” While the Court of Appeals required NTC to re-compute the SRF to be collected from PT&T, the Court of Appeals nevertheless affirmed the incorrect assumption by NTC on the amount of PT&T’s paid-up capital. This is relevant since the amount of the SRF is computed based on PT&T’s paid-up capital,” said the telco firm controlled by businessmen Salvador Zamora II and Benjamin Bitanga.
In an order dated September 28, the NTC directed PT&T to pay P444 million in SRF for 2002 to 2017.
PT&T said the computation was incorrect because it was based on NTC’s erroneous interpretation of what constitutes the company’s paid-up capital.
The NTC, however, said it could not reverse its decision as PT&T failed to contest the computation within the time allowed.
PT&T currently provides high-speed fixed internet services in the Greater Manila Area, northern and southern Luzon.