ABS-CBN officials deny its foundation is a 'tax shield'

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.

Big dipper sa Hungary and isang office sa Cayman Island 😏🧐

Remulla has no common sense. Why ABS-CBN donates million of pesos to charities just to save taxes? Tax rate is only 30% so if they will donate 1M they will give away 1M but save as much as 300k of tax. If not, they will save 1M but lose 300k to corrupt politicians like Remulla.

Grabe na talaga!!! Ang salbahe Ng mga $$! Mga demonyo! Maiiyak ka nalang at magdadasal sa Diyos na sana ay mapagtagumpayan natin Ito 💔💚💙

So tax shield din pala ungn gma kapuso foundation. Kung magbintang kala mo abs lang may foundation 🤦

Reminder lang po sa kahit na sino ang nakaupo sa Govt hindi po kayo naglilikod sa isang tao lang...mamamayan po ng bansa ang paglilingkuran nyo ano po... protektahan nyo po kami ipagtanggol nyo po kami... hindi po pansariling hangarin po kung bakit andiyan kayo.

yung donation na binibigay ng mga tao hard earned money nila yun..eh yung binibigay na tulong ni rep. remulla hardearned money nya kaya yun..siguro malamang pero po yung sweldo nyo hindi po galing sa private company huh..yunh sweldo nyo po galing sa aming mga taxpayer😃

do they do charity works? baka kasi kay remulla hindi shield sa tax yun sa kanya ginagawa nya for a show🙄 kung meron man..atleast inaamin ng abscbn na gling sa mga tao yung donation..eh binibigay nya kaya sa tax din nmn ng tao galing yun 😂😂😂

Tax shield or not what matters is maraming natulungan, natutulungan at tutulungan pa sana!

Despite of the videos and photos they can see from the ABS CBN sites, they called it a shield. Well atleast it went to people not on politicians pockets. Oh, wait a minute, it's that the reason why the Congress are mad? They got less to plunder? Hmmm

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