BDO Closure Tax Scandal: Mayor Goes to Social Media About The Real Reason Why BDO Jones Branch Had To Be Closed
Banco de Oro again went on fire after Cebu City Mayor Tommy Osmena posted in his official Facebook Page a post stating that BDO Branch in Jones only paid 35 pesos in taxes for 2015. In his post, he said that employees get their taxes automatically deducted from their wages while their bosses perform magic first. BDO: "We Find Ways". Here is a screenshot of the post:
Netizens reacted to the post. Some were positive, some were negative. But some were just wondering why the BIR did not notice this anomaly in the first place. Here is the answer of the Mayor:
A netizens asked the Mayor how to win the fight against these kinds of people. Here is what the Mayor answered:
It is quite embarrassing that the post has since then went viral and has caught the attention of a person from the United Kingdom saying that in their country the House of Commons (Congressmen) will create a committee to investigate before TV Cameras. The Mayor replied by saying "Welcome to the Philippines where a Mayor has to post about it in Facebook before the media gives the issue any attention". See the post below:
In one of the Mayor's comments in the post, he said that "BDO just opened their 1000th branch. Multiply this foolishness by 1000 and you will what kind of peope I'm fighting against. I expect a long and hard fight. But I will win. I have to win."
In one post, a certain netizen criticized the Mayor for trial by publicity. He said that the Mayor should file a case through the courts and not through social media in order to protect the Mayor's Honor. The Mayor then replied saying "So I continue to let the obviously unbiased media say whatever they like about the issue and not let people hear from the person who discovered the issue in the first place? With all due respect, don't lecture me about "honor." You don't want to know how much I was offered to shut up." See the post below.
Some netizes argued that it's not BDOs fault, but a loophole in the system. The Mayor then replied by saying "Watch Me."
Well I guess with all the influence, the legal and financial power of BDO, the Mayor will really be having a hard time resolving this issue. Right now its the Mayor of Cebu versus BDO. We're excited to know more about the developments of the story. As for now, its time for the court and the judges to decide on this issue because as they say, you are innocent until proven guilty.
If you wish to do a financial consultation with a FinancePH Financial Advisor or have questions regarding the article above, click here. Or feel free to contact us at 0905-FINANCE or 0905-3462623.
FinancePH is an advocacy group founded in 2014 by a group of financial advisors.
“We are the best, largest, most influential and most preferred financial advisors of the Filipino people.“
Contact us if you have questions regarding tax, business law, stocks, investment, insurance, estate planning or money related.
Visit our FB page to view our upcoming seminars that you can attend.
Or book a free financial coaching with one of our financial advisors here.
View the Financial Advisory team of FinancePH here.
Read Our Previous Blogs: