PNoy returned excess donations to donors: Palace

By RG Cruz, ABS-CBN News

Posted at Jul 05 2011 08:31 PM | Updated as of Jul 06 2011 03:24 PM

MANILA, Philippines - A Malacañang spokesman on Tuesday said President Aquino did not pocket excess campaign donations to his 2010 presidential campaign.

Presidential Spokesman Edwin Lacierda said the Aquino campaign had P37 million in excess campaign funds after last year's polls.

"Part of that was used to pay for 5% creditable income tax and part returned  to some donors. Walang standard in the lawpaano process...[the Aquino] campaign just decided to return funds," he told reporters.

Lacierda refuted reports that Aquino failed to report the excess campaign funds as income. He said the President didn't consider excess campaign funds as income because these were returned to the donors.

Lacierda said the President is the only candidate who substantially complied with the requirements on liquidation and disclosure.

He said that for items that were not itemized in the liquidation of expenses, the campaign tried its best but also noted some items do not have receipts.

"Ang hirap explain or itemize lahat ng expenses. Alam naman natin bayad sa messenger pagsakay sa jeep, walang resibo yun."