ABS-CBN paid P71.5B in taxes over 17 years — exec
ABS-CBN Corp. and its subsidiaries paid P71.5 billion in taxes over a period of 17 years, according to its chief financial officer Ricardo Tan.

ABS-CBN paid P71.5B in taxes over 17 years — exec

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ABS-CBN Corp. and its subsidiaries paid P71.5 billion in taxes over a period of 17 years, according to its chief financial officer Ricardo Tan.

“From 2003 to 2019, ABS-CBN as a group paid P71.5 billion in taxes,” he said during the tenth hearing on ABS-CBN’s franchise application on Wednesday.

Bureau of Internal Revenue (BIR) assistant commissioner Manuel Mapoy stood by the previous statement of BIR Large Tax Payers Audit Division 3 head Simplicio Cabantac Jr. that ABS-CBN has been regularly paying its corporate taxes for the past years.

In fact, ABS-CBN paid P15,382,423,364.16 in taxes from 2016 to 2019.

In terms of violations or issues related to ABS-CBN’s payment of taxes, Mapoy said “there is no outstanding delinquent account as we speak.”

He added that among the country’s top taxpayers, ABS-CBN ranked 65th in 2016, 275th in 2017, and 339th in 2018.

During the hearing, Bayan Muna party-list Rep. Carlos Zarate pointed out the significant impact to the economy if ABS-CBN shut down completely.

“Sa panahon ngayon na grabe po ang krisis na dinadaanan natin, na pinalala pa ng pandemya ng Covid, ito yung bilyon na pwede mawala rin in the next 10 or 25 years, na supposedly na papasok sa ating pambansang ekonomya,” Zarate said.

He added that the looming layoffs in ABS-CBN this August did not only mean job losses but also lost income tax remitted to the government.

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