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Eric Yap: ABS-CBN’s scheme to avoid taxes ‘unacceptable’

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Benguet caretaker and ACT-CIS Representative Eric Yap called on Congress to fix the loopholes in the country’s tax laws.

The Benguet politiko has accused ABS-CBN of abusing the law’s loopholes to avoid paying taxes.

Yap explained that the media giant set up distribution companies in “tax haven” countries like Cayman Islands, Luxembourg, and Hungary.

“I urge my colleagues, let us look into this. Let us take this seriously. ABS-CBN perfected a model to avoid paying the right taxes by circumventing the law,” he said.

“Hindi ito katanggap-tanggap at nakaka-alarma ito dahil baka maging model ng iba pang malalaking negosyo katulad nila,” Yap added.

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