MANILA — The Bureau of Internal Revenue (BIR) on Thursday filed before the Department of Justice (DOJ) a total of Php39.03 million tax evasion against spouses James Lee Tiu and Ann Loraine B. Tiu.
The BIR charged the Tiu couple for violating Sections 254 and 255 of the National Internal Revenue Code of 1997, as amended (Tax Code).
In a press conference, BIR Commissioner Kim S. Jacinto-Henares said that respondent James Tiu was charged with willful attempt to evade or defeat tax and deliberate failure to supply correct and accurate information in his Income Tax Return (ITR) for taxable years 2010 and 2011.
He is registered with the BIR with address at Bay 4 MDC Road Warehouse, Veterans Center, Taguig City.
On the other hand, Ann Loraine Tiu was charged with willful attempt to evade or defeat tax, and deliberate failure to file her ITR for taxable years 2010 to 2012.
She is registered with the BIR with address at 120 2nd St., corner A. Del Mundo St., Caloocan City.
Henares said that documents obtained from the Commission on Elections (Comelec) showed that James Tiu made a total contribution of Php7.5 million to the vice presidential candidacy of Jejomar C. Binay and Php2.5 million to the political party PDP Laban in the 2010 national elections.
In the same year, he made a down payment for a BMW3351 Cabrio in the amount of Php5.85 million.
He also sold shares of stocks not traded in the local stock exchange worth Php259,500 while incurring cost and other expenses amounting to Php150,000.00 and paying Capital Gains Tax in the amount of Php9,511.
In his ITR for taxable year 2010, he declared total sales in the amount of Php4.01 million and claimed expenses worth Php3.65 million.
He paid a total amount of Php58,750 as his income tax.
In 2011, James Tiu contracted a loan with Philippine Business Bank (PBB) worth Php3.34 million and made an additional investment worth Php7.5 million in Greenergy Holdings, Incorporated.
In his 2011 ITR, he declared sales amounting to Php3.15 million, claimed cost of sales of Php2.7 million, deducted expenses worth Php125,000 and paid a total amount of Php42,500 as his income tax.
Likewise, he paid Php3.12 million as amortization for his PBB loan.
Henares said that Ann Loraine Tiu also contributed Php7.5 million to the election campaign of vice presidential candidate Jejomar C. Binay and Php2.5 million to the political party PDP Laban in the 2010 national elections as reflected in documents also obtained from the Comelec.
In the same year, she sold shares of stocks not traded in the local stock exchange worth Php172,000.00 while incurring cost and other expenses amounting to Php100,000.00 and paying Capital Gains Tax thereon in the amount of Php6,301.63.
In 2011, Ann Loraine Tiu paid Greenergy Holdings, Incorporated Php7.5 million as additional investment and another Php21.5 million in 2012.
She did not file her ITR for taxable years 2010, 2011 and 2012.
Henares said that spouses James and Ann Loraine Tiu were sued for an aggregate income tax liability amounting to Php39.03 million, inclusive of surcharges and interests, such as James with Php14.96 million and Ann Loraine with Php24.07 million.