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What Went Before: Probe into Corona’s tax records

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05:42 AM August 31st, 2012

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August 31st, 2012 05:42 AM

Bureau of Internal Revenue Commissioner Kim Jacinto-Henares. FILE PHOTO

In February, Internal Revenue Commissioner Kim Henares told the Senate impeachment court that she had ordered an investigation of the tax records filed by then Chief Justice Renato Corona and his family.

Henares said she authorized the examination of Corona’s tax records from January 1997 to December 2010; wife Cristina’s from January 2001 to December 2010; daughter Carla’s from January 2007 to December 2010; and son-in-law Constantino Castillo III’s from January 1998 to December 2010.

As a prosecution witness, Henares brought with her a so-called “alpha list”  that detailed income and tax withheld records of Corona in accordance with the National Internal Revenue Code.

Henares said that in 2006, Corona’s withholding tax amounted to P109,706.60 on gross compensation of P465,597. By 2010, Corona’s withholding tax amounted to P176,577.32 from gross earnings of P657,755.57.

She said as director of Camp John Hay Development Corp., Cristina’s income ranged from P233,333 in 2006 to P240,000 in 2010, with tax withheld amounting to 10 percent.

Henares produced documents purporting to show multimillion properties that were either acquired or sold by the Corona couple between 2003 and 2011 and indicating discrepancies in declared income and taxes.

She said that in 2009, Corona’s daughter, Carla, had a gross sale of P97,460, a taxable income of P8,476 and a tax due of P423.80. Despite her minimal income, Carla bought an P18-million property in La Vista subdivision in Quezon City from her mother Cristina, Henares said.

9 properties not in SALNs

Henares said Corona’s statements of assets, liabilities and net worth (SALNs) failed to include nine properties he acquired since he became an associate justice.

On March 13, Araceli Bayuga, a budget and disbursement officer of the Supreme Court, testified that Corona received a total of P21,636,781.45 in salaries, allowances and other benefits from 2002 when he joined the tribunal until last year.

Bayuga said the bulk of Corona’s earnings came from allowances and other benefits he received while sitting in the Presidential Electoral Tribunal, including such items as “productivity enhancement benefit, Christmas cash gift, additional Christmas cash gift (and) yearend cash gift.”

On May 29, the impeachment court voted 20-3 to oust Corona for dishonesty in his SALNs, particularly for his failure to declare $2.4 million in deposits and P80.7 million in commingled funds.  Inquirer Research

Source: Inquirer Archives

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