EXPOSED | ABS-CBN Global Hungary annual revenue of US$54.74 million (2017) with only one employee  |
Channel: Building For The Future
Date: 12/05/2020

ABS-CBN Global Hungary Kft is a hugely profitable limited liability company with only one employee. As of July 2019, it had an annual revenue of US$54.74 million and was overseeing 133 corporate family enterprises and 77 subsidiaries of its ultimate parent - Lopez, Inc. 

That is not the only mystery surrounding this little known Hungarian operation. It is the main customer of another ABS CBN fully owned subsidiary, Big Dipper Digital Content and Design, Inc. – a PEZA-registered company in charge of operating and maintaining the company's media asset management system


ABS-CBN claims it is paying taxes to the government, it is actually paying not enough as most of its profits go directly to the Hungary Holding Company, which is the network's clever way of evading paying Philippine taxes? How does it affect ABS-CBN's multi-billion peso debt to government banks? Does it skirt paying the right amount, too? If so, pity the ABS-CBN 4,000 Plus claimed employees. They worked for a giant corporation disguised as poor to avoid paying the right taxes to the Philippine government.



Ang ABS Hungary nag engage sa services ng Big dipper (Peza registered almost tax free ang big dipper). Pinapalabas ng ABSCBN na ang big dipper lang ang kumikita ng malaki sa company Nila, which is almost tax-free. Nakakatawa iisa ang empleyado ng ABSCBN Hungary.   

How to get away with paying less taxes legally:

1. Register as a PEZA company.
2. Establish a shell company in Hungary.
3. On paper: export something to that shell company that you also own.

Source: https://bit.ly/3fHVYZ0

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