BIR files P88M tax evasion raps vs contractor, video firm

ABS-CBN News

Posted at Mar 01 2012 12:58 PM | Updated as of Mar 02 2012 01:24 AM

MANILA, Philippines - The Bureau of Internal Revenue (BIR) filed Thursday tax complaints worth P87.7 million against a contractor who has unexplained wealth, and a video company, which failed to declare its income.

Charged were Tirso Edwin Gardiola, a contractor and resident of Batangas City, and Premier Global Links Ents. Inc., including its president Nelson Cheng and treasurer/secretary Caroline Cheng.

The BIR said Gardiola bought a P4.75 million 2003 BMW 74511 in 2006, when he declared an income of only P769,808.

Citing Land Transportation Office records, the tax bureau also said Gardiola bought more luxury vehicles worth over P30 million in succeeding years until 2009, but filed no income tax returns.

The BIR computed Gardiola's tax liability at P35.2 million.

Premier Global, meanwhile, bought a P41.69-million land from property giant Ayala Land Inc. in 2005 and did not declare it in its audited financial statement for the year.

The company also did not declare income generated from the property, the BIR said.

Premier Global was assessed with a tax deficiency of P52.6 million, inclusive of surcharge and interest.