PHILIPPINE Telegraph and Telephone Corp. (PT&T) on Wednesday said it asked the Supreme Court to review a decision by the Court of Appeals on the recomputation of the supervision and regulation fees (SRF) that it has to pay.
In a disclosure to the stock exchange, PT&T said the Court of Appeals had ordered the National Telecommunications Commission (NTC) to recompute the SRF.
“The Court of Appeals nevertheless affirmed the use by the NTC of the incorrect amount of PT&T’s paid-up capital in computing the SRF,” it added.
PT&T said it was constrained by the decision to “file an appeal with the Supreme Court to rectify the said error.”
The company did not provide further details on the matter.
To recall, PT&T filed in 2018 a petition with the Court of Appeals questioning the amount of SRF imposed on the company by the NTC.
“While PTT is required to pay an annual SRF, the amount PT&T is being required to pay under the 28 September 2018 Decision of the NTC is inaccurate for the same was computed by the NTC based on its erroneous assumption of PT&T’s paid-up capital,” the company said in a statement. — Arjay L. Balinbin