Amendment to End Time Mission Broadcasting Franchise

The grantee and its successors or assigns are subject to all taxes, duties, fees, charges, and other impositions as provided under the National Internal Revenue Code of 1997 and other relevant laws.
The law does not repeal existing specific tax exemptions, incentives, or privileges previously granted by other laws.
All rights, privileges, benefits, and exemptions accorded to other existing and future broadcasting stations are extended to the grantee.
The grantee must file tax returns with the city or municipality of its principal business location.
Taxes are to be paid to the Commissioner of Internal Revenue or authorized representative.
Tax returns and payments are subject to audit by the Bureau of Internal Revenue.

To encourage public participation in public utilities, the grantee is required to offer at least thirty percent (30%) of its outstanding capital stock to the public through any securities exchange in the Philippines.
This offering must occur within five years after the grantee attains the status of a national broadcasting network.
National broadcasting network is defined as operating three or more radio and/or television stations.
Noncompliance with this requirement leads to automatic revocation (ipso facto) of the franchise.

The sections of the original Republic Act No. 8996 are renumbered accordingly to incorporate these amendments.
The title of the Act is amended to reflect the broader scope, emphasizing educational and commercial purposes across the Philippines.
The amended law takes effect 15 days after publication in at least two newspapers of general circulation, initiated by the grantee.

Franchise is subject to the provisions of the Philippine Constitution and existing laws, rules, and regulations.
The franchise granted is transferable to successors or assigns.
Inclusion of technological advancements underscores adaptability to evolving broadcast technologies.
The explicit inclusion of commercial purposes marks an expansion from the original focus on religious and educational purposes.
Ensures fair taxation while preserving tax exemptions and incentives granted to the broadcasting industry.
Public ownership or participation in the entity is mandated to democratize ownership and align with constitutional directives.
Automatic franchise revocation safeguards compliance with ownership participation requirements.