MANILA, Philippines - The Bureau of Internal Revenue(BIR) on Thursday filed a criminal complaint against a gold trader from Meycauayan, Bulacan for evading P804 million in taxes, as the bureau continues its crackdown on tax-evading gold traders.
Charged before the Department of Justice (DOJ) was Virgilio Ipapo Ocampo for 4 counts of attempt to evade or defeat tax, 12 counts of failure to file quarterly income tax returns (ITR), and 4 counts of failure to file annual ITRs and to pay tax, all in violation of Sections 254 and 255 of the NIRC of 1997, as amended.
BIR Commissioner Kim Henares said Ocampo's total tax liability amounts to P804.42 million, inclusive of surcharges and interests, for failure to pay his quarterly and annual ITR from 2005 to 2008. The tax liability is broken down as follows: P101.64 million in 2005, P218.23 million in 2006, P244.72 million in 2007, and P239.83 million in 2008.
Henares said Ocampo's name was included in a list given by the Bangko Sentral ng Pilipinas(BSP) to the BIR in August 2010 containing the names of individuals who had gold transactions with the BSP.
An investigation by the BIR showed that Ocampo sold refined gold to the BSP, through his duly-appointed agents, from 2005 to 2008 amounting to P1.121 billion. The BIR was able to secure Letters of Delivery and Sale detailing the number of pieces and the weight of the gold sold by Ocampo.
The case against Ocampo is the 79th filed under the BIR's Run After Tax Evaders(RATE) program under the Aquino administration.