The Court of Tax Appeals has denied the motion of Rappler Holding Corp. and Rappler CEO Maria Ressa to dismiss a P70.2-million tax evasion case over their alleged incorrect declaration of tax returns.
In a 13-page decision dated Feb. 7 and written by Presiding Justice Roman del Rosario, the court’s First Division said the charges sufficiently indicated the dates and location of the alleged crimes, the amounts of income tax and value-added tax deficiencies … that constituted violations of the National Internal Revenue Code, making the charge against Rappler and Ressa valid.
In November 2018, Department of Justice prosecutors filed charges against Ressa and Rappler over their alleged failure to declare a P162.41-million profit from the issuance of Philippine Depositary Receipts (PDRs) in 2015.
PDRs are financial instruments used by some entities to receive foreign investment without violating the constitutional requirement of full Filipino ownership. —PATRICIA DENISE M. CHIU