Tiu faces tax evasion charges

By , on January 23, 2015

Antonio Tiu (screengrab from GMA News footage)
Antonio Tiu (screengrab from GMA News footage)

MANILA — Businessman Antonio L. Tiu, who was accused of being a dummy for Vice President Jejomar Binay, is now facing a P73.34 million tax evasion case.

Tiu allegedly failed to pay correct taxes in 200. This is aside from failing to file his income tax return in 2013, according to the criminal complaint filed by the Bureau of Internal Revenue (BIR).

In a statement, BIR said that Tiu only declared a total of P824,244.25 as his income.

The amount is contrary to the figures indicated in several documents from the Securities and Exchange Commission (SEC).

SEC data showed that Tiu’s investment in AgriNature Inc. and Tiu Peck and Sons Holding Inc. amounts to P53.5 million.

Tiu is the chairman of AgriNature and Greenergy Holdings Inc, which are both listed on the Philippine Stock Exchange (PSE).

Meanwhile, BIR Commissioner Kim Henares said that the businessman’s tax deficiencies seems to be a spin-off of the Senate inquiry on Binay’s alleged ill-gotten wealth involving Tiu.

“The Senate called our attention that there is an Antonio Tiu who said he is very rich. Since we have never heard of him, due diligence dictates that we should find out if he is really who he said he is and whether he had been paying his taxes,” Henares said.

“There is really nothing wrong for people to be rich as long as they pay the right taxes. As a matter of fact, we want everyone to be rich if it is at all possible—as long as they pay the right taxes—so that they can help our country develop and bring our people out of poverty,” she added.