Friday, November 30, 2012

BIR files tax evasion raps vs gold trader

by Ina Reformina, ABS-CBN News
Posted at 11/29/2012 2:06 PM | Updated as of 11/29/2012 2:06 PM
Originally Posted Here

MANILA, Philippines -  A gold trader was charged with tax evasion before the Department of Justice (DOJ) for underdeclaring his income from 2006 to 2009 and failure to pay the appropriate income taxes.

Charged by the Bureau of Internal Revenue (BIR) was Francois Joseph Xavier Rast, proprietor of Rast Metalor Phils., with business address at VFP Bldg. II, Veterans Center, Taguig, for a total tax deficiency of P558.03 million.

BIR Commissioner Kim Henares said Rast sold to the Bangko Sentral refined gold and silver amounting to P118.15 million in 2006, P209.54 million in 2007, P306.93 million in 2008, and P238.06 million in 2009, or a total amount of P872.68 million, but failed to declare his income. 

"A comparison of the gross income he declared in his tax returns with the net payment he received from BSP in the years in question revealed that he grossly underdeclared his income by more than 30%," the BIR said, in a statement. 

The case against Rast is the 137th filed by the BIR under the Run After Tax Evaders (RATE) program under the Aquino administration.

Tuesday, November 27, 2012

BIR still going after Pacquiao

Philippine Daily Inquirer
1:38 am | Monday, November 26th, 2012
Originally Posted Here

GENERAL SANTOS CITY—The Bureau of Internal Revenue (BIR) in Central Mindanao says it is not giving up on its case against world boxing champion and Sarangani Rep. Manny Pacquiao for his failure to answer the agency’s summonses and submit his 2010 tax documents.

Although the city prosecutor dismissed the case against Pacquiao on Oct. 12 citing the BIR’s failure to personally serve its summonses, the tax agency has filed an appeal.

Regional Director Rozil Lozares said the agency would “exhaust all legal remedies available just to overturn the decision of the City Prosecutor’s Office in Koronadal City.”

In his motion for reconsideration, Eric Diesto, chief of the legal division of BIR Region XII, assailed the prosecutor’s resolution, saying BIR representatives failed to personally serve the subpoena on Pacquiao because access to him was very limited. All matters regarding BIR transactions were being handled by the boxer’s accountants.

The subpoena was served twice but Pacquiao was not around, Diesto said.

Diesto admitted that in February, Pacquiao sent two lawyers and two accountants to clear up his problem with the BIR.

The BIR said the case it filed in March was not a tax evasion case but simply one of a “failure to obey summonses.”
But Arnold D. Cruz, officer in charge of the Prosecutor’s Office in Koronadal City, threw out the BIR’s case, saying it was “absurd to hold the respondent liable for neglecting to obey a subpoena which he did not receive at all in the first place.” Aquiles Z. Zonio, Inquirer Mindanao

Originally posted: 8:42 pm | Sunday, November 25th, 2012