Question & AnswerQ&A (Republic Act No. 9342)
Republic Act No. 9342 amends Republic Act No. 8996 to grant End Time Mission Broadcasting Service, Inc. a franchise to construct, install, establish, operate, and maintain radio and television broadcasting stations in the Philippines for religious, educational, and commercial purposes.
The franchise allows the company to operate for religious, educational, and commercial purposes in the public interest.
The franchise covers the use of microwave, satellite, or any other means including new technologies in television and radio systems with the corresponding technological auxiliaries and facilities, special broadcast, program distribution services, and relay stations.
The grantee must offer at least thirty percent (30%) of its outstanding capital stock in any securities exchange in the Philippines within five years from the time it becomes a national broadcasting network, defined as operating three or more radio and/or television stations. Noncompliance results in automatic revocation of the franchise.
The grantee, its successors, or assigns are subject to all taxes, duties, fees, charges, and other impositions under the National Internal Revenue Code of 1997, as amended, and other applicable laws. They must file returns with the city or municipality of their principal business location and pay the taxes due to the Commissioner of Internal Revenue or authorized representatives.
The law states that nothing in it shall be construed as repealing any specific tax exemptions, incentives, or privileges granted under any relevant law, and all rights and exemptions accorded to existing and future broadcasting stations shall also be extended to the grantee.
Failure to offer at least 30% of outstanding capital stock within five years after becoming a national broadcasting network shall result in the franchise being ipso facto revoked.
A national broadcasting network is defined as one that operates three or more radio and/or television stations.
The act took effect fifteen (15) days after its publication in at least two newspapers of general circulation in the Philippines.
The title was amended to 'An Act Granting the End Time Mission Broadcasting Service, Inc. a Franchise to Construct, Install, Establish, Operate and Maintain for Educational and Commercial Purposes Radio and Television Broadcasting Stations in the Philippines.'