Manila Bulletin Online
Nav Bar   Sun Mar 26, 2006 Navigation Nav Bar
spacer
 
spacer
spacer
spacer
spacer
spacer
spacer



 
spacer
Marketing assn board sued for non-payment of VAT
spacer


By JEAMMA E. SABATE

Charges of tax evasion for alleged failure to pay millions of pesos in Value Added Tax (VAT) for the past 15 years, were filed against the president and 14 board members of a marketing association.

Charged were Tomas C. Banguis Jr., president of the Philippine Marketing Association (PMA), and 14 of its board members: Erlinda B. de Guzman, Lizzane C. Uychaco, Alexander Flores, Frederick Alegre, Virgilio Ajero, Jaime Sibauco, Herminio del Rosario, Cergen D. Go, Edith Dychiao, Gina Luengas, Arlene Martinez, Mylene Abiva-Sazon, Vivian Fautino, and Edwin Mapanao.  The PMA holds its office at the Philippine Stock Exchange Center, West Tektite Towers, Unit 1006, Exchange Road, Ortigas Center, Pasig City.

Lawyer Manuel Oyson III, president of the Philippine Marketing Excellence Awards (PMEA), filed the charges citing the anomalous entries in the financial statements submitted by PMA.

Oyson claimed that PMA earns about P23 million each year from its business activities. To avoid payment of the VAT, the PMA through its Board of Directors deliberately failed to disclose its revenues of P23 million each year  and instead, enter this amount in the footnotes of its financial statements under an entry ''excess (shortage) of projects,'' according to Oyson.

The defendants in their Statement of Revenues reported only the following revenues for 2003 and 2004: P4,058,920 and P3,736,012, respectively, referring to such revenues as representing membership fees.  

Oyson said ''In truth, the PMA has been cheating the Philippine government and the Filipinos of no less than P2,300,000 in VAT payments for more than 15 years or a staggering sum of P34,500,000 in unpaid VAT for which the PMA and its Board of Directors should be liable for massive tax evasion and perhaps for economic sabotage."

Printer Friendly Version spacer Email to a friend
 

spacer
OTHER METRO & NATIONAL NEWS
spacer
spacer
spacer
spacer
 

spacer




HOME | SUBSCRIBE | ADVERTISE | CONTACT US | SEARCH | ARCHIVE | FEEDBACK

FEATURES: MB WAP | MB Mobile Edition | Desktop Headlines

SECTIONS: MAIN NEWS | BUSINESS | OPINION & EDITORIAL | SPORTS | YOUTH & CAMPUS | ENTERTAINMENT | AGRICULTURE | INFOTECH | HEALTH | TOURISM | SOCIETY | METRO & NATIONAL NEWS | PROVINCIAL NEWS | MOTORING SECTIONS | SCHOOLS COLLEGES AND UNIVERSITIES | WELL BEING | TECHNEWS | TASTE | WEDDINGS | I | BOARD PASSERS | 

LINKS: PHILIPPINE PANORAMA | TEMPO | CLASSIFIED ADS ONLINE | USER PRIVACY POLICY

Copyright © 2001-2005, Manila Bulletin. All Rights Reserved.

designed and developed by
Alchemy Solutions