Thursday, March 8, 2018

Rappler, Maria Ressa May Utang Na 133-Million Buwis Sa Gobyerno! BIR Nag-File Ng Tax Evasion!


More than P133-million tax evasion case versus the owner and officials of social news network Rappler has been filed by Bureau of Internal Revenue (BIR).


Rappler Holdings Corp. (RHC) and its officials Maria Ressa and treasurer James Bitanga were charged before the Department of Justice (DoJ), Thursday.

Photo by: BIR

The BIR said Rappler Holdings Corporation (RAPPLER) and its corporate officers were civilly liable for income, and value-added (VAT) deficiencies, all covering taxable year 2015, amounting to more than P133.84 billion.

According to the press released of the BIR, they sued Rappler for attempting to evade or defeat tax and for deliberate failure to supply correct and accurate information in its annual income tax return (ITR) and value added tax (VAT) for taxable year 2015.

They said that the Rappler Holdings Corporation was registered as a domestic corporation with a purpose of buying and selling real and personal properties, including shares of stock, bonds, debentures, promissory notes or other securities obligations.

BIR added that the said company purchased common shares from Rappler INC. amounting of 19,245,975 pesos. RHC used the same common shares it purchased from Rappler INC as the underlying asset/share of the PDRs.

They pointed out that as a dealer in securities, Rappler is subject to income tax and value added tax, but they found out that no IT and VAT have been paid by the said company for the income it gained in the PDR transactions worth P181.67 million.

As a consequence of its acts and ommission, the aggregate tax liability of RHC amounted to 133,841,305.75 pesos broken down as follows:  Income tax: PHP 91,320,481 and Vat PHP42,520,824.67.

Aside from tax evasion, Rappler is also facing cases for violating the ownership rules for media companies.

Securities and Exchange Commission removed Rappler’s license to operate because they discovered that they accepted PDRs from a foreign entity, the Omidyar network.

As of writing Rappler is not yet releasing a statement on the new case slapped against them.

The media company was criticized by Rodrigo Duterte several times and one of its journalist, Pia Ranada has been banned to all events that the President would attend.

Source: Youtube