Pawnshop owner faces tax evasion raps

[yacky2006]

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Pawnshop owner faces tax evasion raps

MANILA, Philippines – (UPDATE) The Department of Finance and the Bureau of Internal Revenue filed tax evasion charges against the owner of a chain of pawnshops, officials said on Thursday.

William R. Villarica, owner of Villarica pawnshops, allegedly failed to file his true income tax return from 1998-2009, declaring only an aggregate payment of P25,600 despite allegedly owning several sports vehicles.

Villarica will be charged for violation of Sections 254 and 255 of the National Internal Revenue Code of 1997. This has a penalty of imprisonment of not more than 10 years.

BIR Commissioner Kim Jacinto-Henares said that in 2007, Villarica filed a zero tax return but purchased a Lamborghini sports car worth P26 million. The purchase was verified by a certified true copy of the Deed of Sale dated April 4, 2007 provided by the Land Transportation Office (LTO).

“We find it to be not just criminal but perhaps also immoral for a person that earns profits out of people in need of financial assistance yet fails to do his one duty to the country and pay his proper taxes,” Henares said.

Based on the purchase price of the Lamborghini, BIR computed the possible income tax deficiency to P16.2 million while the possible deficiency in Value Added Tax could amount to P6.3 million.

Meanwhile, Finance Secretary Fidel Purisima said they will conduct further investigation against Villarica concerning his other properties.

Henares added that they are also determining how much he earned from 1998-2009.

Source: Pawnshop owner faces tax evasion raps - INQUIRER.net, Philippine News for Filipinos

[juNexbOyz]

What are his other businesses kaha bro?

One Villarica Pawnshop has just opened here in Tisa but sira man usahay.
For sure naa ni mas dako na business.

[tikud]

If the government is serious in going after TAX EVADERS they could easily consolidate all the documents of different government agencies and compare notes.

e.g. BIR records VS.
REAL ESTATE Ownership recorded with the Register of DEEDS
SHARES OF STOCK with Securities and Exchange Commission
Business Ownership with DTI
VEhicle Ownership with LTO
TRAVEL HISTORY with DFA

Dummy Corporations and Dummy Personalities are more often employed to EVADE TAX.
Am sure these can be traced if religiously investigated.
I have seen ordinary employees used as DUMMY for big corporations including dummy for FOREIGN investors who already owned properties even without a record with the BIR paying Income Taxes.

How can you afford to buy a 10M House and Lot and you only pay 20T a year of Income Tax?
Example lang ni how our tax system should be improved so Taxes can be properly collected so the Government can improve basic services granting NO MORE corruption in Govt.

[Keshie2010]

ka grabi ani gud.... dako baya sila mo apraise og mga jewels.... coz' naka try ko sauna kato wala koy pang tuition.... pero, kana naka sala man diay, di na jud na ma dag sorry2....

[FKtemp]

yati! ra 10yrs nabayan tax 25k?!!!

[insomiac]

ngega gud ani niya! for sure naa ni siya kapit before pero krn wala na! whahahhhaa

[darkwing]

for sure naa gyud na under the table sa old administration lahi na karon!

[insikto]

daghan pa guro ing ani.

[Dark-Knight]

Kana! Mao nay sakto. Kung tanan business stablishments especially kato dagko ila jud subayan aw dako gyud ning tabang pangpuno sa budget sa Philippine Gov't. Unfair pud ni sa part sa mga ordinary employees who are paying exact amount of tax kay largo deduction sa sweldo nya sila kung kinsa pang mga datu mao pa ang kusog mo-ikyas.

[necrotic freak]

ngega gud ani niya! for sure naa ni siya kapit before pero krn wala na! whahahhhaa

mao nay gi ingon nga weather2x laang.. ug ni daog pa si gibo, tuloy ang ligaya aning tawhana. hehe