ABS-CBN officials deny its foundation is a 'tax shield' ABSCBNfranchise
Rep. Remulla says MANILA - ABS-CBN Corp. donated P129 million from 2015 to 2019 to its foundation to support its social development programs, lawmakers were told Wednesday during the 10th hearing on the network's franchise bid.
"Katulad ngayon, pandemya. Nagbigay sila ng cash donation sa amin ng P52 million," she said in response to questions from Senior Deputy Majority Leader and Cavite Rep. Jesus Crispin “Boying” Remulla. Afan also said the parent company in 2009 donated some 780,995 shares to the foundation, which is currently equivalent to P11 million.
"'Pag kayo ho ay nagdo-donate, hindi ibig sabihin, buong puso niyong binibigay. Binabawas niyo rin yan para mabawas po sa buwis na binabayaran niyo," he said.
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