Section 8
SEC. 8. The grantee, its successors or assigns, shall be liable to pay the same taxes on its real estate, buildings and personal property, exclusive of this franchise, as other persons or corporations are now or hereafter may be required by law to pay. In addition, the grantee, its successors or assigns, shall pay to the Treasurer of the Philippines each year, within thirty days after the audit and approval of the accounts as prescribed in Section seven of this Act, five per centum of all gross receipts of its satellite transmission business transacted under this franchise by the grantee, its successors or assigns, and the said percentage shall be in lieu of all other taxes. The grantee shall, from the time it was organized and for the duration of this franchise, be exempt from the payment of customs duties, tariffs, and charges on the machineries, equipment, supplies, and spare parts that shall be imported for the construction and maintenance of the permanent earth station or stations.