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RMC No. 87-2018: Publishes the full text of RA No. 10295, entitled “An Act Renewing for another Twenty-Five (25) Years the Franchise Granted to Republic Broadcasting System, Inc., Presently Known as GMA Network, Inc., Amending for the Purpose Republic Act No. 7252, Entitled “An Act Granting the Republic Broadcasting System, Inc. a Franchise to Construct, Install, Operate and Maintain Radio and Television Broadcasting Stations in the Philippines”

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Summary

RMC No. 87-2018 publishes the full text of Republic Act No. 10295, which renews for another twenty-five (25) years the franchise of Republic Broadcasting System, Inc. (GMA Network, Inc.) and amends Republic Act No. 7252.

Key points

  1. Franchise term. The franchise lasts twenty-five (25) years from the effectivity of the Act, unless sooner revoked or cancelled. It is deemed ipso facto revoked if the company fails to operate continuously for two (2) years.
  2. Acceptance. The franchise takes effect upon written acceptance by the company to Congress within sixty (60) days from the effectivity of the Act, and non-acceptance makes it void.
  3. Taxes. The company, its successors or assignees remain subject to all applicable taxes, duties, fees, charges and other impositions under RA No. 8424 (NIRC of 1997, as amended), RA No. 7160 (Local Government Code of 1991, as amended) and other applicable laws.

Who is affected

  • Republic Broadcasting System, Inc. (GMA Network, Inc.), its successors and assignees

Deadlines and effectivity

  • Twenty-five (25) years from effectivity of the Act
  • Written acceptance within sixty (60) days from effectivity of the Act

Summary by Tax Resources PH. It is not a substitute for the full text of the issuance or professional advice.

Copies of BIR issuances are hosted here for reference. For the official version, check bir.gov.ph. Summaries by Tax Resources PH are not a substitute for the full text or professional advice.