BIR to tax Pedicab driver at Tindero

BIR will now tax Pedicab driver and vendors, they will now require them to hire accountants to file their income taxes. BIR must be joking.

Commisioner Kim Henares said they should pay taxes since it's a business.

The Memorandum Circular No. 7-2014 created by the BIR will now require the marginal income earners to pay income taxes, but they will be exempted to the value added tax and business tax.

The sector was described or defined in the circular as individuals who are self-employed and earning not more than P100,000 in a year.

The group under the circular was identified as owners of small karinderia and other micro-entrepreneurs and this exclude licensed professionals, sales agents, brokers, artists and other professionals whose incomes are subject to withholding tax.

The plan of the BIR to slap more taxes was aimed at boosting tax collections and address leaks from tax evasion of some groups.

Who is Cedric Lee?

Cedric Lee the person who is involve in Vhong Navarro's beating last January 22 is a managing director and a major shareholder of Colossal Mining Corporation according to his LinkedIn profile. It also says that he is a Business Management graduate of De La Salle University and was involved in some companies that includes large mining firm.

Some companies that he listed includes, contractor Izumo Contractors Inc., landfill manager Waste Management Inc., and dredging operator Phil-Asia Dredging and Reclamation Corp. It also say that he is a managing director and a major shareholder of Colossal Mining Corporation.

Colossal Mining Corporation is a member of the Chamber of Mines, that states that they are engaged in mining and production of iron concentrates in the Philippines.

Bureau of Internal Revenue Commissioner Kim Henares in an interview said that she will looked into Lee's associates who are facing tax evasion raps.




Henares also mentioned that one of Lee's business partners is Tyrone Ong, who was charged for tax evasion by the BIR in June 2012. The BIR charged Ong, president of Mandaluyong City-based Enviroaire, Inc., in June 2012 for failure to pay his tax obligations in 2007 amounting to almost P184 million.

Enviroaire has supplied the Philippine National Police (PNP) with motor equipment, and is also into the emission testing business.

Ong is currently detained at the PNP Custodial Center in Camp Crame after having been ordered arrested by the Sandiganbayan in August 2013 on graft and malversation charges for the fictitious repair and maintenance of V-150 armored vehicles worth P385.48 million in 2007.

The anti-graft court did not allow him and his co-accused to post bail.

Mercury Drug owner Tops BIR's Taxpayers list

Vivian Que Azcona owner of Mercury Drug is the BIR's top individual income taxpayer for 2012, stated on the report of the Bureau of Internal Revenue (BIR). She paid P131.43 million in income tax.

The report is on the Top 500 income taxpayers for last year released by BIR yesterday.

TV host Wilfredo Buendia Revillame or Willie Revillame, is in second. He payed an income tax of P63.9 million.

At No. 3 was Estelito Mendoza of E.P. Mendoza Law Office, his income tax is P56.59 million.

Kristina Bernadette Aquino, or “Kris,” youngest sister of President Aquino, was in 6th place, she paid P44.93 million.

John Lloyd Cruz and Sharon Cuneta-Pangilinan settled for eighth and ninth place, with tax payments of P42.79 million and P42.025 million, respectively.

The Zobel brothers took the 10th and 11th spots. Fernando Zobel de Ayala paid P40.85 million and Jaime Augusto Zobel de Ayala II, P40.78 million.

The BIR earlier explained that the list of top taxpayers was based on regular income taxes paid resulting from transactions and not static assets.

This means a tycoon who has much bigger assets could possibly trail behind someone in terms of income taxes paid.
Excluded

The list of top individual taxpayers excluded those whose taxes were withheld and paid on their behalf by companies that employ them.

BIR Will Investigate Napoles children

MANILA, Philippines— The Bureau of Internal Revenue (BIR) will investigate if there are possible tax violations committed not only by Janet Lim-Napoles but also her children.

BIR Chief Kim Henares said during an interview, “We want to know how much is their total tax liability”.

The BIR already filed tax evasion complaint before the Department of Justice against Janet Napoles and her husband Jaime. Her total tax liability is P44.68 million while her husband’s liability is P16.43 million.

The BIR also filed a separate tax evasion case against Napoles’ youngest daughter Jeane Catherine for failure to file income tax return for 2011 and 2012.

Henares said the young Napoles was able to acquire a condominium unit at the Ritz Carlton in Los Angeles, California worth P54.73 million; and has a share, equivalent to P1.49 million, in a Bayambang, Pangasinan property purchased in 2012 without declaring any income. Jeane was heavily criticized through social media for flaunting her lavish lifestyle.