There was a message that sent, after
the killing of their bid for a new franchise with a vote of 70-11 it was a
devastating blow to the country’s biggest media entity.
The sad reality of not having a
renewed 25 year legislative franchise is a pill tough to swallow, they should
not look further whom to blame-but themselves.
This is the message House Speaker Alan
Peter Cayetano want the Lopez family to know after the denial of their
franchise.
House Speaker Alan Peter Cayetano (photo credit to owner) |
“As to the oligarchs, like the owners
of ABSCBN, whose historical institutional DNA is programmed to protect and grow
their fortunes by controlling and abusing the system, they also deprive the
country of billions in much needed funds by skirting and bending the law. Many
times in connivance with the political elite,” said Cayetano.
“We simply put an end to the privilege
of one family in using a public resource to protect and promote their private
interests…Can anyone who is familiar with Philippine history and politics have
the same doubts when it comes to the network’s owners? Or that they leveraged
the influence of the network to gain access to favored government contracts?”
The Congressional hearing was able to
unearth the very intricate and sophisticated tax avoidance scheme ABS-CBN was
implementing, which surprised everyone.
The House Speaker cited a very glaring
example, GMA Network paid P3.13 billion in taxes from 2017 to 2019 versus the
P563 million total taxes paid by the much bigger ABS-CBN during the same period.
“This makes it crystal clear that
something has gone terribly wrong with the system…Their methods for avoiding
taxes in the billions of pesos may appear ‘legal’, but how can you argue that
putting that much money in the pockets of one family, instead of having it
benefit the millions of Filipinos who desperately need it, is in any way right
or moral?” said Cayetano.
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