Section 6
SEC. 6. In consideration of the franchise and rights hereby granted, the Grantee shall pay to the Republic of the Philippines during the life of this franchise a tax of one-half per cent of gross earnings derived by the Grantee from its operation under this franchise and which originate from the Philippines. Such tax shall be due and payable annually within ten days after the audit and approval of the accounts by the Commission on Audit as prescribed in Section 11 hereof and shall be in lieu of all taxes, assessments, charges, fees, or levies of any kind, nature, or description, levied, established or collected by any municipal, provincial, or national authority including but not limited to customs duties, taxes, wharfage and all other charges, imports, or fees on any and all equipments, machineries, vehicles, and spare parts needed in the installation and/or operation of the business of the Grantee, except that the Grantee shall pay the tax on its real property in conformity with existing law.