Section 9
SEC. 9. The grantee shall be liable to pay the same taxes on his real estate, buildings, plant (not including roadbed and track, rolling stock, poles, and wires), machinery, and personal property as other persons arc now or hereafter by law may be required to pay. The grantee shall further pay to the Treasurer of the Philippine Islands two and one-half per centum of the fares collected, tickets sold, and gross receipts received from the sale of electric light, heat, and power, and two and one-half per centum of the gross receipts for transportation of freight, baggage, and express. The said percentage shall be due and payable monthly, and shall be in lieu of all taxes and assessments whatsoever, under and by whatsoever authority, upon the privileges, earnings, income, franchises, roadbed, track, rolling stock, poles, and wires of the grantee, from which taxes and assessments the grantee is hereby expressly exempted.