THE Quezon City government on Monday said it was moving ahead to collect over P1 billion in unpaid business taxes owed by the ABS-CBN network.
“We are just trying to get back the correct taxes ABS-CBN must pay the city government,” City Treasurer Edgar Villanueva said. He referred to the Supreme Court’s October 2008 ruling favoring City Hall.
ABS-CBN has religiously paid its franchise tax, equivalent to 0.57 percent of 1 percent of its annual gross receipts, but not the local business tax of 0.57 percent of 2 percent of the annual gross receipts that the Quezon City government has imposed.
The amount has ballooned to over P1 billion since 2006.
Earlier, the Quezon City government moved to collect about P823 million in similar back taxes from GMA Network.
Source: Manila Standard