The Bureau of Internal Revenue (BIR) on Thursday filed before the Department of Justice (DOJ) tax evasion case against the owners of Club Manila East amounting to P854,986,160.53, inclusive of surcharges and interests adjusted up to present.
Charged were spouses Julio and Priscila Cruz, of No. 14 Velasquez St., Barangay San Juan, Taytay, Rizal and with business address at Dona Priscila Building, Taytay, Rizal.
The respondents are reportedly the owners of Club Manila East-Taytay, Rizal, a seven-hectare business and recreational zone with branches in Real, Quezon and Boracay island.
Investigation showed that the spouses filed their income tax returns only for compensation income they earned.
Verification with the BIR's Integrated Tax System bared that the total combined income of the spouses from 1999 as reported in their BIR Form 1700, which is for compensation income only, amounted to only P9,686,480.
Audit made by the BIR, however, showed that the spouses had a total unreported income of P783,366,011.58 in the form of cash investments to two corporations from 1992 to 2004.
The spouses admitted the existence of such substantial investments when confronted with the findings through several assessment notices issued against them by the BIR.
However, they claimed that they came from personal loans advanced by Julio Cruz, personal loans secured by Julio from private outside source and from their accumulated savings. - pNA
Linkback:
https://tubagbohol.mikeligalig.com/index.php?topic=31929.0
