The P25-B “Rob”

Telco business in the country is a duopoly that it is able to abuse its market. Lucky for them, Filipinos are Facebook crazy, losing pesos of unused prepaid load is being tolerated if not unnoticed. 

Considering the millions of cellphone users in the country, load “theft” can easily run to tens of millions a day. I was a victim of this, as millions others. I paid for a hundred-peso load and used only my prepaid phone one time for less than a minute. The second time I used it I got an advisory, what was left in my load was P26.00. OMG, someone ran off with my load! 

Now PT&T says it is coming in and give wider competition. Consumers will surely benefit from wider choices. Everybody is hoping PT&T makes true its intentions and give us, consumers, better choices. 

The whispers, however, in the business community is this announcement could be more of an invitation to be bought by the duopoly. The last time somebody threatened to end this industry control, somebody earned billions of pesos. 

 

Mighty Offer

Who said crime does not pay? You’re not a Filipino or, OMG, you’ve not been reading what happened to the Mighty Corp. settlement deal to escape rotting in jail for its owners and top executives.

After succeeding to evade paying taxes in years, the government accepted Mighty’s offer of P25 Billion to clear them of their criminal liabilities. 

If you go by the numbers, the DOF and BIR recently reported as expected taxes from Mighty’s take over company, Japan Tobacco, Inc., estimated at P40 Billion in 2018 alone, looks like the P25-Billion offer by Mighty is still a rob.

Start computing. The government lost this about P40 Billion a year for several years when, allegedly, Mighty group perfected its tax evasion scheme, using fake tax stamps. 

The whispers in coffee shops say that the bigger settlement went to the wrong pockets. 

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Wednesday, 21 February 2018
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