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Trader taxed for P1-B gold sale

Published

A trader who sold more than P1 billion worth of gold to the Bangko Sentral ng Pilipinas (BSP) has been ordered by the Court of Tax Appeals to pay the Bureau of Internal Revenue (BIR) more than P411 million in income tax for non-declaration and non-payment of taxes.

(MANILA BULLETIN)

(MANILA BULLETIN)

But the court’s First Division acquitted Felonila Caluag of Meycauayan City, Bulacan of the criminal aspect of the case for the prosecution’s failure to prove her guilt beyond reasonable doubt.

“While the accused is not guilty of a violation of Section 255 of the Tax Code (tax evasion), she is still liable to pay taxes resulting from her failure to file the required income tax returns (ITRs) for taxable years 2006 to 2009.”

In a 41-page resolution, the court stated it was not intentional or willful on the part of Caluag not to pay taxes. (Jun Ramirez)

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