Masinop Logistics Corporation (MLC) is a domestic corporation engaged in the business of freight forwarding and customs brokerage with principal offices in the City of Manila. The Sangguniang Panlungsod of Manila enacted City Ordinance No. 2024-05, imposing a local business tax (LBT) of 2% on the gross receipts of all entities engaged in freight forwarding and customs brokerage within the city, in addition to the percentage tax already collected by the national government under Section 118 of the NIRC on the same gross receipts. MLC filed a complaint before the Regional Trial Court challenging the ordinance on the ground that it constitutes double taxation and that the LGU has no authority to tax an activity already subject to national tax. Is MLC's challenge meritorious? Explain your answer.