Also charged was accountant who certified Rappler financial statements “despite clear omission, misstatement,” BIR says
(Eagle News) — The Bureau of Internal Revenue has sued Rappler Holdings Inc. for tax evasion.
In a statement on Thursday, the BIR said the criminal complaint against RHC, its president Maria Ressa, and treasurer James Bitanga was filed before the Department of Justice.
The complaint was in connection with RHC’s alleged “willful attempt to evade or defeat tax” and its alleged “deliberate failure to supply correct and accurate information in its annual income tax return and value added tax returns for taxable year 2015.”
The BIR said RHC’s income tax liabilities amount to P91,320, 481.08, and its value added tax liabilities to P42,520,824.67.
The BIR came to the conclusion after ruling RHC did sell Philippine Depositary Receipts to foreign entities Omidyar Network and NBN Rappler LP.
According to the BIR, as “dealer in securities,” RHC should have paid income tax and value added tax.
“However, the annual ITR and VAT returns for taxable year 2015 filed by RHC with the BIR showed that no IT and VAT have been paid by RHC for the income it gained in the PDR transactions,” the BIR said.
Also charged for “signing and certifying the financial statements of RHC despite the clear omission and misstatement of his client’s actual taxable income” was accountant Noel Baladiang of R.G. Manabat & Co.
The BIR said the cases filed against RHC and the others were the 133rd filed under the government’s Run After Tax Evaders program.
The Securities and Exchange Commission has revoked the media entity’s license to operate after it found it violated constitutional restrictions on foreign ownership of media.
It has appealed the decision. With a report from Moira Encina