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Businessman Antonio Tiu faces tax evasion raps
(Updated 1:49 p.m.) The Bureau of Internal Revenue on Thursday filed a tax evasion complaint against businessman Antonio Tiu, who was tagged as a "dummy" of Vice President Jejomar Binay in the Senate blue ribbon subcommittee probe on the alleged overpriced Makati City Hall Building II controversy.
"The BIR established that Mr. Tiu substantially underdeclared his income by 6,395 percent in 2008 and by 100 percent in 2013," a statement of the tax body said.
Also, the BIR said Tiu has a tax liability amounting to P73.34 million.
The complaint was filed with the Department of Justice in Manila.
In a statement sent to GMA News, Tiu said that while the filing of the complaint was expected, "it is still disasspointing that the BIR has allowed itself to unduly harass and vex me with the unfounded and premature filing of a criminal complaint for tax evasion."
The businessman has been dragged into the controversy surrounding the Vice President's supposed ill-gotten wealth, including a 350-hectare estate in Rosario, Batangas worth P1.2 billion.
Former Makati Vice Mayor Ernesto Mercado accused Tiu as Binay's dummy.
The sprawling property in Rosario town was said to be owned by Greenergy Holdings Inc. whose CEO is Mr. Tiu.
According to the BIR, Tiu failed to supply accurate information in his annual income tax return in 2008. Tax investigators discovered that Tiu only declared P824,244 as his taxable income that year.
In 2013, he did not file an ITR, it added.
Securities and Exchange Commission records also showed Tiu acquired shares of stocks amounting to P53.50 million in 2008 and P71.42 million in 2013 from Agrinurture Inc. and Tiu Peck and Sons Holdings, Inc.
The Senate blue ribbon subcommittee is currently investigating several corruption allegations against the Vice President, stemming from the alleged overpricing of the Makati City Hall Building II.
But, Vice President has repeatedly denied all the allegations thrown against him, saying that the allegations are aimed at diminishing his chances of getting elected in the 2016 presidential polls.
At the Senate hearings last year, Mr. Tiu had denied allegations being Binay's dummy.
— Rouchelle R. Dinglasan/LBG/RSJ, GMA News
"The BIR established that Mr. Tiu substantially underdeclared his income by 6,395 percent in 2008 and by 100 percent in 2013," a statement of the tax body said.
Also, the BIR said Tiu has a tax liability amounting to P73.34 million.
The complaint was filed with the Department of Justice in Manila.
In a statement sent to GMA News, Tiu said that while the filing of the complaint was expected, "it is still disasspointing that the BIR has allowed itself to unduly harass and vex me with the unfounded and premature filing of a criminal complaint for tax evasion."
"There is still an ongoing audit being conducted by the BIR and which audit I have been cooperating in good faith. As I have repeatedly said, I am open to any independent and fair investigation that adheres to the rule of law," he said. "Clearly, any sense of fairness and justice has been set aside in filing the premature criminal complaint against me."
Tiu said his lawyers would be handling the matter "to protect my rights and interest."
Batangas property
Tiu said his lawyers would be handling the matter "to protect my rights and interest."
Batangas property
The businessman has been dragged into the controversy surrounding the Vice President's supposed ill-gotten wealth, including a 350-hectare estate in Rosario, Batangas worth P1.2 billion.
Former Makati Vice Mayor Ernesto Mercado accused Tiu as Binay's dummy.
The sprawling property in Rosario town was said to be owned by Greenergy Holdings Inc. whose CEO is Mr. Tiu.
According to the BIR, Tiu failed to supply accurate information in his annual income tax return in 2008. Tax investigators discovered that Tiu only declared P824,244 as his taxable income that year.
In 2013, he did not file an ITR, it added.
Securities and Exchange Commission records also showed Tiu acquired shares of stocks amounting to P53.50 million in 2008 and P71.42 million in 2013 from Agrinurture Inc. and Tiu Peck and Sons Holdings, Inc.
The Senate blue ribbon subcommittee is currently investigating several corruption allegations against the Vice President, stemming from the alleged overpricing of the Makati City Hall Building II.
But, Vice President has repeatedly denied all the allegations thrown against him, saying that the allegations are aimed at diminishing his chances of getting elected in the 2016 presidential polls.
At the Senate hearings last year, Mr. Tiu had denied allegations being Binay's dummy.
— Rouchelle R. Dinglasan/LBG/RSJ, GMA News
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