Tax court postpones Corona’s arraignment

Former Chief Justice Renato Corona. FILE PHOTO

MANILA, Philippines–The Court of Tax Appeals (CTA) Second Division has rescheduled the arraignment of former Chief Justice Renato Corona on the tax evasion case filed against him by the Department of Justice (DOJ).

From April 2, his arraignment is set on June 4.

The Corona camp sought a suspension of the arraignment saying it still has a pending petition for review before the DOJ.

Corona is facing 12 counts of tax evasion case. Seven of the 12 counts have been consolidated before the CTA’s 2nd division.

He is facing a tax liability of P120.5 million for violation of Sections 255 (failure to file income tax return) and 254 (attempt to evade payment of taxes).

Based on the Bureau of Internal Revenue (BIR) complaint, Corona did not declare all his assets in his Statement of Assets Liabilities and Net worth in 2010.

Aside from the bank deposits, he also did not declare two real properties he acquired during his stint in government: a condominium unit at the Columns, along Ayala Avenue that he bought for P3.6 million in 2004 and a property in Fort Bonifacio that he bought for P9.16 million in 2005.

After examining Corona’s bank records and compared it with his net worth, BIR Commissioner Kim Henares said they discovered a substantial disparity between the acquisition cost of the properties declared in his SALNs and the cost declared in the certificates authorizing registrations.

Corona was removed from office through impeachment in 2012.

RELATED STORIES

Corona charged with perjury at Sandiganbayan

DOJ files 12 counts of tax case vs Corona