Cedric Lee summoned to answer P194M tax evasion case

by Ina Reformina, ABS-CBN News

Posted at Apr 16 2014 12:43 PM | Updated as of Apr 17 2014 03:28 AM

MANILA - The Department of Justice (DOJ) has summoned beleaguered businessman Cedric Lee to appear before its preliminary investigation hearing on the P194.47 million tax evasion case filed by the Bureau of Internal Revenue (BIR).

Assistant State Prosecutor Allan Stewart Mariano, the public prosecutor handling the tax complaint, set the hearing on April 28, at 2 o'clock in the afternoon.

Lee is compelled to appear before Mariano should he decide to file his counter-affidavit and defense on the said date, in order to personally subscribe to them.

The BIR filed the tax case against Lee last March for the failure of his firm, Izumo Contractors Inc, to accurately declare income payments for taxable years 2006 and 2009, and failure to pay the corresponding taxes.

The BIR complaint said Izumo received income payments amounting to P302.62 million for the said years but declared only P72.22 million as aggregate income.

Izumo "deliberately failed" to declare its income by P88.79 million or 1,602% in 2006, P36.93 million or by 404% in 2007, P9.49 million or by 44% in 2008, and P91.20 million or 227% in 2009, according to the BIR.

Lee, along with 6 others, was recently indicted by the justice department before the Taguig City regional and metropolitan trial courts for serious illegal detention and grave coercion in connection with the mauling and detention of actor-TV host Vhong Navarro last Jan 22.