On November 25, 2010, The Bureau of Internal Revenue issued Revenue Regulations No.

15-2010 amending certain Provisions of Revenue Regulations No. 21-2002, as Amended, Implementing Section 6 (H) of the Tax Code of 1997, authorizing the Commissioner of Internal Revenue to prescribe additional procedural and/or documentary requirements in connection with the preparation and submission of financial statements accompanying the tax returns. In addition to the disclosures mandated under the Philippine Financial Reporting Standards, and such other standards and/or conventions as may heretofore be adopted, the Notes to Financial Statements shall include information on taxes, duties and license fees paid or accrued during the taxable year as follows: Value Added Tax (VAT) Our Companys VAT payable as of December 31, 2010 are computed as follows:
Gross Amount of Revenues Subject to 12% VAT Sales of goods Sales of services Sales of property/equipment Lease of property/equipment Premiums (non-life) Storage and warehousing Others P P

Output VAT -

Zero-rated sales Sale of goods Sales of services

Exempt sales Sale of goods Sales of services P

{Kindly disclose legal basis for zero rated and exempt sales or transactions.} {If the amount of gross sales or service income indicated in this note is different from the amount declared in the statements of comprehensive income kindly indicate the reason}

2010 VAT Input Taxe s Beginning of the year Current year's purchases / payments for: Goods for resale Goods other than for resale or manufacture Capital goods subject to amortization Capital goods not subject to amortization Services lodged under cost of goods sold Services lodged under other accounts Total Claims for tax credit/refund and other adjustments Balance at the end of the year P -

2010 VAT output tax declared for the year Less: Balance of VAT input tax at the end of the year Value Added Tax Payable for the year 2010 Less: VAT Payments for the current year 1st quarter 2nd quarter 3rd quarter October and November VAT still due and payable P -

Landed Cost, Custom Duties and Tariffs Total landed cost, custom duties and tariffs paid and accrued related to our importation amounts to P___________ for the year ended December 31, 2010 as follows:
2010 Accrued - P - P - P - P

Paid Landed cost on importation Custom duties and tariff fees P P

Total -

Excise Taxes This account consists of:

2010 Accrued - P - P - P - P

Paid (Kindly indicate breakdown of excise taxes) P P

Total -

Documentary Stamp Taxes This account consists of:

2010 Accrued - P - P - P - P

Paid (Kindly indicate breakdown of documentary stamp taxes) P P

Total -

Other Taxes, Local and National This account consists of taxes and licenses paid and accrued for the year ended December 31, 2010 as follows:
2010 Accrued - P - P - P - P

Paid Taxes and Licenses Charged to Operating Expenses Business permit Residence tax - basic and additional Motor vehicle registration fees Barangay clearance Annual VAT registration fee Other licenses Taxes and Licenses Charged to Cost of sales P

Total -

Withholding Taxes

Our Companys withholding tax for the year ended December 31, 2010 is as follows: i. Withholding Tax on Compensation and Fringe benefits
2010 Total withholding and fringe benefit tax payable for the year Less: Payments made from January to November 2010 Withholding tax and fringe benefit tax still due and payable P -

ii. Expanded Withholding Tax

2010 Total expanded withholding tax payable for the year Less: Payments made from January November 2010 Withholding tax still due and payable P -

iii. Final Withholding Tax

2010 Total final withholding tax payable for the year Less: Payments made from January November 2010 Withholding tax still due and payable P -

iv. Creditable Withholding Tax

2010 Total creditable withholding tax payable for the year Less: Creditable withholding tax applied for the current year Creditable withholding tax balance P -

Deficiency Tax Assessment

i. Tax Assessments Our Company received the following Final Assessment Notices (FAN):
Year 2009 2008 2007 Amount P -

ii. Tax Cases (Kindly disclose description as to the Companys current tax cases)