BIR wins P12 billion tax evasion case 4750 SHARES Share it! Share TweetBy Jun RamirezThe Court of Tax Appeals (CTA) has sentenced a gold trader of up to 10 years in jail for filing false income tax returns (ITR) for the years 2005 to 2009. The consolidated tax evasion cases arose from non-declaration of the businessman’s income from multi-billion peso gold and silver transactions with the Bangko Sentral ng Pilipinas (BSP). He said what was declared was his earnings derived from his store Rex Gift Shoppe based along Ongpin St., Sta. In a 54-page decision, the court said the precious metal trader failed to supply correct information in his annual income tax returns as required under Section 255 of the Tax Code.

Source: Manila Bulletin January 21, 2019 06:33 UTC