Contractor charged with tax evasion for undeclared income ...

The Bureau of Internal Revenue (BIR) today filed a criminal complaint with the Department of Justice against ROMMEL SALVA YNION (YNION) for willful failure to supply correct and accurate information in his Income Tax Return (ITR) for taxable years 2006, 2008 and 2010 and in his Value Added Tax (VAT) Return for the 4^th quarter of taxable year 2010 and willful failure to file VAT returns for taxable years 2006 to 2009 and 1^st to 3^rd quarters of taxable year 2010, in violation of Sections 254 and 255 of the National Internal Revenue Code of 1997, as amended (Tax Code).

YNION, a contractor, is the sole proprietor of HOKSING BUILDERS with registered address at 5o Palma St., PDP Village, BF Homes, Para?aque City.

Records of investigation indicated that third party information disclosed that YNION received several income payments from various sources, to wit:P17.33 million in 2006,?P2.2 million in 2007,?P1.9 million and?P14.2 million in 2008,P2.2 million in 2009, and?P45.54 million,?P6.5 million and?P206.1 million in 2010.

Despite earning such income from his clients, however, Ynion failed to declare his true income with the BIR. The BIR revealed that he only declared in his ITRs gross income amounting to?P6.5 million in 2006,?P7.2 million in 2008 andP207.3 million in 2010. YNION thus underdeclared his income by?P11.4 million or 176.79% in 2006, by?P8.8 million or 121.42% in 2008 and by?P50.1 million or 24.15% in 2010.

Investigators likewise discovered that YNION failed to declare for VAT purposes his income for taxable year 2006 and for the third quarter of 2010. Furthermore, he willfully and repeatedly failed to file his quarterly VAT returns from 2006 up to the first three quarters of 2010 and failed to supply correct and accurate information in his 4^th quarter VAT return for 2010 when he purposely made in the said return entries that were false and misleading.

For such acts and omissions constituting violations of the Tax Code, YNION was sued for a total deficiency tax liability in the sum of?P84.8 million, inclusive of surcharges and interests, broken down as follows: IT ??P57.7 million; and VAT ??P27.1 million.

The case?against ROMMEL SALVA YNION is the 120^th filed under the Run After Tax Evaders (RATE) program of the BIR under the leadership of Commissioner Kim S. Jacinto-Henares. (reytdlc)

Source: http://www.dof.gov.ph/?p=4466

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