGENCY 5118198 D2-S24 1137 24,826.55 2,256.96 ALESNA SEC & DETAGENCY 4123196 0:2--525 865 8,275.50 75232 ALESNA SEC & QETAGENCY 5118/98 02-526 1138 8,275.50 752.32 ALESNA SEC & OET AGENCY 41301'96 02-530 618 18,849.60 1,713.60 ALESNA SEC &DET AGENCY 4IJ()I98 02-531 619 18,122.40 1,647.49 4l3l!ll98 02-532 616 7,647.55 695.23 ARC~GEI- SEcu.RITY & U\IV 4130198 617 11,309.75 1 ,0 2 8.1 6 5115198 02~ 667 18,849.60 1,713.60 ARCHANGEL SECURITY & INV 5115198 668 18,122.50 1,647.50 ARCHANGEl SECURJlY&.!NV 51t3198 0:2-034 656 7,647.55 69523 ARCHANGEL SECURITY & INV 5113198 02-535 657 11,309.75 1,028.16 ARCHANGEl SECURITY & INV 2J2BI98 02-536 8786 6,864.00 624.00 ARCHANGEl SECURiTY& INV 3131198 02-537 8789 6 ,8 6 4.0 0 624.00 ARCHANGEL SECURITY & 1NV 5112198 02--638 2,433.75 221 .25 ARCHANGEL SECURITY & INV 412S/98' 15 3,980.90 361 .90 EQUATORIM. SEC SERV 412.4198 02~ 14 243,031.25 22,093.75 'EQUATORIAL SEC SERV 517198 9G43 5 ,9 9 4.2 5 544.93 GlOBE TELECOM 5118198 02-694 190957 90.79 GlOBE TELECOM 5118196 02'-695 31'8898 998.70 84.69 JARDINE ABOTJZ 5118198 02-718 333769 931 .60 83.09 PHIL FUJI 5118198 02-844 333789 914.00� 141.77 PlDif 5118198 02-832 33379(l 1,559.45 80.39 PLOT 5118198 02-833 333870 884.30 227.64 PLOT 5118198 02-834 318878 2,504.00 244.91 PlDif '5128/98 02-835 331975 2,694.00 2,256.96 PLOT 5128198 02-836 1305 24,826.55 752.32 PLOT 6115198 02-837 1307 8,275.50 753.32 PLOT 6/15198 02-838 1515 8,275.50 2,256.96 ALESNA SEC. &GET A~Y 5131./98 02-1109 1516 24,826.55 695.23 ALESNA.SEC. &DEl' AG~NCV 5131/98 02"1110 714 7 ,6 4 7.5 0 1,096.70 ALESNA SEC. ~ DET AG~CY 5131198 02:..ft11 715 12,063]0 1,827.84 5131.198 0 2- 1 1 1 2 716 20,106.25 1,683.76 ALESNA SEC. &DET AGENCY 6115198 02-1.118 717 18,521 .35 695.23 ARCHANGEL SECURITY & INV 6115198 02-1119 769 7,647.55 1,028.16 ARCHANGEL SECURITY &JNV 6115198 02-1120 710 11 ,309.75 1,647.49 ARCHANGELSECURITY &1NV 02-1121 771 18,122.40 1,713.60 611~ 02-1122 772 18;849.60 8,954.20 ARCHANGEL SECURI"TY & INV 02-1123 715 98,496.20 523,809.81 ARCHANGEL SECl!RIT� & JNV 5131198 02-1124 JV 5,761,907.90� 163.25 ARCHANGEL SE;GJ.iiRITV a :tNV 6130198 02'-1125 f5 1,795.75 1,334.13 5126(98 02-1126 8598 14,675.45 9,344.67 ARCHANGEL SECURITY & INV 5128198 02-1272-B various 102,791 .35 3,896.61 ARCHANGEl S,ECURFfY &!NV various 02-1283 various 42;862.70 657.56 various 02-12948 199031 7,233.15 807.27 ASl'RAL CONS. & DEV CORP �619198 02-1294C various 8,879.95 17.27 FFCRUZ&CO various 0 2- 1 2 9 4 0 96679 190.00 115.93 GLOBE TELECOM 412198 02-1396 14877027 1,275.25 JARDINE ABOillZ 5115198 02"1385 to 02-1,391� JARDINE ABOITIZ OZ-1'409 JARDINE A B OI \ fi Z 02-1465 PHIL FUJI PLOT POWER AOTO�PARTS SMART COMMUNICATIONS

SUIJtotal 7,118,219-.10 p 646,111.86 (b) Input VAT supported by invoiceslollicial receipts not in the....,. of Gorones Development 53.03 10.00 Corporation 68.18 18.86 ALMARIO SHELL 3126198 02-38 19390 583..32 p 75.00 CEBU POlAR MKTG 3124198 02-98 99576 110.00 13.65 CEBU POLAR MKTG 3121.198 02-99 9935.1 750.00 2 15 HJ FOTO FA~T COLO~ 3129198 02-238 86343 207.45 10.91 RICOMAR GENMOS.E 4/13/98 02-327 12729 825.00 7,490.91 ALESNA SEC & DET AGENCY 5125198 02-520 8434 150.15 4,483.64 CORVIC CALTEX SERV 519198 02-621 225915 23.65 12,228.33 CRutSER CYCLE CENTER 518198 02-622 14178 120.00 KENNENTRP 6/15198 02-1301 82;.400.00 38,23200 KENNENTRP 613198 02-1302 13 49,320.00 4,968.73 Subtotal 14 1S4,488.67 p 175.00 {c) Input VAT wilh no~ document 20,355.74 13.60 B BENEDICTO & SONS APR 420,55200 p 272J KENNENTRP� APR 54,656.00 4248 LUVIUIN PORT SERV APR 40.42 MONARK EQUIPMENT CORP APR 1,925.00 PlAZA MARCELA APR 223,913.10 12273 ALMARIO SHELL SERVICE UAY 818.18 ALMARIO SHELL SERVICE MAY 149,60 Al.MARIO SHEll SERVJCE MAY 300.00 18.54 MAY 467.31 31 .64 BES PACIF1C HARDWARE MAY 444.58 38.55 MAY 1,350.00 19.55 BES�PACIFIC HARDWA~E MAY 9,000.00 22.27 GRAND�PENGAVITOR TRADE MAY 204.00 10.00 KB TOL�00 ENTRP MAY 348.00 1,022.73 KB TOLEDO ENTRP MAY 424.00 450.00 K8 TOLEDO EHTRP MAY 215.00� 87.27 KB TOlEDO ENTRP MAY 245.00 2;100.00 KB TOLEDO ENTRP MAY 110.00 236.36 KIMWA RETR~ING MAY 11,250.00 94.76 KIMINA RElREADING MAY 4,950.00 227.27 NIC'S PARTS SUPPLV MAY 960.00 43.18 PRIMEX TRAJ!)E SALE~ MAY 23,100.00 250.91 QUAUTY AlJJO PARTS JUN 2,600.00 563.64 UNO.AlOC CONSTRUCTION JUN 1,04235 1,226.82 A & D�ELECTRQNJCS JUN 2,500.00 49.09 BENEDICT SAFETY 'SHOES JUN' 475.00 418.44 BES PACIFIC HARDWARE JUN 2,760.00 399.30 BES PACIFIC HARDWARE JUN 6,200.00 40.00 CEBU GRAND PRIX JUN 13,495.00 180.20 EVERCAREPHARMACY JUN 540.00 GLOBE TELECOM JUN 4,602.85 GLOBE TELECOM JUN 4,392.30 LUVIMIN PORT SERV 440.00 MONARKEQUIPMENT CORP 1,982.20

PIUPINAS SHEU JUN 1,450.00 131 .82 TAUBON ROPHIL ENTRP JUN 47.13 Subtotal 525.00� 72,108.22 11'1,.181.21 p (d) Input VAT wilh noV, TIN, 11fW or BIR Permit BRILLIANCE TRUCKING 514198 02-75 66 357,062.85 p 32,460.26 BRIUIANCE TRUCKING 5113198 02-76 80 7,004.25 636.75 CATAGBACAN ARRASTRE 4115198 02-34 17248 256.30 23.30 CEBU GRAND PRIX CAR 4/14198 02-94 2436 13,495.00 KIMWA RETREADING 412198 D2-198 86 1,226.82 KIMINA RETREADI~G 418198 0 2- 1 9 9 89 15,750.00 1,431 .82 KIMWA RETREADING 4126198 02-200 90 17,500.00 1,590.91 RICOMAR GEN MDSE 4/23J98' 02-328 14296 21 ,450.00 1,950.00 STAPLES COMPUTER 412198 02-352 2429 THE STAG CLOTHES 3130198 02-259 1,350.00 122.73 THE STAG ClOTHES 3130198 02-30 124350 820.00 74.55 TONVEQPT 4115196 2599 112.73 4A'S OEVT CORP 02-368 16738 1,240.00 56.36 DANIEL MERCHANDISING 5125198 62(1 0 0 61 .82 EF SAlAZAR CONS 02-4978 96-501 680.00 681 .82 ESA MKTG CORP 5113198 5169 12.05 GENTRADE 5fZ/198 02~ 444 7,500.00 2,406.36 KIMWA RETREADING 5118196 93 132.50 5,670.91 KIMWA RETREADING 5125'98 02-632 92 409.09 NEW JETAPEARRASTRE 02-640 37 26;470.00 1,663.60 NEW JETAPE ARRASTRE 51&'98 02-689 905 62,380.00 699.30 NEW JETAPE ARRASTRE 02-733 906 27.27 RLM&CO 5l6t'98 02-734 3426 4,500:00� 363.64 4A'S OEVT CORP 4/1/98 02-8188 2626 18,300.00 5,106.91 A & 0 ELECTRONICS 4123196 02-819 2646 276.36 EFSALAZAR CONS 517/98 02-820' 97132 7,692.30 154.54 EF SALAZAR CONS 517/98' 02-886 98502 300:00 68.18 KIMWARETREAOING 6/17/98 02-1089 97 222.73 KIMWA RETREADJNG 8115197 02-1128 99 4,000.00 1,129.09 LUVIMIN PORT S.ERV 213198 02-1222 56,176.00 1,063.64 MOUNTAIN. LINK 6/tOJ98 0 2- 1223 28543 409.09 RICONAR GEN�MDSE 612198 0 2- 1303 3774 3,040.00 30.00 TEXTRON CORP 6121/98 02-1304 14497 1,700.00 36,272.73 TEXTRON CORP 411/98 02-1337 32 127.27 TONYEQPT 6/11/98 D-1376 33 750.00 227.27 TONYEQPT 6/19196 02-1449 122579 2,450.00 345.45 WASHINGTON ELECTRICAL 6/H/98 0 2- 1<482 122580 12,420.00 338.18 WASHINGTON: ELECTRICAL 6/18198 02-1483 20505 11 ,700.00 178.95 WASHINGTON ELECTRICAL 6/15196 02'-1505 2fl506 4,501l00� 202.48 Subtotal 6115198 0 2- 1506 20536 57.27 61:2198 02-1639 330.00 31.09 612198 02'-1641 399,000.00 87,823.32 613.198 02-1640 1,400:00 02-50 2,500.00 D 2- 1'6 t 3,800.00 3,720J)0 1,968.50 2,227.30 63(t00 342.00 1,077,117.00 p (e) Non-VAT~ ASTRON GESTOS 2/13198 11�5851 444.47 p 40.41 GOLDEN GATE REALTY 613198 697 60,078.25 5,461 .66

GOlDEN GATE REALTY 613198 02-eQS 699 60,078.25 5,461.66 JASPER MIMEO & BUSINESS 02'-719 7035 3,2ro.OO 290.91 AI.JMRIO S"Ell SERVICE 5t'9l98 02-1114 31774 563.23 51.20 GOLDEN GATE REALTY 02-1284 700 GOLDEN GATEREAllY 5130198 02-1.285 725 60,078.25 5,461.66 MEL&JMKTG 6123198 02-1349 485 60;078.25 5,461 .66 Subtotal 8119198 613198 16825 120.00 10.91 16756 244,840.70 p 22,240.07 16856 (f) q,ut VAT on sales of services not supported by ollicial receipt 16910 16936 ABOITIZ& CO 4130198 02-5� 16952 5,940.00 p 540.00 ABOJTIZ& CO 312198 02-6 311 86,189.40 7,835.40 ABOITIZ&CO 3131/98 02-7 312 ABOJTIZ&CO 411./98 02-8 211 357.50 32.50 ABOJTIZ&CO 4I20t'98' 02-9 212 4,125.00 375.00 ABOITIZ&CO 4130196 02-10 213 165,000:00 15,000.00 GRANO POWER BUILDER 412/98 02-163 1074 9,625.00 875.00 GRAND POWER 8tJJlDER 4120198 0 2- 1 6 4 56,392.95 5,126.63 JCL JR �CONSTRUCTJON 4116'98 02-181 11 99;330.00 9;030.00 JCL JR CONSTRUCTION 411&'98 02-182 65263 86,01295 7,819.36 JCL JR CONSTRUCTION 4123198 02-431 17,435.00 1,585.00 PEARL ENTERPRISES 4l23l98 02~183 16870 111�,303.50 10,118.50 RARE CRAFT INO 4118198 16763 919,673.70 83,606.70 UBIXCORP 3131'/98 02-271 36732 340,370.80 30,94280 UNOALOC CONSTRUCTION various 02-326 37430 4 ,3 9 5.5 0 399.41 ABOITIZ&CO 3120196 02-401 37720 2,553,929.70 230,357.25 ABOITIZ&CO 411198 02-402 37752 165,000.00 15,000.00 ABOITIZ A1R TRANSPORT 419198 02-499 37886 86,189.40� 7,835.40 ABOITIZ AIR TRANSPORT 4122198 02-500 38272 19.50 ABO.TIZ AIR TSANSPORT 4127198 02-501 28359 214.50 28.00 ABOIT2AJR TRANSPORT 4I29J98 02-502 38703 308.00 17.25 ABOITIZ AIR TRANSPORT 514198 02-503 39122 189]5 239.10 ABOITJZAIR TRANSPORT 517198 02-504 39342 2,630.10 18.50 ABOITlZ A1R TRANSPORT 518198 02-505 702 203.50 17.46 ABOJTIZ AIR TRANSPORT 5115196 02-500 205 192.05 ABOJTIZ AIR TRANSPORT 5122198 02-507 271 77.00 7.00 ABOITIZAIR TRANSPORT 5123198 02-508 315 115.50 10.50 ASTRAL CONS 4I30t98 02-509� 214 192.50 17.50 CEBU INOL PARK 313tl98 02-S10 215 248.25 22.57 CEBU INDL PARK 511198 02-538 216 98,133.30 8,921 .21 GRAND POWER BUILO.ER 5113198 02-580 2656 913.10 83.01 JCL JR CONSTRUCTION' 5112198 02-581 2658 756.45 68.77 JCL JR CONSTRUCTION 5116'98 02-701 149 92,708.00 8 ,4 2 8.0 0 JCL JR CONSTRUCTIOI'I 5121/98 02-720 526 51,475:80 4,679.62 JONAN TRADING� 517198 02-721 528 77,940.94 7 ,7 9 4.0 0 JONAH TRADING 5119198 02-722 various 29,746.00 2,704.18 METAPHIL INC. 4I29J98 02-724 17080 29,25{t00 2,659.00 METAPHIL INC. 4130198 02-725 50,430.00 4,584.55 METAPHIL INC. 4130198 02-773 750.00 68.18 UNOALOC CONSTRUCTION various 02-774 9,600.00 87273 ABOITIZ&CO JUN 02-775 330.00 30.00 2,r:gj,787.37 190,526.08 02-958 to 02-966 1,375.00 125.00 02-1094

ABOJTIZ&CO 512198 D2-1095 16932 86,189.40 7,835.40 ABOITIZ & CO� 51201998' 02-1006 16942 165,000.00 15,000.00 ABGITIZ&CO D2-1097 17155 CEBU INDL PARK 611198 Q2, 1183 230 4,125.00 375.00 CEBU JNDl PARK 5131./98 0 2- 1184 247 378.00 34.37 GRAND POWER BUilDER 6129198 02-1286 316 152.45 13.86 GRAND POWER BUILDER 4128198 D2-1287 317 .JCL JR CONSTRVCTJON' 5129198 D2-1294E 217 46,354.00 4 ,214.0 0 JCL JR CONSTRUCTION 6118198 02-1294F 218 52,976.00 4,816.00 METAPHILINC 613198 D2-1351 543 67,941 .70 6,176.52 METAPHIL JNC 5131198 02-1352 544 115,620.10 10,510.92 PEARL ENTERPRISES 5131198 02-1383 1080 PEARL ENTERPRISES 5129196 02-1384 1064 700.00 63.64 RARE CRAFT IND� 616198 0 2- 1447 4,800.00 436.36 RARE CRAFT IND 6119198 02-1448 14 1,313,357.10 119,396.10 UBIXCORP 6l26I9B D2-1534 16 913,418.00 83,038.00 UNDALOC CONSTRUCTION� 5131198 65474 222,062.15 20,187.47 SUbtotal variOus 02�1535 to 02- 1564 various 188,892.55 17,172.05 2,370.95 215.54 1,788,408.26 162,582.57 1,110.488.64 12.227.US.17 p 23.68 (g) Input VAT supported by invoicesloftiic niCeipts not formally offered (No exhibit numbels) 25,284.55 23,243.64 NATIONAL BOOKSTORE 4118198 15471 260.50 p 48,551.87 ROCKLAND CORP 6115198 1632 ROCKLAND CORP 6115198 1632 278,130.00 114,900.09 Subtotal 255,680.00 57,454.55 534,171.60 p 17,41.4.54 2,061.,202.84 (h) Ovelstated input VAT DAVAO UNION MKTG 6119J98 02-1217 13120719 1,264,000.00 p Subtotal Shld. be amount 632,000.00 Total 832,111.00 p 22,765,728.33 p 3niQUARTER (a) Input VAT supported only by Biling statement, Account SWnmiuy, Debit Memo, Debit Note and DeliVery Receipt. ALESNA SEC. & DET AGENCY 512811998 DJ-43 1306 3,566.00 p 324.18 ALESNA SEC. & OETAGENCY 03-44 1783 383.12 716/1998 03-45 1715 4,214.30 752.32 .uESNA SEC. &DET AGENCY 7/111998 DJ-46 1810 8,275.50 752.32 7/6/1998 03-47 1691' 8,275.50 2,256.96 ALESNA SEC. & DEl' AGENCY 61261f 9 9 8 03-48 1809 2,256.96 ALESNA SEC. & f.lET AGENCY 7.611998 03-198 9788 24,826~55 624.00 ALESNA SEC. & DET AGENCY 03-249� 16 173.75 EQUATORIAl SEC SERV 413011-998 03-250 13 24,826.55 292.00 GLOBE TELECOM 612611998 03-251 16 6,864.00 457.37 GLOBE T�1.�COM 3126/1998 03-252 17 1,911.25 302.31 GLOBE TELECOM 6126/1998 03-265 various 3,212.00 8,482.49 GLOBE TElECOM 5,031 .10 JARDINE ABOITIZ 7/12/1'998 3,325.40� 7/2D/1998 93,307.410

PHIL FUJI 711411998 00-391 199854 10,789.55 980.87 PHIL GEOANALYFJCS 61311998 03-392' 576 2,112.00� 192.00 PHIL WIRELESS ~NC 7/311998 1947 6,226_00 566.00 PILIPINO TELEPHONE 61311998 ()3.394 12,529.55 1,139.05 PLOT 7/1811998 388387 89.15 PI.DT 711811998 [)3;..402 388407 980.65 82.05 PLOT 7/1811998 388492 902.55 82.05 PLOT" 711811998 D3'372' 373UT 902.55 96.05 PLDT 711811998 03-373 386596 1,056.44 237.45 PLOT 711811998 1)3.374 2,611 .95 391 .43 PLOT" 711811998 03-375 673457 4,305.75 101 .55 PLDT 711811998 416219 1,117.05 87.76 ALESNA SEC. & DET AGENCY. 8112/1998 03-3758 965.35 376.32 ARCHANGElSECURtTY & INV 7/31/1;998 2142 4 ,1 3 9.5 0 695.23 ARCHANGEL SECURITY & INV 713111998 00-376 931 7 ,6 4 7.5 0 1,827.84 ARCHANGEL SECURITY & INV 7/31/1998 03-377 933 20,106.25 1,683.76 ARCHANGEl;. SECURITY & JNV 6/Z711998 [)3..378 934 18,521 .35 Z72.73 ARCHANGEL SECPRITY & !INV 711311998 03-759 809 3 ,0 0 0.0 0 409.09 ARCHANGEL SECURITY & INV 7/3111998 03-763 865 4 ,500.1)0 300.00 ARCHANGEL SECURITY & JNV 811311998 03-764 929 3 ,3 0 0.0 0 695.23 AACHANGEL SECURITY & UW 811511996 03-765 973 7,647.55 1,713.60 ARCHANGEL SECURITY. & INV 811511998 03-766 982 18,849.60 1,651 .30 GLOBE TELECOM 7f261UJ1j8 03-767 983 18,164.30 170.47 GLOBE TELEC~ 712611996 03-768 17 1,875.20 456.13 GLOBE TELECOM. 8112/1996- 03-769 H 5 ,0 1 7.4 5 326.88 JARDINE ABOfflZ 81611998 D3771 18 3,595.70 4,601 .91 MENZI&CO 712S11996 03-772 various 50,621 .00 76.36 PHIL FUJI 811311998 03-954 10029 840.00 543.28 PLOT 811811'998 03-955 200623 5 ,9 7 6.1 0 100.56 ALESNA SEC. & DETAG~CY 81411998 401323 1,106.15 383.12 ALESNA SEC. & DEli AGENCY 812511998 ()3.956 1990 4,214.30 412.59 ALESNA SEC. & DJ:T AG{::NCY 91H1998 2301 4,536.50 748.87 ALESNA SEC..& GETAGENCY 03-Q71 2395 8,237.55 748.86 ALESNA SEC. & DET AGENCY 81411996 03-1010 2396 8,237.55 3 ,0 0 9.2 8 ALESNA SEC. & DEl" AGENCY 812511998 199-1 33,102.10 3 ,0 0 9.2 8 ALESNA SEC. & DETAGENCY 81311998 0~1059 2246 33,102.10 752.32 ALESNA SEC. & DET AGENCY 8/25(1998 1992 8,215.50 752.32 ALESNA SEC. & DET AGENCY 8131/1998 03-1049 2245 8,215.50 435.26 ALESNA SEC. & OET AGENCY �813111998 D3-13Ef7 231�7 4 ,7 8 7.8 5 752.32 ALESNA SEC. & DET AGENCY 8131/1998 03-1388 2391 8,215.50 152.32 ARCHANGEL SECURtlY~ JNV 812B/1998 03-1389 2318 8 ,2 1 5.5 0 695.23 ARCHANGEL SECURITY & l N\1 813111996 03-1390 1021 7,647.50 1,827.84 ARCHANGEL SECURITY & INV 8131/1998 03-1391 1033 20,106.25 1,669.44 ARCHANGEL SECl!RITY & JNV 9112/1998 03-1392' 1034 18,363.85 695.23 ARCHANGEL SECORRY & I NV '911211998 03-1393 1074 7,647.50 1,028.16 EQUATORIAL SEC SERV 613011�998 03-1394 1015 11,309.15 624.00 EQUATORIAL SECSERV 7/31/1�998 03-1386 2631 6,864,00 624.00 GLOBE TELECOM 812611998 03-1397 2934 6 ,8 6 4.0 0 625.66 JARDINE ABOITIZ 03-1398 18 6 ,882..30 2,092.35 JARDINE ABOITIZ various 03-14&1 various 23,015,85 8 ,4 5 6.7 9 'PHIL FUJI various 03-1403 varioos 93,024.70 530.09 911511998 03-1404 247769 5 ,831 .00 03-1405 03-1406 03-1520 1)3..1521 03-157819 03-1594 03-1595 03-1700

PLOT 811811998� 03-1688 401303 1,181 .30 107.39 PLOT 91181t998 03-1689 44518 953:90� 86.72 PLOT 911811998 03-1690 .w30815 268.24 PLOT 911811998 03-1691 442620 2,950..65 799.62 PLOT 911811998 03-1692 429498 8,795.80 128.61 PLDif 911811998 03-1693 -442621 1,41�4.70 322.12 SMART COMMUNICATIONS 811511998 03-1789 175936 3 ,5 4 3 . 3 0 121.67 Subtotal 1,338.35 89,413.58 784,081.24 p 47.60 (b) Input VAT supported by invoiceslollicial receipts not in the rane ofGorones Developnent 37.25 CorporatiOn 1,028.16 CEBUM CONSTRUCTION 6/7/1998 03-164 523.60 p 6 .3 6 177.27 (c) Input VAT wilh no supporting doamant 129.91 1,115.00 AHESCOR PETRON� JUL 409.75 p 288.83 ARCHANGEL SECURITY JI:JL 11,309.75 858.95 CEBU PJONEER AUTO SUPPLY JUL 85.06 JL CERNA SALES JUL 69.95 170.17 JVF HARDWARE JUL 1,950.00 85.06 MONARK:EQUIPMENT CORP JUL 1,429.00 15.10 PIUPINO TELEPHONE JUL 12,265.00 220.00 PLOT JI:JL 3,177.15 338.18 JUL 9,448.50 10,850.91 PLOT JUL 741 .48 JUL 935.65 353.65 PLOT JUL 1,871 .85 1,096.70 PLOT JUL 130.00 PLOT JUt 935.65 95.15 POWER AUTO PARTS JUL 166.10 4 ,0 9 0.91 POWER AUTO PARTS JUt 2,420.00 214.60 ROOStNDTL AUG 3,720.00 340.00 SELLCHEM CORP AUG 119,360.00 7,974.55 ALESNA SECURJ<TY AUG 8,156.25 126.78 ARCHANGEL SECURITY AUG 3,89(U5 1,454.40 EVERCAREPHARMACY AUG 12,063.70 21 .82 HJFOTOFAST AUG 1,430.00 124,401 .85 JUSTINO :1NDL AUG 1,046.65 1,674.65 TOYOTA DISTRN SEP 45,000.00 20,525.15 TRISAlES SEP 2,360.60 178,847.80 8 BENEDICTO & SONS SEP 3,740:00 CENIZA PETRON SEP 87,720.00 681 .82 CERTIFIED CHEMICAl SEP 1,394.60 EDE~ ElECTRICAL SEP 15,998.40 JARDINE ABOiiT:IZ SEP 240.00 MASING SAND & GRAVEL 1,368,420.30 PlUPINAS SHEll 18,421 .1 5 Subtotal 22:5,776.60 1,965,.128.75 p (d) Input VAT wilh noV, TIN, 11NN or BIR Permit 4A'S DEVT CORP 6/19198 03-1 7,500.00 p

CATAGBACAnARRASTRE 715198 03-95 18021 165.00 15.00 ESAMKTG CORP 7/10/98 5214 16,850:00 1,531 .82 ESAMK<FGCORP ~199 ~.000.00 lGH DIESEL 7f0191J 5225 2,727.27 LGHDIESEl 7/21/98 03-200 4,470.00 RELT:RADING 7128198 3517 8,080.00 406.36 SHAMROCK ENG:G 6I29J98 D3-323 3520 1.062..m 734.55 ACE PLUS l�-324 3442 15,580.00 ACEPUJS 7124198 03-445 494 2,400.00 96.60 CATAGBACANARRASTRE 8125198 D3-475 5882 1,416.36 FORTUNE .P.RlNTmG PRESS 75.00 HARNWEU. CHEMICALS 8125196 ~751 5884 650.10 218.18 SAIKUH MOTOR SALES 819198 4,500:00� 6.82 TONYEQPT 813198 03-752 18294 5,800.00 TONYEQPT 8111198 D3-S05 1,599.95 59.10 TONYEQPT 815198 391 1,92(l00 409.09 CONCHJNG ELECTRICAL 8I9J98 03-936 4560 6,215.00 527.27 SAJKUH MOTOR SAlES 180.00 145.45 TONYEQPT 81UW8 [)3-S60 3051 360:00' 174.55 TONYEQPT 8119198 122714 500.00 565.00 TONYEQPT 8128198 03-1124 122740 5,000.00 Subtotal 122741 660.00� 16.36 8128198 ~1'178 22202 600..00 32.73 912198 114,227.66 p 45.45 03-1179 122777 454.55 9114198 03-1180 1;22813 60.00 9114198 03-1502 122814 60.00 10;384.33 03-1765 46658 104 D3-1811 1152 00-1812 1153 03-1813 727 5fi1 (e) Non-VAT lnvoicesiReceipts 1111 1321 ALMARIO SHELl. SERVICE 6124198 D3-4 1348 551 .15 p 50.10 APACHE SERVICE CENT:ER 613198 03-762 737 1,236.56 :fUU:MART TRADERS 03-937 13,602.60 FUUMART TRADERS 8128198 03-938 17201 2,790.00 253.64 GOLDEN GATE REALTY 8128198 03-957 17202 1,250.00 113.64 MEL&.JMKfG 03-1009 17123 61�,367.00 5,578.82 ROCMKrG 8119198' D3-1123 17118 29,000.00 2,636.36 FULlMART TRADERS 00-1565 17..0S 27.27 FULlMART T-RADERS 8128198 03-1566 17506 300.00 313.64 GOLDEN GATE REALTY D3-1580 17554 3,450:00 65.46 Subtotal 7128198 39598 6,007.82 9122198 400097 720.00 18,213.31 9129198 40546 66,086.00 914198 41363 17t,11a.75 p 41437 (f) Input VAT on saJes of services not supported by oftic:ial receipt ABOITIZ&CO 6I30J98 03-6 275.00 p 25.00 ABOITIZ&CO 6I30J98 03-7 25.00 ABOlTIZ&CO 6I20J98 D3-8 275.00 15,000.00 ABOITIZ&CO 6/1198 165,000..00 7,835.40 7/1198 0~ 86,189.40 125.00 ABOlTIZ & -co 711196 2,373.20 7/1198 03-10 1,375.00 520.00 ABOITIZ&CO 612198 03-11 26,105.20 24.50 ABOITIZ&CO 6I8J98 03-12 11 .50 A'BOITIZ AIR TRANSP.ORT 6/1&98 03-13 5,720.00 7.00 ABOlTIZ AIR TRANSPORT 7/1198 03-14 269.50 16.01 ABOITIZ AIR TRANSPORT 711198 03-15 126.50 3.50 ABOITIZ AIR TRANSPORT 03-16 77.00 ABOITIZ AIR TRANSPORT 03-17 176.10 38.50

ABOITIZ AIR TRANSPORT 718198 03-18 41859 66.00 6 .0 0 ABOITJZAIR TRANSPORT 7/14198 00-19 �2183 460:80 41.89 ACOLANOINC 7/10198 03-32 1288 244,896.50 22,263.50 ARCHANGELSECURnY 6130198 03-55 7 ,6 4 7.5 0 695.23 ARCHANGEl SECURITY 6130198 03-56 821 11 ,309:75 1,028.16 ARCHANGELSECU~ITY 6130198 822 18,849.60 1,712.60 ARCHANGEL SECURITY 6130198 [)3.57 823 18,12250 1,647.50 ARCHANGEL SECURITY 6130198� 824 7,647.55 695.23 ARCHANGELSECURfTY 6130198 03-58 875 18,849.60 1,713.60 6130198 03-59 877 18,521 .35 1,683.76 ARCHANGELSECUR~TY 613011998 03-60 881 99,723.35 9,065.76 7123191J 03-61 724 743,613.65 67,601 .24 ASTRAL CONS. & DEVCORP 7/1/98 03-62 2200 317.45 28.86 BALAMBAN �CONCRETE 7125198 03-71 423,549.50 38,504.50 CEBU COLUMBIA PHOTO 7113198 03-105 2101 99,939..20 9,085.58 FAR EAST CONSTRUCTION 7/21./98 03-228 6 165,225.50 15,020.50 FOR �CONSTRUCTION 718198 03-229 7 23,794.55 2,163.14 FOR CONSTRUCTION 7/10198 03-230 85,291 .35 7 ,753.76 JCL JR CONSTRUCTION- 7/17/98 03-266 219 45,360.70 4,123.70 JCL JR CONSTRUCliJON 712!1198 03-267 220 15,845.05 15,845.05 JCL JR CONSTRUC-TION 6130198 03-268 222 800.00 72.73 JCL JR CONSJ'RUCTION; 6130198 03-269 223 4,800.00 436.36 METAPHIL 1JNC 6115198 03-335 550 76.00 6 .9 0 METAPHIL INC 7116.98 03-336 626 65,250.00 5,931 .82 MULTI STORE CORP 7/11/98 03-366 336448 15,580.00 1,416.36 ROOSINDTL 7110198 03449 209 600.00� 54.55 SHAMROCK ENG'G 7/29/!JIJ 03-473 8435 9 ,000.00 818.18 SHAMROCK ENG'G 6/15198 03-474 8431 485.65 44.15 SHAMROCKENG'G various 03-476 8668 2, 176,168.00 197,833.45 SMART COMMUNICATIONS 712D/98 03-478 15770340 165,000.00 15,000.00 UNDAlOC CONSTRUCTION 8/1/98 03-556 to 03-585 various 1,375.00 125.00 ABOITIZ&CO 811/98 03-743 17308 86,189..40 7,835.40 ABOITIZ&CO 8131.198 03-744 1noo 6,600.00 600.00 ABOITIZ&CO 8/1/98 03-745 17871 3,410c00 310.00 ABOITIZ&CO 7/31/1'998 03-746 17912 101 ,333.55 9 ,2 1 2.1 4 ABOITIZ&CO 817.198 03-747 17800 188,395.90 17,126.90 ASTRAL CONS. & DEV CORP 8120198 03-773 736 114,633.40 10,421 .22 FOR CONSTRUCTIDN 8120198 '03-934 8 4,510..20 410.02 FOR CONSTRUCTION 7/31/98 03-935 9 4 ,8 0 0.0 0 436.36 JCL JR CONST-RUCTION� 816196 03-972 224 587,852.10 53,441 .10 METAPHIL INC 8l5t98 03-1012 996 294,917.35 26,810.67 PEARL ENTERPRISES 7/15198 03-1048 1095 1,952.70 1n.52 RARE CRAFT JND various 03-1119 22 1,997,108.50 181 ,555.31 SMART COMMUNlCAn ONS 8110198 03-1143 16676139 57,332.00 5,212.00 UNOALOC CONSTRUCTION 8/17/98 03-1197to 03-1224 various 67,265.00 6 ,1 1 5.0 0 VEN-HEWER CONSTRUCTION' 8/22198 03-1�299 7 68,670.00 6,24273 VEN-HEWER CONSTRUCTION 918198 03-1300 8 1 ,3 3 9 . 2 5 121 .75 WTG CONSTRUCTION 7131198 03-1304 814 440.00 40.00 ABOITIZ&CO 7131/98 03-1346 1405 440.00 40.00 ABOITIZ&CO 8120198 03-1347 17839 15,000.00 ABOITIZ&CO 7/1.198 03-1348 17840 165,000~00 45.00 ABOITIZ&CO 03-1349 17739 ABOI1lZ&CO 03-1350 17583 495..00

ABOITIZ&CO 911198� 03-1351 18-156 86,189.40 7,835.40 ABOITJZ&CO 9130t'98' 03-1352 18194 825.00 75.00 ABOJT!Z&CO 03-1353 18394 440.00 40.00 ABOITIZ &.CO 9J3(W8 03-1354 17970 125.00 ABOITJZ AIR TRANSPORT 03-1355 42330 1,375.00 3.50 ABOITIZ AIR TRANSPORT 911198 03-1356 -43314 38.50 3 .5 0 ABOITIZ AIR TRANSPORT 7122198 03-1357 43974 38.50 7.00 ABOITIZAIR l'~PQRT 813198 03-1358 44381 77.00 4.50 ABOITIZ AIR TRANSPORT 818198 03-1359 45200 49.50 10.50 ABOI:TIZ AIR TRANSPORT 8/15198 03-1360 45113 115.50 11 .50 ASTRAL CONS. & DEV CORP 8122198 03-1408 747 126.50 911/98 03-1418 22ST 9,168.42 -BAlAM8AN CONCRETE 8131/1996 03-1419 2263 100,852:60 11 ,421 .90 8128198 03-1496 13966 125,640.90 10,850.51 BALAMBANCONCRETE 914198 03-1497 24918 119,355.60 COLOURS ff)TO SHOp 8122198 03-1498 28035 18.77 COLOURS PHOTO EXPRESS 8128198 03-1499 28036 206.50 27.09 COlUMBIA PHOTOMART 8126198 03-1564 29ft()() 28.68 COLUMBIA PHOTQMART 8l2fll98 03-1641 10 315.50 25.86 �FDR CONSTRUCTION .914198 03-1642 1051 284.45 6,715.91 METAPHIL INC 8121198 '03-1643 1198 73,875.00 200.00 METAPHIL INC 8131198 03-1644 1199 2,200.00 68.18 METAPHIL �INC 8131198 03-1686 t240 750.00 436.36 METAP.HIL INC 9I25J98 03-1818 1100 4,800.00 245.45 PEARL ENTERPRISES 9111'198 03-18-19 f!6ffT7 2,700.00 115,629.60 UBIXCORP 7/31J98 65785 173.75 UBIXCORP 8131/98 03-1820 to 03-1844 1;zn,925.60 194.72 UNDALOC CONSTRUC'FION variOus val'ious 159,033.21 VEN-HEWER CONST.RUCTION 8125198 03-1912 1,911.25 5 ,4 9 4.0 0 VIRGINIA INTI:. PRODUCTS 714198 03-1916 9 2,141 .90 3,100.00 VIRGINIA INTl PRODUCTS 911&'98 03-1917 37703 1,749,365.35 7,200.00 37888 60,-434.00 1,127,686.60 Subtotal 34,100.00 79,20(l00 1,037.60 12.241.111.21 p 396.70 (g) qJUt VAT suppolfed by invoiceslollic: receipts not tonnally ollerad (No exhibit numbers) 15,977.27 171 .36 MONARKEQPT 7121/98 303591 11,413.60 p 250.00 MONARKEQPT 7130198 304990 4,363.70 MOUNTAIN UNKMJ<fG 7/11198 3776 175,200.00 17,132.93 PROGRESSIVE AUTOMART 718198 25944 1,885.00 1.420,34$.21 UBAY ARRASTRE 911/98 2,750:00 903 195,112.30 p Subtotal 11,464,117:.48 p Total 4TH QUARTER (a) Input VAT~ only by Billing Statement, Account Summary, Debit Memo, Debit Note <llld1DeJiVery Receipt. GLOBE TELECOM 9112198 04-237 19 2,52210 p 229.28 GLOBE TELECOM 4,671.15 424.65 GLOBE TELECOM 9126198 04-238 19 3,287.45 298.86 GLOBE TELECOM 4,700.20 427.29 10112198 ;04-239 19 10112198 04-240 20

JARDINE ABotTIZ various D4-255 varioos 10,890.10 990.01 JARDINE ABE>JTIZ various various 135,399.30 12,300.03 METAPHIL :INC. 9J29J98 [)4.,256 METAPHIL INC. 1253 900.00 81 .82 PHIL FUJI 9130198 04-414 1403 750.00 68.18 PLDT 04-415 248174 5 ,0 2 2 . 5 0 456.59 PLOT 1011�2198 D4-475 457980 1,019.00 92.64 PLDT 10118198 D4-i53 459277 2,121 .35 192.85 PlOT 10118198 04-454 471019 4,018.30 365.50 PLOT 10/18198 04-455 472B72 1,000.95 95.54 PLDT 10118198 04-456 472892 991 .55 90.14 PLOT 10/t 8198 472893 1,304.50� 118.59 SMART COMMUNICATION 10118198 D4-457I QJ977 991 .55 90.14 ALESNA SEC & DET AGENCY 1Qf18198 04458 18521 486.85 44.26 ALESNA SEC & DET AGENCY 1Qf15198 04-459 2661� 8,275.50 752.32 ALESNA SEC& DET AGENCY 9115198 D4-540 2754 8;275.50 752.32 ALESNA SEC~ DET AGENCY 9I30t98 2817 8,275.50 75232 ALESNA SEC & DET AGENCY 10115198 D4-768 2928 8,275.50 752.32 ALESNA SEC & DET AGENCY 10131/98 04-767 2816 3,890.15 353.65 ARCHANGEL SECURtTY & INV 10115198 04-768 2930 2,269.30 206.30 ARCHANGEL SECURITY & ;INV 10131198 1!>4-769 1244 7,647.50 695.23 ARCHANGEL SECURITY & INV 101201'98 04-770 1245 12,063.80 1,096.71 ARCHANGEL SECURITY & INV 1>+771: 1257 24,127.50 2,193.41 ARCHANGEL SECURITY & 1NV 10128198 04-773 1258 18,363.85 1,669.44 ARCHANGEL SECURilY & INV 04-774 1313 7,MT.50 695.23 ARCHANGEL SECURllY & INV 10131198 1!>4-775 1314 11 ,435.40 1,039.58 ARCHANGEL SECURJTV & 'INV 10131198 04-776 1315 22,619.50 2 ,0 5 6.3 2 EQUATORIAL SEC SERV U/15198 04-777 1316 18,164.30 1,651 .30 EQUATORIAL SEC SERV 11/15196 04-778 3206 6 ,8 6 4.0 0 624.00 METAPHIL :INC 11/15198 04-779 3707 6,864.00 624.00 METAPHIL INC 11115198 04-780 1554 750.00 68.18 METAPHIL INC D4-870 1555 6,600..00 600.00 PLOT 10111!~ 04-871 1050 27,426.85 2 ,4 9 3.3 5 PLOT 04-1018 486725 1,473.45 133.95 ALESNA SEC & DET AGENCY 8131198 04-1019 499825 2;357.50 214.32 ARCHANGEL SECURITY & :INV 10131198 04-1)20 2818 17,881.25 1,625.57 ARCHANGEl SECURIT'I & JN.V 10131198 04-1040 1445 20,117.00 1,628.82 ARCHANGEL SECUR�'N & INV 8120198 04-1041 1382 22,619.50 2,056.32 ARCHANGEL SECURffY-& :INV H/18198 04-1290 1383 18,363.85 1,669.44 ARCHANGEL SJ:CVRilY & INV W18f98. 04-1292 1431 7,MT.50 695.23 ARCHANGEl SECURITY & JNV 10115198 04-1294 1-432 11 ,4 1 4.5 0 1,037.68 ARCHANGEL SECll RITY-& lNV H/30o'98 �>4-.1295 1442 20,765.35 1,887.76 ARCHANGEl SECURtTY & INV 1.1/30198 04-1296 1433 22,619.50 2,056.32 ASTRAL CONS. & DEVCORP 1-1/30J98 04-1297 1434 18,164.40 1,651 .31 EQUA'f<ORIAL SEC SERV 12115196 0+1298 772 181,660AO 16,514.58 EQUAtORIAl SEC SERV 12/15198 04-1299 2982 6,864.00 624.00 GLOBE TELEG.OMS 12/15198 04-1300 2983 6 ,8 6 4.0 0 624.00 GLOBE TELECOMS 12/15198 �>4-.1301 21 4 ,123.90 374.90 GlOBE TELECOMS 12/15198 04-1376 22 2 ,786.20 253.29 GLOBE TELECOMS 11130J98 04-1377 21 3,273.15 297.50 JARDINE ABOJllZ 11131198 04-1440 22 3,861 .75 351 .07 11130198 04-1441 various 69,832.50 6 ,348.41 11/12198 04-1442 12/12198 04-1443 11126196 04-1445 12/2JW8 various

JARDINE ABOITIZ 12/1198 04-1446 10605 4,828.45 438.95 JARDINE ABOJTIZ 12/1198 04-1447 10559 52,800.00 4,800.00 METAPHJL INC 11130t'98 04-1.w57 1704 METAPHIL INC 1113(W8 04-1468 1705 4,799.95 436.36 PIONEER INSURANCE 12/1'/96 04-1513 40092 750.00 68.18 PLOT t2124198 04-1490 275963 PLOT 12/18198 04-1491 515785 61 ;;l!Z7.10 5,566.10 PLOT 12/1'8198 04-1492' 528881 2,102.85 191.17 PLOT 12/18198 04-1493 515805 1,151 .60 104.69 PLOT 12/18198 04-1494 530672 2,210.80 200.98 PLOT 12/18198 04-1495 530692 1,073.15 97.56 PLOT 12/18198 04-1496 530693 1,065.15 96.83 PLOT 12/1�8198 04-1497 1,077.80 97.98 PLOT 12/18198 04-1498 53Dm 1,268.10 115.28 PLOT 12/18198 04-1<199 88.68 POWER AUTO PART S 11/27198 04-1514 517102 975.50 192.46 POWER AUTO PARTS 1219198 04-1515 2,117.05 367.57 SMART COMMUNICATIONS 11/15198 04-1536 52688) 4,043.30 21 .37 Subtotal 226.73 621327 235.00 43.60 62919 2,494.00 20403933 88,860.37 479.60 177,351.80 p 39.91 30.91 (b) llplt VAT supported by invoic:esloftic receipts not in the name of Gorones Developme11t 31 .82 Corporation 102.64 MC GLASS ENTRP. 9114J96 04-413 54573 439.00 p 541.74 NSOCANA 1212i98 04-446 83872 340.00 42.00 JRASURPLUS 04-1449 58535 350.00 Subtobll 1,121.00 p 416.48 100,045.46 (c) Input VAT with no supporting document 321 .27 ACE HARDWARE PHILS OCT 5,959.25 p 32,040.36 MM!DAUE Cn:Y MOTOR SALES OCT 462.00 32,027.45 PILIPINAS SHElL OCT 32,027.45 BRIGHTSUN CORPORATtON NOV 4,581..23 32,027.45 ClvtC MERCH.M.IDISING NOV 1,100,500.00 DAVAO UNION ~KETING NOV 683.00 DAVAO UNION ~KETING NOV 3 ,5 3 4.0 0 33.18 DAVAO UNION MARL<ErlNG NOV 352,444.00 75.64 DAVAO UNION MARKETING� NOV 352,302.00 22.73 HI-SPEED REBUILOERS NOV 352,302.00 20.00 HO TONG HARDWARE NOV 352,302.00 71 .50 JVF HARDWARE NOV 173.64 LENTONMKTG NOV 7,513.00 983.64 LUvtMJfil.f?ORl' SERV NOV 365.00 873.18 MAJESTIC CHI.NESE CUISINE NOV 832.00 1,962.18 MAXIMA EQUIPMENT CO. NOV 250.00 1,761.20 MAXIMA. EQUI!?~ENl' CO. NOV 220.00 63.81 MAXIMA EQUUi~MENT CO. NOV 786.50 MAXIMA EQUIPMENT CO. NOV MONARK EQUIPMENT CORP NOV 1,910.00 NATIONAL BOOKSTORE NOV 10,820.00 9 ,6 0 5.0 0 21 ,584.00 19,373.20 702.00

PHIL POR"f, AUTHORI'fY NOV 1,235.50 11230 POWER AUTO PARTS NOV 1",160.00 105.45 PROGRESSJVE .~UT~T NOV 1,980.00 180.01 PUERTO SERVICIO DE CEBU NOV 1,280.10 116.37 RAMCAR TIRE CORP NOV 3,052.00 NOV 3,052.00 m .45 RAMCAR DRE CORP NOV 12,700.00 m .45 NOV 15,600:00 RAMCAR TIRE CORP NOV 2,269.00 1,154.55 RAMCAR TIRE CORP NOV 1,418.18 RAMCAR TIRE CORP NOV 675.50 SOUTHERN-VEN"f.URES FOOD NOV 110.00 208.09 TAUBON ARRASTRE DEC 5,271 .00 61 .39 TOYOTACEBU DEC 124.95 10.00 A&.P PRINTERS DEC 3,417.00 ABOMAR CO&PORATION DEC 4,300.00 479.18 D.EC 2,848.15 11 .36 ABOMAR CORPG,ftA'TIGN DEC 1,139.25 DEC 19,136.25 310.64 ABOMAR CORPORATION' DEC 385.91 390.91 ACE HARDWARE PHilS DEC 507.95 258.92 AGNOCONST DEC 103.57 ALMARIO SHELL SERVICE DEC 15.00 1,739.66 ALMARIO SHEll SERVICE DEC 555.76 Ai..MAR:IO SHELL SERVICE DEC 52295 35.08 ALMARIO SHELL SERVICE DEC 8,215.00 46.18 AMESCOR PETRON� DEC 8 ,2 7 5.0 0 ARCHANG.EL SECURITY DEC 24,127.50 1.36 ARCliANGEL SECURITY DEC 18,363.85 50.53 ARCHANGEL SECURITY DEC 7,647.50 47.54 ARCHANGELSECU~ITY DEC 12,063.70 752.32 ARCHANGELSEC4RllY DEC 21 ,076.00 75232 ARCHANGELSECUmTY O.EC 8 ,2 7 5.5 0 2,193.41 ARCHANGELSECl.JRITY DEC 9 8,301 .1 5 1,669.44 ARCHANGELSECUR!TY DEC 43,500.00 695.23 ASTRAL CONS. & DEV CORP DEC 39,392.80 1,096.70 B. BENED.ICTO & SONS DEC 39,848.80� 1,916.00 BALAL<aAN CONSTRUCt iON DEC 39,228.00 75232 BALAKBAN CONSTRUCTION DEC 39,97280 8,936.47 DEC 13,575.00 3,954.55 BALAKBAN cQNsmucnGN DEC 1,050.00 3,581 .16 DEC 2,250.00 3,622.62 BALAKBAN CONSTRUCTION DEC 1,078.00 3,566.18 BETAN CALIBRATION DEC 2,341 .45 3,633.89 BGYENTRP DEC 11200 1,234.09 BGYENTRP DEC 1�,030:00 . 95.45 BOHOl TROPICS RESORT DEC 570.00 204.55 BOHOL TROP.ICS RESORT 'DEC 6 ,0 0 0.0 0 98.00 BURGER KING DEC 850.00 212.86 CEBU ASIAN MOTQRS DEC 130.00 10.18 CEBU ASJAN ,MQTORS DEC 4,500.00 93.64 CEBU PIONEER "UTO SUPPLY 150.00 51 .82 CEBU PIONEI;R A4'TOSUPPLY 360.00 545.45 77.'Zl CEBU PIONEER AUTo SUPAY 11 .82 409.09 CEBU PIONEER AUTO SUPI?LY 13.64 CEBU PIONEER AUTO SUPPlY 3273 CEBU PICi>NEER AUTO SUPPLY

CEBU PIONEJ;R AU<TO SUPPLY DEC 200.00 18.18 CEBU PION~ AUTO SUPPLY DEC 1,600.00 145.45 CEBU PIONEER AUT~ SUPPLY DEC 34.55 CEBU PIONEER AUTO SUPPLY DEC 380.00 236.36 COMMERCIAL GlASS CORP DEC 2,600.00 57.ZT OEUGOURMET DEC 133.02 EDDIES LOG-CABIN DEC 630.00 EDEN ELECTRICAL DEC 1,463.20 44.80 FIO�NTRP DEC ZT.ZT f/DENTRP DEC 492.80 3 ,6 0 6.4 0 FOSROC PHILS DEC 300.00 3 ,5 8 6.7 6 FUUMART TRADERS DEC 39,670.40 1,849.91 FUUMARTTRADERS DEC 39,454.40 193.n FUU.MART TRADERS DEC 20,349.00 GAISANO METRO DEC 2,131 .50 245 GAISANO SOUTH DEC 118.18 GEESNELL ENTRP DEC 27.00 1,000.00 GEESNELL ENlRP DEC 1,300.00 50.55 GEOMATICS INSTRUMENTS DEC 11 ,000.00 471.27 GERONGCO CONST. DEC 445.45 GILBROS 'ENTRP DEC 556.00 181 .82 GLOBE TELECOMS DEC 5,250:00 5,569.90 GOlDEN GATE REAU Y DEC 4,900.00 251 .35 HI-SPEED REBUil'D,ERS DEC 2,000.00 497.30 HI-SPEED REBUII!.DERS DEC 61,268.90 6 ,0 0 7.8 2 HJ-SPEED REBUIU)ERS DEC 2,764.80 58.00 HI-SPEED :REBUI~RS DEC 5,470.30 Hf-SPEED RE~UilDERS DEC 66,086.00 18.00 HI-SPEED REBUILDERS DEC 7.00 IMPHILMKTG DEC 638.00 12.25 JAMILUAM FOOP HOUSE DEC 198.00 60.00 JAMILUAM FOOD HOUSE DEC 71.00 55.00 JAMIL.I..JAM FOOP HOUSE DEC 134.75 134.94 JESUS U� ENTRP DEC 660.00 11 .82 JESUS U:Y ENTRP DEC 605.00� 12.55 JESUS UY ENlRP DEC 1,484.35 12.73 LUVIMIN PORT SE~V DEC 136.00 70.91 MAJESTIC CHINESE CUISINE DEC 138.00 82.73 MAJESTIC �CHINESE CQJSINE DEC 140.00 14.09 MAXIMA EQ!JIPMENT CO. DEC 780.00 20.00 METAPHILINC DEC 910.00 100.28 METAPHIL .INC DEC 155.00 172.73 METRO AYALA CENTER DEC 220.00 954.55 METRO CENTRE HOTEL DEC 1,103.10 68.18 METRO CENTRE HOTEl. DEC 1,900.00 436.36 METRO CENTRE HOTEl:. DEC 10,500.00 79.64 MISSAN PARTS CENTER DEC 750:00 181 .82 NORTHERN STAR TRADING D.EC 4,799.95 56.24 NVPAS RECAPPING CO DEC 876.00 7201 NVPAS RECAPPING CO DEC 2,000:00� 318.18 NVPAS RECAPPING CO DEC 640.65 3273 792.10 740.51 3 ,5 0 0.0 0 1,381 .38 360.00 1,409.09 8,145.60 15,195.20 15,500.00

NVPAS RECAPPING CO DEC 13,772.00 1,252.00 NVPAS REAPP,ING CO 7,991..20 726.47 Pl..AUMARCEU.A aec 531.25 48.30 PLAZA MARCELLA 134.75 12.25 PLAZA MARCELLA DEC 245.00 22.27 PLAZA MARCELlA DEC 50.00 4.55 D.EC 284.00 25.82 P~MARC~UA DEC 250.00 22.73 DEC 280.00 25.45 PLAZA MARCEllA DEC 926.00 84.18 PLAZA MARCELLA DEC 1,360.00 123.64 PlAZAMARCEUA DEC 650.00 59.09 PRIMEX TRADE SN:.ES DEC 150.00 13.64 PROG~IVEAUTOMART DEC 1,260.00 114.55 PROGRESSIVE AU'fOMART DEC 1,170.00 106.36 P.RQGRESS~VE AUTOMART DEC 55.00 5.00 PROGRESSI\lEAlHQMART DEC 260.00 23.64 PROORESSIVE..AUTOMART DEC 1,�XUXl 127.27 PROGRESSIVEI<QTOMART DEC 1,800.00 163.64 P.ROGRESSJVE I(UTOUART DEC 850.00 n2.1 PROGRESSIVEAUTOMART DEC 9,600.00 872.73 PROGRESSI\IEAUTOMART DEC 720.00 65.45 PROGRE$SIVEAUTONART DEC 1,520.00 138.18 PROORESSIVEfti)TOMART DEC 29.70 2 .7 0 PROGRESSIVE AUTOMART DEC 18:3.15 16.65 PUERTO ~ERVlCIO DEC 196.00 18.00 PUERTO SERVICIO DEC PUERTOSERVICIO DEC 19Jil 1.80 PUERTO SERVICIO DEC 49.50 4.50 202.95 18.45 PUERTO SERVICIO DEC 5.40 PUERTOSERVICIO DEC 59.410 4.50 PUERTO SERVICJO DEC 49.50 4.59 PUERTO SERVJClO DEC 50.00 2.70 PUERTO SERVICJO DEC 29.70 45.45 PUERTO SE.R\IICI() OEC 500.00 25.45 RANOlAMOTOR CENTER DEC 280.00 10.45 RANOLAMOTOR CENTER DEC 115.00 4.09 RANOLAMOTOR CENTER DEC 45.00 87.17 R.ANOI.AMOTOR CENTER DEC 958.90 565.50 RESIDENCE JNN CORP DEC 6,220.50 26.14 SAIKOH MOTOR SAlES DEC 287.50 1,664.49 SAN JOSE SUPPUES DEC 18,309.40 998.69 SEU.CHEM CORP DEC 10,985.63 1,664.49 SEU.CHEM CORP OEC 18,300.40 3,328.98 SEllCHEM CORP DEC 36,618.80 43.60 SELLCHEM CORP DEC 479.60 472.73 SMART CGMUUliiiCAllONS DEC 5,200.00 1,109.09 SOUTHERN.INDLGAS DEC 12.200.00 12.75 SOUTHERN INDL GAS DEC 140..25 1,597.09 SUGAR LOAF BAKESHOP DEC 17,568.00 266.36 TOTAL DISTR & LOGISTIC DEC 2,930.00 131.82 UNITEOAUTOMART DEC 1,450.00 UNITED AUTOMART DEC

UNJTED AU:t~RT DEC 1,920.00 174.55 UNIT.EJMUTOMAR'T DEC 2,500.00- 231 .82 UNITEDAUT~RT DEC 2,250.00 204.55 UNITED AUTOU,ARJ DEC UNIT-ED AUTOMART DEC 360.00 32.73 UNiliED AUTOMART DEC 1,101'l00- 100.00 UNITEDAUTOMART DEC 2727 UNITEDAUTOMAR'T DEC 300.00 59.09 �UNITED AUTQW\RT DEC 650.00 98.18 UN~TED AUTOMART DEC 1,080.00 101 .82 UNtTEDAlNOMART DEC 1,120.00 UNJTEOAUTOMART DEC 6 .8 2 UNlTED AUTotMRt DEC 75.00 150.00 UNITEDAUT()MART DEC 1,650.00 118.18 UNITED AUTQUART 'DEC 1,300.00 81 .82 UN~TED AUTOMART DEC UNITEDAUTOJ,AART DEC 900.00 18.18 UNITED AUT~T DEC 200.00- 35.45 UNITEDAUTOMART DEC 390.00 134.55 UNITED AUTOMART DEC 1,480.00 154.55 UNITED AUTQNART DEC 1,700.00� 159.09 UNITED AUTOMART DEC 1,750.00 200.00 UNITED AUTOUART DEC 2;200.00 270.91 UNJT�0 AI.JTQMART DEC 2,980.00 VEN-HEWER CONST DEC 100.00 9.09 WG&AINC DEC 1,058.00 96.18 VASCO MOTOR PARTS DEC 2;980.00 270.91 Subtotal 850.00 77.27 19,866.00 1,806.00 983.10 89.37 2,200.00 200.00 3,681,188.00 p 336.088.77 (d) Input VAT w;u.119 v,-11N. nNN ar BIR Permit MOUN:TAIN liNK 9I3QI98 11)4..435 3m- 160,000.00 p 14,545.45 MOUNTAIN liNK 9f.2G'98 228;000:00 20,TZ1.28 SEAMAN TRADE �CENTER 04-4(36 3TTT TONYEQPT 10130.98 157.69 1,300.00 118.18 TONYEQPT 04-532 1'22916 160.00 14.55 ACE PLUS 10129'98- 04-569 fZ291.S 610.00 55.46 ACE PLUS 1012.91J11 04-570 6359 750.00 68.18 ACE PLUS 1012St'98 04-747 6358 ACE PLUS 10129'98- 04-748 6438 1,610.00 146.36 ARINGAY CONSTRUCTION 11/12198 04-749 6357 1,300.00 118.18 FID EN:fERPRfSES 04-750 1,410.00 128.18 1~ 04-781 45 58,077.60 5,279.78 JVF HARDWARE 04-930 924 39;271.20 3,570.11 1.115198- D4-S85 222 55.82 JVF HARDWARE 04-986 224 614.00 2,290.91 JVF HARDWARE 12123198 04-987 226 25,200.00 267.70 TEXTR~N PORP HJ9198 D-1142 162 154.55 JF DISTRI@!JTO~S 04-1448 2,944.75 31 .82 JVF HARQWAAE 11120198 04:-1450 227 1,700.00 47.45 11121-/QS 04-1451 228 JVF :HARDWAJU: 04-1452 232 350.00 7.27 1116198 04:-1453 233 522.00 266.08 JVF HARDWARE 970.91 JVF HARDWARE 11119/96 an.oo 12/M~ 2,927.00 10,680.00 12/1198 t2JSI98- 1'215198

JVF HARDWARE 12/11196 04-1.454 234 900.00 90.00 MOUNTAIN liNK 11128198 04-1�475 3766 13,218.18 TONYEQPT 12/11B8 04-1560 123008 145,-400.00� TOP GOLD PHILS 1fY.29198 04-1561 901 66.36 TOP GOLO PHits� 10129196 04-1562 3375 m .oo 59.00 &llllotal 1,442.99 04-215 1346 650.00 13.740.84 64-216 1347 04-217 1432 15,873.00 04-218 1'491 711,14t.ll p 04-2f9 1400 (e) Non-VAT~ 04-220 1489 D4-221 1365 FUllMART TRADERS 9.129198. D4-222 1375 385.00 p 35.00 FUUMARTTRADERS 9.129198 04-.2228 1376 250.00 22.73 FULLMART TRADERS 1Q16198 04-223 1'395 388.50 35.32 FUUMART TRADERS t0/16198- D4-241 753 4,370.00 397.27 FUu:.MART TRADERS 1011�6198 1547 3,58200 325.64 FULLMA.RT TRADERS 10116198 [)4.936 1598 585.00 53.18 FUt.LMART TRADERS 101213198 1610 548.00 49.82 FULLMARTTRADERS 10129198 04-937 1611 1,8'75.00 170.45 FULUAART lRADERS 10J29198 D4-938� 1394 135.00 12.27 FUUMART TRIJ')ERS 10130198 1396 1,100.00 100.00 GOLDEN GATE REALlY CORP 1tfl198 .[)4.939 1546 66,066.00 6,007.82 FULJ...MART TRIJ)ERS 11111198 1545 3,100.00 281 .82 FULLMART TRADERS 11121�198 04-940 211.20 554.00 50.36 FULLMART TRADERS 11126fa8 04-841 2173 440.00 40.00 'FUUMART TRADERS 11r.!6198 04-942 1657 510.00 51 .82 FUUMART TRADERS 1()13(W6 04-&43 1656 230.50 20.05 FUUMARTTRADERS 04-1168 1632 30.00 2 .7 3 FULI.MART T'RAOERS 1000198 04-1169 92.00 8 .3 6 FUUMART TRADERS 11/11198 04-1432 17929 390.00 35.45 USA� ARRASTRE 11/11198 04-1�433 18228 2,75EUXl 250.00 'UBAY ARRASTRE ff/7198 04-1434 18266 550.00 50.00 FUUMART TRADERS 11110t'998 18654 1,502.00 136.55 FUU:..MART TRADERS 1218198 18525 157.00 14.27 FUI.l.MART TRADERS 1218198 18577 360.00 32.73 Subtotal 1213198 18578- 10,838.00 p 8,183.64 46996 (I) Input VAT on sales of servic:es not supported by ollicilll receipt 47296 47694 ABmTJZ&CO. Q12011998 04-5 1473 165,000.00 p 15,000.00 ABOtTIZ & COc 10131'/1998 D4-6 1474 825.00 75.00 1M/1998 04-7 ABOITIZ& CO. 1112/1998. 04-8 1,375.00 125.00 1011/1998 04-& 1.00,459.20 14,587.20 ABOITIZ & CO. 10131/1998 04-10 2:24809.40 20,255.40 ABotTIZ & CO. 10131/1998 04-11 ABOAlZ & �CO. 911911998 04-12 2,200.00 200.00 ABOITJZ & CO. 913011996 04-13 440.00 40.00 ABOTJZAIR TRANSPORT 1011/1998 04-14 945.00 85.91 ABOT.JZ AIR TRANSPORT 1011/1998 04-24 306.25 27.84 ABOTIZ AIR TRANSPORT 1011/4998 04-25 49.50 4.50 ACOLAND INC. ACOLAND INC. 5,215,787.05 474,162.46 1,320,000.00 120,000.00

ALESNA.SEC & DET &'31/1998 [)4.34 2531 24,826.55 2,256.96 ALESNA SEC �& OET 8115/1998 2646 24,826.55 2;256.96 AlESNA SEC & DET 911511998 ()4.35 2736 21,304.50 1,936.n ALESNA SEC & DEl 913011998 2755 20,905.50 1,900.50 ALESNASEC & OET 9115/1998 ~ 2636 3,800:15 M:ESNA SEC & �DET 913011998 2736 4,214.35 353.65 ARCHANGf l SECUR.tTY 911511998 04-37 1081 18,649.60 383.12 ARCHANGEf. SECURtT'f 911571QQ8 D4-38 1082 18,164..40 1,713.60 913011998 04-39 1140 18,649.60 1,651 .31 AR~GELSECURJTY 913011998 04-40 U41 18,164.30 1,713.60 9128/1QQ8 04-41 1132 7,647.50 1,651 .30 ARCHANGEl SECURilY 9128/1998 04-42 1133 11 ,309.75 695.23 ARCHANGEl SECURI"J!Y 10113/1998 04-43 1190 1,028.16 ARCHANGEL SE~URITY 10113/1998 04-44 f-191 7,647..50 695.23 ARCHANGEl SECURITY 10/1'511998 04-45 1205 11 ,309.75 1,028.16 ARCHANGEt SECURITY 1011511998 04-46 1206 20,860.20 1,896.38 ARCHANGEL SECURITY 913011998 . 04-47 754 18,164.40 1,651.31 ARCHANGEtSECURflY 10122/1998 04-48 7'f77 102,910.35 9,355.49 ASTRAL CONS 1011.911998 04-49 11 20.00 CBX OOR�PORAOON 10131/1998 04-50 f110 220.00 7,43().49 FOR CONSTRUCTiON 1012311998 04-81 24 81 ,735.35 92,859.50 P E A R L E Nl iERPRlSES 913011998 04-213 65892 1,021',454.50 5 ,605.8 2 RARE CRAFT IND. 04-452 various 61,664.00 21271 UBIXCORP vanous 04-519 18596 2,339.80 1n.001.19 UNDALOC CONSTRUCTION 04-578 18618 1,948,069..20 125.00 .MK>ITIZ & CO. 11130198 18637 1,375..00 15,000.00 ABOJTIZ & CO. 111201$8 ~toD4-607 18524 165,000.00 75.00 ABOJTIZ & co~ 11130198 1559 14,587.20 ABOITIZ&CO. 1011198 0+732 1560 825-.00 10,000.00 ACOlAND, INC 11/1.1198 04-733 764 160,459.20 700.00 ACOLAND, INC 11/t-1198 04-134 1115 110,000.00 9,042.11 ASTRAL CONS 10131198 04-735 458520 49,593.50 PEARL EN:rERPRlSES 11/12198 04-751 65994 7,700.00� 64.17 9115198 04-752 various 99,463..20 234.90 SMARTCOMUUN~AnONS 10131198 0+782 18788 545,528.50 164,863.07 various 04-1038 18797 15,000.00 UBIXCORP 1212IJ198 04-1129 18819 705.85 75.00 UNDAlOC CONSTRUCTION 12131198 04-1170 18864 2,583.90 125.00 ABOITIZ & CO. 12131198 D4-11711D 04-1196 18958 1,813,493.85 14,587.20 1211-198 D4-1'2iil 1610 165,000.00 160.00 ABomz&co. 11130196 04-1268 17 350.00 1212198 04-1.269 15 825.00 5,110.00 ABOJTIZ & CO. 1214198 04-1-270 16 1,375.00 12,810.56 1214198 04-1271 20� 160,459..20 12,n1.oo ABOJTIZ & co, 12/4198- 041284 18 1,760.00 9,553.50 12129198 04-1424 19 3,850.00 3,503.64 ABOITIZ�& CO. 12129198 04-1425 11969 56,210.00 5,621 .00 ACOtANO�INC 1'2/'S98 04-1426 3064 140,916.15 389.82 FOR CONSTRUCTiON 11/21'198 04-1427 t118 140,481 .00 64,014.38 FOR CONSTRUCTION 12/2:WB 04-1428 11-24 105,088.50 53,448.00 FOR CONSTRUCTION� 11127198 04-1429 25 38,540.00 97,000.00 FOR CONSTRUCTION 12123J96 04-1431 61,831 .00 3 ,5 9 0.40 FOR CONSTRUCTION 11127198 04-1438 4,288.00 FOR CONSTRUCTION' 04-1488 704,158.20 FLORO BLUE PRJN'FJNG 04-1489 587,928.00 GAMPJN CONST. 04-1523 1,067,000.00 PEARL ENTERPRISES 39,494.40 PEARL ENTERPRISES RARE CRAFT INO

RARE CRAFT IND 12129/98 04-1524 26 145,890.60 13,262.78 UBIXCQRP 1t131WB D+-1570 83104 1,508.45 137.13 UBIXCORP 12131198 04-1571 83211 1,403.<10 127.59 UNDALOC CONSTRUCTlON various various VIRGINIA JNT.L PRODUCTS t117198 04-1572 to 04-1664 38084 2 ,7 9 9,2 7 9.5 0 254,479.95 VIRGINIA INTL P�ROOUCTS 12fll98 38083 11,038.50 1,003.50 Subtotal 04-1663 18,117.00 1,647.00 04-1664 19,723,1....60 p 1,793,009~ 11 invoiceslolldal......,._, (g) Input VAT supported by not fonnlllly oftered (No exhibit IUilbers) 18.20 567.86 ACE HARDWARE 101-13/1998 2241 200.20 p 1,27273 SIKA PHILS INC 10121/1998 11709 6,246.46 8,59276 CMC MERCHANDISING 10547 14,000.00 10,451.H PIUPJNAS SHEll H/31198 90787483 94,520..40 Subtotal 1212/1998 1M,117.08 p 19,145.45 11 ,487.28 (h) OVerstated input VAT 7,658.17 ACS CHEMICAL1NDUSTRIES 12/18198 04-1286 199414 210,600.00 p 11 ,515.65 Shld. be artlOtri 126,360.10 3 ,8 3 7.2 7 7 ,6 7 8.3 8 84,239:90 p 14,329.64 B. BENEDICTO & SONS 12/1198 04-1307 various 126,67200 p 9 ,789.82 42,210.00 4,539.82 Shld. be amount 84,462.00 p 480.00 BRIGHTON CORP 12122J98 04-1335 1667 157,616.00 p 60.00 Shld. be art'ICXri 107,688.00 420.00 49,928.00 p 20,296.37 2,321,723.33 TOKYU HARDWARE 11./13196 04-1147 57544 5,280.00 p 7,100,487.88 Shld. be amount 660.00 Subtotal Total 4,620.00 p GrandTolal p p p

.. ' GORONES DEVELOPMENT CORPORATION ANNEX 8 INPUT VAT DIS~ll-OWANCES PER COURT'S VERIFICATION FOR TAXABLE YEAR 1999 SUPPLIER DATE EXHIBIT REF. NO. AMOUNT INPUT VAT .. 1ST QUARTER (a) Input VAT ~upported only by Billing Statement, Account Summary, Debit Memo, Debit Note, Provisional Receipt and Delivery Receipt. ARCHANGEL SECURITY 1/15/99 05-19 1498 p 22 ,619.50 p 2,056 .32 ARCHANGEL SECURITY 18,164.40 1,651 .31 ARCHANGEL SECURITY 1/15/99 05-20 1499 7 , 6 4 7 .5 0 ARCHANGEL SECURITY 11 ,309.75 695 .2 3 GLOBE TELECOM 1/15/99 05-17 1487 3 , 5 3 5 .7 5 1 ,028 .16 PLOT 11,052.05 ARCHANGEL SECURITY 1/15/99 05-1 8 1488 8 ,2 7 5 .5 0 321.43 ARCHANGEL SECURITY 8 ,2 7 5 .5 0 1,004.73 ARCHANGEL SECURITY 1/26i99 05-135 23 20 ,5 9 0 .8 0 ARCHANGEL SECURITY 12,063.70 752 .32 ARCHANGEL SECURITY 1/18/99 05-209 05-215 various 24,127.50 752 .32 ARCHANGEL SECURITY 18,363.85 1,871 .89 ARCHANGEL SECURITY 12/31/98 05-444 1560 8,275.40 1,096.70 ARCHANGEL SECURITY 20,765 .3 5 2,193.41 C & C CIVIL WORKS 1/15/99 05-445 1564 3 3 ,726 .0 0 1,669.44 C & C CIVIL WORKS 4 4 ,968.00 752 .31 GLOBE TELECOM 1/15/99 05-446 1565 6,660.85 1,887.76 PHIL FUJI 8 , 3 9 6 .0 0 3,066.00 PLOT 1/31/99 05-448 1613 4,088.00 PLOT 987.80 605.53 PLOT 1/31/99 05-449 1623 1,692.45 763 .2 7 PLOT 1,011 .25 89 .80 PLOT 1/31/99 05-450 1624 2 ,6 9 7 .3 0 153.86 PLOT 91 .93 PLOT 1/31/99 05-451 1625 900.80 245 .21 PLOT 1,705.75 81 .89 PLOT 1/31/99 05-452 1628 155.07 SMART COMMUNICATIONS 9 0 0 .8 0 81 .89 ARCHANGEL SECURITY 1/29/99 05-484 10 900.80 81 .89 C & C CIVIL WORKS 900.80 81 .89 EQUATORIAL SECURITY 2/15/99 05-485 9 466.40 42.40 EQUATORIAL SECURITY 171 ,992.85 15 ,635 .71 GLOBE TELECOM 1/12/99 05-566 23 40,471 .20 3 ,679 .20 JARDINE ABOITIZ 6,864.00 624 .00 JARDINE ABOITIZ 2/12/99 05-643 251628 6,864.00 624.00 JARDINE ABOITIZ 18,703.50 1 ,700 .32 PHIL FUJI 2/18/99 05-629 589938 5,477.00 497 .91 PLOT 21,329.00 1,939.00 Subtotal 2/18/99 05-630 602991 75,602 .6 5 6,872 .97 8,734.65 794 .06 1/18/99 05-631 552733 13,846.95 1,258 .82 670,867.35 p 60,987 .9 5 1/18/99 05-632 554026 2/19/99 05-633 589958 1/2/99 05-634 591251 1/2/99 05-635 604774 1/2/99 05-636 604794 1/2/99 05-637 604879 1/10/99 05-704 22099495 2/28/99 05-920 to 05-929 various 3/11/99 05-981 10 1/27/99 05-1069 6082 1/4/99 05-1070 6084 2/26/99 05-1108 24 3/15/99 05-1124 various 3/15/99 05-1125 various 3/15/99 05-1126 various 3/17/99 05-1217 252744 3/18/99 05-11 99 to 05-1207 various p (b) Input VAT supported by invoices/official receipts not in the name of Gorones Development 1 of 11

Corporation NIPPON TOURIST DEVT 12/22/98 D5 -2 02 77601 p 1,475.10 p 134.10 SMART COMMUNICATIONS Dec-98 D5-292 1,027.40 93.40 BOHOL QUALITY SUPERSTORE 3/13/99 D5-975 21141404 14.50 Subtotal 159.50 8710 2,662.00 p 242.00 p (c) Input VAT with no supporting document CEBU PIONEER AUTO SUPPLY JAN p 1'100.00 p 100.00 EVERCARE PHARMACY JAN 455 .39 ISLAND PHOTO CENTER JAN 5,009.05 KENNY ROGERS JAN 32.05 KENTUCKY FRIED JAN 352 .55 74 .37 MCDONALDS JAN 181.10 NIPPON TOURIST DEVT JAN 818 .00 15.60 PHIL SPRING WATER JAN 386 .37 PILIPINAS SHELL JAN 1 ,992 .10 146.82 POWER AUTO PARTS JAN 1,199.54 PUERTO SERVICIO JAN 171 .60 128.18 SM SUPERMARKET JAN 128.16 TOP GOLD JAN 4,250.10 19.35 UNITED SOUTH DOCKHANDLER~ JAN 59.09 UPTOWN JAN 1,615 .00 16.68 X-COMP COMPUTER JAN 437 .87 YASCOMOTOR JAN 13,194.94 50 .00 4R's ENTRP & PRINTING FEB 181 .82 4R's ENTRP & PRINTING FEB 1,410.00 363.64 4R's ENTRP & PRINTING FEB 363 .64 4R's ENTRP & PRINTING FEB 1,409.75 363 .6 4 CEBU LITE TR,A.DING FEB 72 .73 DYPICOMKTG FEB 212 .85 50 ,668 .18 KANOLA MOTOR CENTER FEB 7,454 .55 KANOLA MOTOR CENTER FEB 650.00 32 .73 KANOLA MOTOR CENTER FEB 43 .64 KANOLA MOTOR CENTER FEB 183.50 12.73 PACIFIC CONSTRUCTION FEB PACIFIC CONSTRUCTION FEB 4 ,816 .55 5.00 UNDALOC CONSTRUCTION FEB 11,263.64 UNDALOC CONSTRUCTION FEB 550.00 12 ,334 .55 UNDALOC CONSTRUCTION FEB 28 ,065 .76 UNDALOC CONSTRUCTION FEB 2,000.00 34 ,562 .00 UNDALOC CONSTRUCTION FEB UNDALOC CONSTRUCTION FEB 4,000.00 8,865 .96 UNDALOC CONSTRUCTION FEB 3,581 .50 UNDALOC CONSTRUCTION FEB 4,000.00 UNDALOC CONSTRUCTION FEB 230.71 UNDALOC CONSTRUCTION FEB 4 ,000 .00 8,045.73 UNDALOC CONSTRUCTION FEB UNDALOC CONSTRUCTION FEB 800.00 92 . 17 UNDALOC CONSTRUCTION FEB 258.30 UNITED AUTOMART FEB 557,350.00 10 ,054 .52 930.47 82 ,000 .00 95.94 360.00 281 .80 8,180.13 4 8 0 .00 27 .09 140.00 55.00 123,900.00 135,680.00 308,723 .35 380,182.00 97,525.55 39,396.50 2,537.80 88 ,503 .00 1,013.90 2,841 .30 110,599.70 10,235.20 1,055.35 3,099.80 89,981.45 298 .00 2 of 11

UNITED AUTOMART FEB 612.00 55 .64 UNITED SOUTH DOCKHANDLER~ FEB 356.95 32.45 WORLDTEL PHILS FEB 3,750.00 340.91 X-COMP COMPUTER FEB 5,400.00 490 .91 ASTRAL CONSTRUCTION MAR 101 ,046.90 9,186.08 B. BENEDICTO & SONS MAR 21 ,715.00 1,974 .09 KENTUCKY FRIED MAR 1,294.00 117.64 UNITED AUTOMART MAR 420.00 38.18 UNITED AUTOMART MAR 2,500 .00 227 .27 Subtotal p 2,225,588.74 p 202,326.31 (d) Input VAT with noV, TIN, TINN or BIR Permit 40 .91 218 .18 AID ELECTRONICS 12/17/98 D5-21 4344 p 450.00 p 140.55 CHRISAN "1RADERS 1/15/99 D5-76 486 MEGALINK TRADING 1/19/99 D5-182 2025 2,400.00 37 .50 MEGALINK TRADING 1/19/99 D5- 183 2026 54.00 MEGALINK TRADING 1/29/99 D5-184 2038 1,546 .00 41 .82 PROGRESSIVE AUTOMART 12/14/98 D5-255 59431 118.90 TEXTRON CORP 1/25/99 D5-300 32421 412 .50 150.00 TONYEQPT 1/22/99 D5-310 123088 34 .36 AR BICADA STORE 1/29/99 D5-442 35655 594 .00 24 .73 AR BICADA STORE 2/11/99 D5-443 35791 81 .82 FORTUNE PRINTING 2/5/99 D5-562 743 460.00 612 .63 GILBROS ENTRP 3/31/99 D5-565 various 6 ,007 .82 GOLDEN GATE REALTY CORP 3/5/99 D5-567 787 1,308.00 82 .73 J3 WATER SUPPLY 8/5/99 D5-575 4979 45 ,454 .55 MOUNTAI~t LINK 2/6/99 D5-618 3768 1,650.00 24 ,363 .64 MOUNTAIN LINK 2/13/99 05-619 376 24 .55 TONYEQPT 2/10/99 D5-728 123121 378 .00 313 .36 TOP GOLD PHILS 1/5/99 D5-729 2574 313 .36 TOP GOLD PHILS 2/13/99 05-730 2937 272.00 400.00 AR BICADA STORE 2/22/99 D5-916 to D5-919 various 30.25 COLOURS PHOTO EXPRESS 2/28/99 D5-1050 26109 900 .00 25,011 .36 DYPICOSONS 3/19/99 D5-1061 11264 25,011 .36 DYPICO SONS 3/19/99 D5-1062 11265 6,739 .00 25,011 .36 DYPICOSONS 3/19/99 D5- 1063 11266 25,011 .36 DY PICO SONS 3/19/99 D5-1064 11267 66,086.00 2 ,204 .56 EASTERN GARMENTS 3/13/99 D5-1065 1266 750.00 ESAMKTG 3/2/99 D5- 1072 5284 910.00 2,781 .82 ESAMKTG 3/2/99 D5-1073 5283 1,350.00 ESAMKTG 3/11/99 D5-1074 5288 500,000.00 30 .00 MEGALINK TRADING 3/12/99 D5-1165 2082 122.73 MEGALINK TRADING 3/22/99 D5- 1166 2090 268,000.00 68 .18 TONY EQPT 3/23/99 D5-1305 123186 45.45 TONY EQPT 3/23/99 D5- 1306 123187 270.00 185,943.84 Subtotal 3 ,4 4 7 .00 7 ,454 .55 71 .36 3 ,447 .00 4 ,4 0 0 .00 332.75 275 ,125.00 275,125.00 275,125.00 275,125.00 24,250.00 8 ,250 .00 30 ,6 0 0 .00 14,850.00 330 .00 1,350.00 750 .00 500.00 p 2,045,382.25 p (e) Non-VAT Invoices/Receipts COMPUTER SALES 1/27/99 D5-79 659 p 82,000.00 p FULLMART TRADERS 1115/99 D5-123 785 .00 1736 3 of 11 @

FULLMART TRADERS 1/21/99 D5-124 1867 6,195 .00 563.18 170.00 15.45 FULLMART TRADERS 1/8/99 D5-125 1771 57.00 5.18 FULLMART TRADERS 1/11/99 D5-126 1786 3,870.00 351 .82 1,685.00 153.18 FULLMART TRADERS 1/23/99 05-127 1872 2,750.00 250 .00 SYNTYCHE COMPUTER 1/20/99 D5-297 2196 825.00 75 .00 4,000.00 363 .64 UBAY ARRASTRE 12/22/98 D5-315 2840 4,000.00 363.64 3,510 .00 319.09 UBAY ARRASTRE 1/26/99 D5-735 3848 450.00 40.91 COMPUTER SALES 3/8/99 D5-1054 831 1,260 .00 114.55 16,267.00 1,478.82 COMPUTER SALES 3/8/99 D5-1055 832 15,082.50 1,371 .14 66,086.00 6 ,007 .82 COMPUTEH SALES 3/15/99 D5-1056 760 208,992.50 p 18,999.33 DB BRAKE BONDING CENTER 3/25/99 D5-1057 2994 15 ,000 .00 82.50 FORTUNE PRINTING 3/17/99 D5-1093 509 14 ,587 .20 FULLMART TRADERS 3/10/99 D5-1094 to D5-1101 various 62 .50 GILARDS ENTRP 3/31/99 D5-1106 804 350 .00 76 .36 GOLDEN GATE REALTY 2/23/99 D5- 1109 776 Subtotal p 2 ,863 .64 3,150.00 (f) Input VAT on sales of services not supported by official receipt 1,431 .82 2,705.05 ABOITIZ & CO. 1/20/99 D5- 1 18880 p 165,000.00 p ABOITIZ & CO. 1/31/99 D5-2 907 .50 43 .60 ABOITIZ & CO. 1/2/99 D5-3 19155 113,374.13 ABOITIZ & CO. 1/31/99 D5-4 160,459.20 ACOLAND INC 1/1/99 D5-5 19014 687 .50 198.75 CEBUANO MOTORS 1/9/99 D5-72 83 .00 CENTRAL PHILS BANDAG 1/22/99 D5-73 19112 3,850.00 40 .00 CENTRAL PHILS BANDAG 1/23/99 D5-74 840.00 CENTRAL PHILS BANDAG 1/22/99 05-75 1614 14,587.20 SAIKOH MOTOR SALES 1/21/99 05-280 31,500.00 15,000.00 SMART COMMUNICATIONS 1/15/99 05-293 13878 34,650.00 UNOALOC CONSTRUCTION 12/31/98 05-316 to 05-339 15,750.00 7 .00 WELLMADE MOTORS 1/28/99 05-405 107963 29,755 .50 31 .27 WELLMAQE MOTORS 1/30/99 D5-406 16.14 WSI TECHMOLOGIES 1/8/99 05-409 108010 479.60 ABOITIZ&CO 2/1/99 D5-430 1,247,115.50 7.00 ABOITIZ &.~0 2/20/99 05-431 107980 350.00 ABOITIZ AIR TRANSPORT 1/22/99 05-432 2,186.25 750.00 ABOITIZ AIR TRANSPORT 1/28/99 05-433 6778 913.00 2,290 .91 ABOITIZ AIR TRANSPORT 2/2/99 D5-434 440.00 572 .73 ABOITIZ AIR TRANSPORT 2/2/99 05-435 22315974 3,436 .36 ACOLANO INC 2/1/99 D5-436 160,459.20 3,150.00 ACOLANDINC 2/1/99 D5-437 various 165 ,000 .00 3,436.36 CENTRAL PHILS BANOAG 1/21/99 05-516 1,431 .82 CENTRAL PHILS !3ANOAG 1/20/99 D5-517 6246 77.00 286 .36 CENTRAL PHILS BANDAG 2/5/99 D5-518 344 .00 282.82 CENTRAL PHILS BANOAG 2/5/99 05-519 6263 177.55 15,242.40 CENTRAL PHILS BANQAG 2/18/99 05-520 935 .00 CENTRAL PHILS BANOAG 2/9/99 05-521 4746 77.00 CENTRAL f:HILS BANOAG 2/17/99 05-522 3,850 .00 CENTRAL PHILS BANDAG 2/23/99 D5-523 19046 8 ,250.00 FOR CONSTRUCTION 2/9/99 05-559 25,200.00 METAPHIL INC. 1/31/99 05-604 19251 6,300.00 37,800 .00 53588 34,650.00 37 ,800 .00 53761 15,750.00 3,150.00 53889 3,111 .00 167,666.40 53962 10,285.00 1648 1649 107868 107827 108680 108713 109071 108855 10932 10964 21 1998 4 of 11

METAPHIL INC. 1/31/99 05-605 1990 4,800 .00 436.36 UBIXCORP 1/3/99 05-736 83316 1,627.90 147.99 UNDALOC CONSTRUCTION 2/2/99 05-737 1619 495 ,544 .15 45 ,049.47 UNDAL.OC CONSTRUCTION 2/3/99 05-738 1618 2 ,999 .60 272 .69 UNDAI.,OC,q)NSTRUCTION 2/3/99 05-739 1620 8,775.25 797 .75 UNDALOC -coNSTRUCTION 2/4/99 05-740 1621 90 .56 2/3/99 05-741 1622 996.15 4 ,990 .26 �. ,. 2/4/99 05-742 1623 54,892.85 11 ,791 .31 2/8/99 05-743 1624 129,704.40 2,411 .11 UNDALOC CONSTRUCTION 2/9/99 05-744 1625 26,522 .20 171 .04 UNDALOC CONSTRUCTION 2/12/99 05-745 1627 9 ,713 .06 UNDALOC CONST~UCTION 2/12/99 05-746 1628 1,881 .45 107.44 UNDALOC CGNSTRUCTION 2/12/99 05-747 1629 106,843.65 812.42 UNDALOC CONSTRUCTION 2/12/99 05-748 1630 6 ,865 .75 UNDALOC CONSTRUCTION 2/18/99 05-749 1626 1,181 .85 44 ,147.95 UNDALOC CONSTRUCTION 2/18/99 05-750 1633 8 ,936 .60 9 ,557 .37 UNDALQC CONSTRUCTION 2/17/99 05-751 1632 75 ,523 .25 887 .58 UNDALOC CONSTRUCTION 2/19/99 05-752 1634 485 ,627.45 858 .18 UNDALOC CONSTRUCTION 2/19/99 05-753 1635 105,130.50 56 .05 UNDALOC CONSTRUCTION various 05-900 various 9,763.40 4,582 .50 UNDALOC _s::ONSTRUCTION various 05-901 various 9 ,440 .00 34 ,087 .20 UNDALOC CONSTRUCTION 2/12/99 05-902 54076 59.38 ABOITIZ&CO 2/20/99 05-903 54769 616.55 16.14 ABOITIZ&CO 2/23/99 05-904 55028 50,407.50 ABOITIZ AIR TRANSPORT 3/1/99 05-907 1679 374,959.20 3.50 ABOITIZ AIR TRANSPORT 3/1/99 05-908 1680 350.00 ABOITIZ AIR TRANSPORT 3/20/99 05-945 401 653 .20 250.00 ACOLAND INC 3/4/99 05-946 12141 177.55 4,505 .18 ACOLAND INC 3/4/99 05-947 12427 3,620.15 BALAMBAN CONSTRUCTION 2/26/99 05-1091 38.50 3,606.76 BALAMBAN CONSTRUCTION 2/28/99 05-1167 22 3,850.00 32 ,587.20 BALAMBAN CONSTRUCTION 2/8/99 05-1194 2089 2,750.00 1,105.00 FOR CONSTRUCTION 2/3/99 05-1195 1160 49,557.00 77 ,815 .60 METAPHIL INC 2/1/99 05-1252 to 05-1256 1170 39,821 .60 48 ,910 .00 PEARLENTRP 2/28/99 05-1316 various 39,674.40 32 ,068 .58 PEARLENTRP various 05-1317 to 05-1339 83422 358 ,459 .20 137.78 RARE CRAFT INDUSTRIES 3/9/99 05-1424 various 12,155.00 349 ,607.41 UBIX CORP 3/29/99 05-1426 38303 855,971 .60 2,042 .91 UNDALOC CONSTRUCTION 6542 538 ,010.00 440.00 VIRGINIA INTL 352 ,754.40 950,821 .55 WELLMADE MOTORS 1,515.60 1,419,320 .98 Subtotal 3,845,681 .55 Total 22 ,472 .00 4,840.00 p 10,459,036.70 p p 15,612,529.54 p 2ND QUARTER (a) Input VAT supporte(l only by Billing Statement, Account Summary, Debit Memo, Debit Note, Provisional Receipt and Delivery Receipt. ARCHANGEL SECURITY 4/31/99 06-22 to 06-28 various p 160,743.90 p 14 ,613 .08 DOMINION INSURANCE 4/25/99 06-133 11 ,059.65 JARDINE ABOITIZ 4/20/99 06-220 102576 121 ,656.15 JARDINE ABOITIZ 5/4/99 06-221 79 ,580 .40 7 ,234 .58 PLOT 3/8/99 various 14 ,239 .95 1, 294 .54 06-336 to Dp-345 41 ,457.05 3,768.82 11750 various 5 of 11

SMART COMMUNICATIONS 3/15/99 D6-415 24245536 1,442.65 131 .15 ALESNA SECURITY 16,551 .00 1,504 .64 ARCHANGEL SECURITY 5/28/99 06-1156 4747/26 141 ,880.75 12,898.25 GLOBE TELECOM 2,164.70 GLOBE TELECOM various 06-1169 to D6-1172 various 196.79 GLOBE TELECOM 5,984 .00 544 .00 JARDINE ABOITIZ 5/12/99 06-1379 27 2,193.50 199.41 JARDINE ABOITIZ 68 ,755 .15 6,250.47 PLOT 5/10/99 0 6- 1380 2 227 ,363 .50 20 ,669.41 SMART COMMUNICATIONS 8,987.80 817.07 Subtotal 6/12/99 D6-1381 28 1,920.70 174.61 894,921.20 p 81,356.47 6/22/99 D6-1393 various 10/25/97 06-1394 6581 6/18/99 D6-1460/1 various 5/15/99 D6-1542/3 various p (b) Input VAT supported by invoices/official receipts not in the name of Gorones Development Corporation APL TRADING 5/20/99 06-1159 9874 p 550.00 p 50.00 PLAZA MARCELA 517/99 D6- 1479 200 .00 18.18 WATERFRONT CEBU CITY 4/21/99 D6-1724 37974 11,628.00 1,057.09 Subtotal 12,378.00 p 1,125.27 various p (c) Input VAT with no supporting document ALTURAS SUPERMARKET APR p 354.50 p 32 .23 BRIGHTSUN CORP APR 71,751 .27 CEBU INFINITY APR 789,264 .00 EVERCARE PHARMACY APR 182.18 GERONGCO CONSTRUCTION APR 2,004 .00 219 .55 MAXIMAEQPT APR 13 ,234 .90 MONARKEQPT APR 2,415 .00 138.73 SMART COMMUNICATIONS APR 757 .80 ABOITIZ AIR TRANSPORT JUN 145,583.90 127.60 ARCHANGEL SECURITY JUN BRIGHTSUN CORP JUN 1,526.00 83.39 BRILLIANCE TRUCKING JUN 3,515.33 GLOBE TELECOM JUN 8,335.80 16 ,766 .38 GLOBE TELECOM JUN 7,234.40 LUVIMIN PORT SERVICES JUN 1,403.60 PLOT JUN 449.46 TALIBON ARRASTRE JUN 917.30 189.11 UNITED AUTOMART JUN 20.00 UNITED AUTOMART JUN 38,668 .65 381 .74 Subtotal 28 . 18 184,430.20 1,615.45 2 ,737 .27 7 9 ,578.40 119,464.97 4 ,944 .05 2,080.20 220.00 4 ,199.15 310 .00 17,770.00 30,110.00 p 1,314,114.75 p (d) Input VAT with noV, TIN, TINN or BIR Permit 4R'S ENT 6/1/99 06-1 159 p 3,050.00 p 277.27 AR BICADA STORE 4/8/99 06-21 14.73 DYPICOSONS 6/29/99 06-138 36642 162.00 DY PICO SONS 7/20/99 06-139 36 ,222 .9 1 ESAMKTG 4/20/99 0 6- 149 14803 398,452 .00 36 ,229.36 ESAMKTG 4/20/99 D6-150 ESAMKTG 4/20/99 D6- 151 14804 398,523.00 1,272.73 ESAMKTG 4/20/99 D6-152 718 .18 5312 14 ,000 .00 2,190.91 5313 7,900.00 3,172 .73 5315 24,100.00 5316 34 ,900 .00 6~

AR BICADA STORE 5/18/99 06-1160 to 06-1168 various 2,672.00 242 .89 CEBU GRAND PRIX 3,900.00 354 .55 ESAMKTG 6/15/99 06-1275 3659 31,050.00 2,822 .73 ESAMKTG 34,000.00 3,090.91 MEGALINK TRADING 6/14/99 06-1356 5347 5,842.00 531 .09 Subtotal 958,551 .00 p 87,140 .99 6/23/99 0 6- 1357 5351 706 .64 6/22/99 06-1430 to 06-1432 various 32,240 .71 p 240 .00 (e) Non-VAT Invoices/Receipts 33,187.35 FULLMART TRADERS 4/7/99 06-195 to 06-200 various p 7,773.00 p 40,464.60 FOR CONSTRUCTION 354,647.80 102.21 FULLMART TRADERS 5/24/99 06-1363 288 Subtotal 2,640 .00 31 ,550.73 various 06-1367 to 06-1370 various 365,060.80 p 56 ,407 .29 p 14.86 (f) Input VAT on sales of services not supported by official receipt 99 ,865 .20 ABOITIZ&CO various 06-4 to 06-1 0 various p 445,110.60 p 3,160.50 ABOITIZ AIR TRANSPORT various 06-11 to 06-13 various 3,066.00 BALAMBAN CONSTRUCTION various 06-32 to D-39 various 1,124.35 132,751.42 FOR CONSTRUCTION various 06-187 to 06-191 various 30 ,809 .70 MULTI STORE 3/25/99 397713 347 ,058 .00 PEARLENTRP 3/11/99 06-319 600 .00 RARE CRAFT INDUSTRIES 3/26/99 06-334 1175 620,480.20 1,845 .45 RARE CRAFT INDUSTRIES 4/13/99 06-386 32 UNDALOC CONSTRUCTION 4/6/99 06-387 33 163.45 83.43 ABOITIZ& CO various 06-455 to 06-473 20,183 .04 ACOLAND INC 6/1/99 06-1142 various 1,098,517.20 31,161 .93 ASTIRENG'G 6/25/99 06-1152 various COLOURS FOTO SHOP various 06-1 173 1788/89 34 ,765 .50 7 ,884 .00 FOR CONSTRUCTION 6/7/99 06-1328 to 06-1330 18.46 FOR CONSTRUCTION 6/24/99 06-1362 1644 33,726.00 FOR CONSTRUCTION 6/24/99 06-1364 various 155,247.61 FLORO BLUE PRINTING 6/2199 06-1365 1,460,265 .65 615,216 .43 UNDALOC CONSTRUCTION various 06-1366 30 937,491.48 Subtotal 06-1587 to 06-1611 33 338,906 .70 Total 32 256 .82 38647 6,600 .00 22 ,893.59 various 20,300.00 420 .00 34 ,214 .23 917.75 3,318.18 222,013 .45 1,100.00 1,596 .16 342,781.25 26 ,220 .81 1,181 .82 86,724.00 338 .28 203 . 10 1,707 ,723 .85 p 6,767,381.05 p p 10,312,406.80 p 3RD QUARTER (a) Input VAT supported on ly py B illing Statement, Account Summary, Debit Memo, Debit Note, Provisional Receipt and Delivery Receipt. 4R'S ENTRP 7/15/99 07-2 various p 2,825.00 p ARCHANGEL SECURITY 6/30/99 07-54 to 07-66 251,829 .50 AUSTRALIAN WINE 7/20/99 various C & C CIVIL WORKS various DR 4 ,620 .00 EAST PACIFIC MOTORS 7/31/99 07-105 to 07-111 None 376,356.55 EQUATOR KNIGHTS 7/2/99 GLOBE TELECOM various 07-191 various 36 ,500 .00 JARDINE ABOTIZ various 07-199 12,100.00 MAXICRETE TECH 7/29/99 07-214 to 07-217 244 17,557.75 PLOT 7/18/99 07-235 to D-237 288,428.90 07-265 115 13,000.00 0 7 -3 04 various 3,721 .10 various 80 778735

SMART COMMUNICATIONS 7/1/99 07-273 91672619 651 .20 59 .20 ARCHANGEL SECURITY 238,863.25 21 ,714.85 BETONVALREADYCONCRETE various 07-1046 to 07-1053 various C & C CIVIL WORKS 10,000.00 909.09 DOMINION INSURANCE 9/21/99 07-1070 7691 359,015.95 32 ,637 .81 PHIL FUJI PLOT 9/27/99 0-1086 various 5,278.50 479.87 SMART COMMUNICATIONS 11,475.10 1,043 .19 Subtotal 8/20/99 07-1156 109485 2,165.15 196.83 9/23/99 07-1280 318326 1,357.30 123.39 1,635,745.25 p 148,704.12 9/24/99 07-1278 392845 9/29/99 07-1354 4663807 p (b) Input VAT supported by invoices/official receipts not in the name of Gorones Development Corporation GLOBE TELECOM 6/20/99 07-213 21881768 p 825.00 p 75 .00 BGY ENTRP 1,500 .00 136.36 BOYWIN CONSTRUCTION 9/10/99 07-1071 867215 MAJESTIC CHINESE CUISINE 200 .00 18 .18 MANDAUE RELIANCE 8/31/99 07-1073 28922 992.50 90 .23 NATIONAL BOOKSTORE 839.90 76 .35 SM SUPERMARKET 9/1/99 07-1221 215855 886.75 80 .61 YOUNG AUTO SUPPLY 2,637.20 239 .74 Subtotal 8/21/99 07-1222 6068 315.00 28 .64 8,196.35 p 745.11 3/27/99 07-1261 to 07-1263 various 9/18/99 07-1350 to 07-1353 various 8/26/99 07-1501 85363 p (c) Input VAT with no supporting document B. BENEDICTO & SONS JUL p 798.00 p 72 .55 CEBU STEEL CORP JUL 9,499.50 CENTRAL LUMBER JUL 104,494.50 SOUTHERN INDL JUL 470 .91 SPEED MASTER JUL 5,180 .00 3 ,188 .19 TALIBON ARRASTRE JUL AARTRADERS SEP 35 ,070 .00 645.45 CEBU STEEL CORP SEP 13.56 PLOT SEP 7 ,100 .00 Z & S FERRY SERVICES SEP 1,272 .73 Subtotal 149.15 30,261 .69 14 ,000 .00 234.60 6.64 332,878.60 45,665.82 2 ,5 8 0 .6 0 70.00 p 502,320.85 p (d) Input VAT with noV, TIN, TINN or BIR Permit AR BICADA STORE 7/8/99 07-40 to 07-53 various p 8,239.00 p 749 .00 DYPICOSONS 6/26/99 07-187 to 07-190 various 158,156.26 ESAMKTG 6/30/99 07-200 to 07-202 various 1,739,718.75 MEGALINK TRADING 7/22/99 2242 5 ,587 .27 SEA PHIL NAVIGATORS 712199 07-271 61,460.00 4 5 .00 AR BICADA STORE 917/99 07-263 1725 ESAMKTG various 07-1041 to 07-1045 various 495 .00 6 ,818 . 19 MEGALINK TRADING 9/14/99 07-1166 to 07-1170 various 202.40 SAIKOH MOTORS 9/16/99 07-1229 to 07-1230 various 75 ,000.10 SAIKOH MOTORS 9/20/99 07-1340 3322 6 ,722 .71 Subtotal 07-1341 3324 2,226.50 82 .50 73 ,950 .0 0 838 .78 81 .82 907.50 179,283.93 9 ,226 .56 900 .00 p 1,972,123.41 p (e) Input VAT on sales of services not supported by official receipt 8 of 11

ABOITIZ & CO various 07-5 to 07-10 various p 365,400.20 p 33 ,218.20 ACOLAND INC 7/1/99 07-18 1818/9 600 .00 ASTIRENG'G 7/20/99 07-68 1692 6,600.00 363.64 BAlAMBAN CONSTRUCTION various various FOR CONSTRUCTION 7/14/99 07-87 to 07-89 34/35 4,000.00 13,501 .28 HI-SPEED REBUILDERS 7/16/99 07-205 3214 39 ,355 .56 METAPHIL INC 6/30/99 07-220 2797 148,514.00 PEARLENTRP 5/31/99 07-272 1190 350 .00 RARE CRAFT INDUSTRIES various 07-301 various 432,911 .15 68 .19 TOYOTACEBU 7/1/99 11209 UBIXCORP 6/30/99 07-250 to 07-252 83857 3,850.00 121,484.50 UNDALOC CONSTRUCTION various 07-310 various 15,874.26 ABOITIZ&CO various various 750.10 79 .09 ABOITIZ AIR TRANSPORT various No exhibit no. various 174.64 ACOLAND INC 8/1/99 07-323 to 07-352 1887/8 1,336,329 .50 BALAMBAN CONSTRUCTION various 07-1010 to 07-1016 various 335 ,055 .87 COLOURS FOTO SHOP SEP 07-1019 to 07-1023 various 174,616 .85 30,482 .20 FOR CONSTRUCTION SEP various 58 .26 HI-SPEED REBUILDERS SEP 07-1027 various 869.99 600 .00 METAPHIL INC SEP 07-1060 to 07-1061 various 9,068 .18 RARE CRAFT INDUSTRIES SEP 07-1148 to 07-1150 various 1,921 .00 65 .11 UBIXCORP 9/8/99 07-1177 to 07-1179 2382 56,714.56 UNDALOC CONSTRUCTION various 07-1186 to 07-1189 various 3,685,614.55 728 .19 Subtotal 07-1231 to 07-1233 2,958 .19 Total 07-1334 to 07-1336 335,304.20 19,691 .19 441.81 07-1379 640 .85 07-1381 to 07-1404 279 ,135.23 6,600 .00 960,068.15 1,334,467.13 99,749 .95 716 .30 623 ,860 .15 8,010.00 32 ,540 .10 216 ,603.10 4,860.00 3,070,487.55 p 10,560,749.54 p p 14,679,135.40 p 4TH QUARTER (a) Input VAT suppo rted only by Bil!in!:J Statem ent, A ccount Summary, Debit Memo, Debit Note, Prov isional Receipt and Deliv ery Receipt. 4R'S ENTRP 11/10/99 08-603 85 p 1,200.00 p 109.09 ABOITIZ ONE, INC various 279.00 25 .36 AJLSURPLUS 11/9/99 08-612 to 08-617 various 10,909.09 ARCHANGEL SECURITY various 120 ,000 .00 18,102.51 CEBU WORLDWIDE 11/22/99 08-621 4154 199,127.60 669 .05 DOMINION INSURANCE various 12,333.95 DYPICOMKTG various 08-628 to 08-637 various 7 ,359 .50 15,340.91 EQUATOR. KNIGHTS 10/29/99 135,673.45 1,100.00 ISLA COMMUNICATIONS 10/1/99 08-704 5416 168,750.00 119.20 PHIL FUJI 11/18/99 896 .64 PLOT 11/24/99 08-732 to 08-734 various 12,100.00 340 .37 4R'S ENTRP 12/9/99 1,311 .20 218.18 ARCHANGEL SECURITY various 08-735 various 9,863.00 26,111 .63 C & C CIVIL WORKS various 3,744.05 34,274 .95 DOMINION INSURANCE various 08-740 2019 2,400 .00 5,931 .31 PHIL FUJI 12/16/99 896 .12 PLOT various 08-763 991002563914 287,227.90 540.45 Subtotal 377,024.40 127,918.81 08-830 326018 65 ,244 .50 08-827 to 08-828 various 9,857 .30 5,944.85 0 8 - 106 121 1,407,1 06.75 p 08-1040 to 08-1054 various 08-1 090 to 08-1 092 various 08-1131 to 08-1133 various 08-1210 338328 08-1207 to 08-1209 various p (b) Input VAT supported by invoices/official receipts not in the name of Gorones Development Corporation 9 of 11

ALJ MDSG 10/21/99 D8-623 13993 p 125.20 p 11 .38 ALJ MDSG 11/5/99 D8-624 125.20 11 .38 BOB'S PLACE 11/20/99 D8-667 14265 483.45 43 .95 CHOWKING 11/16/99 D8-713 127.00 11 .55 COLOURS FOTO SHOP 10/20/99 D8-722 to D8-727 8148 2 ,2 3 8 .8 0 203 .52 COPYLANDIA 11/18/99 D8-729 59.95 FCAACALTEX 11/6/99 D8-749 3691 130.00 5.45 GAISANO INC various D8-755 to D8-756 2 , 1 8 6.2 5 11 .82 ISLA COMMUNICATIONS 11/29/99 D8-764 various 1,996.50 198.75 JOVEN'S GRILL 11/21/99 D8-766 560.00 181 .50 JUNREX CELLPHONE 10/29/99 D8-769 66255 200 .0 0 50 .91 JY SQUARE various D8-772 to D8-775 1,781 .20 18.18 LBTOLEDO 11/17/99 D8-780 29214 86 .4 5 161 .92 MAX'S 11/18/99 D8-787 1,481 .00 MERCURY DRUG 11/17/99 D8-790 various 135.00 7 .86 MULTI STORE 11/9/99 D8-807 149.25 134.64 NATIONAL BOOKSTORE various D8-809 to D8-815 498274 3,492.20 PRINCE WA~EHOUSE 11/14/99 D8-844 927.30 12.27 R & M PRESERVES 11/11/99 D8-849 14834 366 .9 5 13.57 ROSE PHARMACY various D8-869/70 769.20 317.47 RS PETRON 11/17/99 D8-871 18683 223.10 84 .3 0 SEIKO SERVICE CENTER 10/29/99 D8-881 300.00 33.36 SHAKEY'S 11/5/99 D8-882 various 499.50 69 .9 3 SILANGAN RESTAURANT 11/19/99 D8-883 311 .50 20 .28 SM SUPERMAR~ET various D8-884/5 7033 3 ,6 3 7 . 4 5 27 .27 SMALL WONDERS MDSE 11/12/99 D8-886 147.20 45.41 TALK OF THE TOWN REST. 11/18/99 D8-903 12582 2 , 4 4 0 .0 0 2 8 .32 ULBINTL 11/3/99 D8-916 150.00 330.68 WHITEGOLD INC 10/21/99 D8-993 to D8-995 292838 3 ,6 1 3 . 4 0 13.38 MOTORCARE GEN MDSE 11/17/99 D8-1193 204.00 221 .82 Subtotal 457637 28,947.05 p 13.64 328.53 various 285.55 p 18.55 126,264.60 2,631 .59 141197 1,791 .00 25.96 123564/6 441.00 11,478.60 various 2 ,999 .9 0 162.82 940.00 40 .0 9 4780 160.00 110.00 272 .72 83201 85.45 3 5 ,5 0 0 .0 0 14.55 40003886 1,260.00 10.00 2 ,940 .0 0 70679 25.00 3 ,22 7 .2 7 114.55 various 172,717.05 p 267 .2 8 2 .27 79972 5,456.40 p 5,001 .92 15,701 .56 9844 496.04 8697 454 .72 various 58721 p (c) Input VAT with no supporting document DEO SUI?.ER SHELL NOV p DOMINION INSURANCE NOV JARDINE ABQITIZ NOV MULTI STORE NOV NORTHERN STAR NOV TALIBON ARRASTRE NOV TRI-ACE SYSTEMS NOV AL'J MDSG DEC ESAMKTG DEC JUASING HARDWARE DEC TOLEXENTRP DEC WASHINGTON ELECTRICAL DEC Subtotal p (d) Input VAT with noV, TIN, TINN or BIR Permit AR BICADA STORE various D8-626 to D8-636 various p BEBECO PHILS 12/5/99 D8-656 10262 10 of 11

CELL BRAKE LINING 11/13/99 08-709 2925 300 .00 27 .27 ESA MKTG 74 ,050.00 6,731.82 GIGI PARTS 11/15/99 08-741 to 08-743 various AR BICADA STORE 450 .00 40 91 CIVIC MOSG 10/26/99 08-760 52261 1,476 .00 134 18 ECHO ELECTRICAL 145 ,356.00 13.21 4.18 EQUATOR KNIGHTS various 08-1 036 to 08-1 039 various 16 ,840.00 1,530.91 ESA MKTG 24,200 .00 2.200 00 Subtotal 12/14/99 08-1126 14731 26,750 .00 2,431.82 299,880.32 p 27 ,261 .85 12/ 16/ 99 08-1134 33680 72.73 various 08-1135 to 08-1136 various 140.55 61,727 27 various D8-1137 to 08-1138 various 5.590 91 p 177 29 (e) Non-VAT Invoices/Receipts 11/23/99 08-753 1557 p 800 .00 p 2 .19 10/15/99 08-754 1,546 .00 6,007 .82 FORTUNE PRINTING PRESS 11/5/99 08-805 982 679, 000 .00 73 ,718.76 FULLMART TRADERS 11/6/99 D8-806 61,500 00 MOUNTAIN LINK MKTG various NO Exhibit no. 59 1,950 .20 30,219 70 MOUNTAIN LINK MKTG 9/13/99 08-1152 642 00 FORTUNE ?RINTING PRESS 08-1156 58 24.10 FULLMART TRADERS 1/7/99 66 ,086 .03 7 439 74 GOLDEN GATE REALTY 1570/6 810,906.33 p 323 19 Subtotal 99 68 864 87 ,587 30 766 35 081 .22 p 642 .00 3.735 82 (f) Input VAT on sales of services not supported by official receipt 11 041 4.62 ABOITIZ & CO 11/2/99 08-607 to 08-611 various p 332.416 .70 p 6 19 ACOLAND INC 50 00 BALAMBAN CONSTRUCTION 11/1/99 0 8 -619 1964/5 7,062 .00 197 09 METAPHIL INC 924 .371 .52 UBIX CORP 10/27/99 08-654 to 08-655 vario us 81 ,837.15 222 .00 UNDALOC CONSTRUCTION 1,201 ,032 .07 ABOITIZ & SO various D8-791 to 08-792 3554/3665 3,555 .10 1,448 , 264 .6 4 ACOLAND INC 5,139,544.23 BALAMBAN CONSTRUCTION 10/31/99 D8-9 15 84292 1,096.50 FOR CONSTRUCTION METAPHIL INC various 08-917 to 08-934 various 963 ,460.40 MITECH UBIX CORP various D8-1022 to 08-1028 various 385,893.40 UNDALOC CONSTRUCTION WELLMADE MOTORS 12/1/99 08-1031 2001/2 7,062 .00 Subtotal Total 12/2/99 08-1076 484 41 ,094 .00 Grand Total 11/15/99 D8-1144 to 08-1149 various 1 214 ,560 .85 11/30/99 08-1177 3822 68 .19 11/24/99 08-1187 3458 550 .00 12/29/99 08-1231 to D8-1232 various 2,168 .06 various 08-1233 to 08-1292 various 10,168,086.70 12/4/99 08-1356 7891 2,442 .00 p 13,211,353.05 p p 15,930,910 .55 p p 56,534,982 .29 p ~~of11