Aquino gov't files 2nd tax evasion case vs construction firm

[darkwing]

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in line with the policy of filing tax evasion/smuggling case per week, this is the case for this week

http://www.abs-cbnnews.com/business/...struction-firm

The Bureau of Internal Revenue (BIR) has slapped charges against officials of a construction firm who have been accused of failing to supply accurate information on their income tax return and to pay taxes amounting to nearly P69 million.

This is the second tax evasion case filed by the country's main revenue agency in line with the Aquino government's promise to crack down on cheats and smugglers to raise revenues and trim the budget deficit.

The BIR filed the tax complaint against Dennis Masigan and Natalie Ng Masigan, president and corporate secretary, respectively, of DSM Construction and Development Corp. They reside in the posh Corinthian Gardens.

Also charged was Eldrin Masigan in his capacity as vice president for operations of the corporation.

They are facing charges at the Department of Justice for failing to supply correct and accurate information in their 2006 income tax return. Their company was also found to have income tax and value-added tax deficiencies worth P52.5 million and P16.1 million, respectively.

The charges stemmed from DSM's failure to report to the BIR the P80-million compromise settlement it received in full from Mega World Globus Asia Inc. in 2006. The settlement was considered as the construction industry's largest arbitration award involving unpaid billings.

Earlier, the BIR filed tax evasion charges against pawnshop owner William Villarica, who paid only P25,600 in income tax between 1998 and 2009, but was able to buy a P26 million Lamborghini sports car.

Accomplices in tax evasion cases

In a related development, Finance Secretary Cesar Purisima said the government will also go after company auditors and lawyers who are involved in forging income tax declarations.

Purisima warned that licenses of those who will be charged may be revoked by the Professional Regulation Commission.

"We will review accreditation of auditors who audit large taxpayers. We are holding accounting profession responsible and we will file against erring accountants and lawyers," he said.

The finance chief said they will also hold liable banks which have been accomplices in tax evasion cases.

[radiostar]

nice work... one at a time...

[juNexbOyz]

lol... kulbaan na jud ning mga dagko nga construction firms kay for sure manamay ni..

grabe jud ang kwarta mag tuyok sa mga construction companies that is why they tend to evade, much more if mo bid sila for government works.

[Metz]

best case scenario settlement napud ni padung where the gov't gets 50% of what is owed immediately and no jail time. Kay kung ikiha pani, molain nalang ang presidente di pa mahuman ang kaso.
Di pwede makahimo ug special court to speed up these types of cases?

Clean up your ranks first BIR while doing the witch hunt.

[Dark-Knight]

Sakto pud ning angay i-apil ning mga auditors ug lawyers na mo-forge sa income tax kay kung wala ni sila dili man jud matikas ang declaration siguro.

[Tirong-say]

Nice, next unta ini effective disbursement of public funds, kanang dili ma-shoot sa bulsa.....he-he

[PaYaSo]

bcn file ra sad ni kutob ha. kinahanglan prisohon gyud kng mapatud an. pra mtagam ning mga tikasan

[samamar21]

maayo unta makabayad ni sila in their back taxes.

[emailroy2002]

nano di mana sila mamayad oi... mga hangol kwarta...

[brandnewbien]

P26 million Lamborghini sports car. <----- lami-a ani oi. na baha-an ra ni sa manila sa?