Alphaland president didn’t evade taxes, lawyer insists

Alphaland president Mario Oreta did not commit tax evasion through a land deal with Boy Scouts of the Philippines that allegedly benefited Vice President Jejomar Binay, the property developer’s lawyer told a Senate hearing on Thursday.

 

During the resumption of the Senate blue ribbon subcommittee’s probe on accusations against Binay, Alphaland lawyer Rodolfo Ponferrada said Oreta was not given actual shares from the land deal.

 

Ponferrada said Oreta's firm, Noble Care Management Corp., only “subscribed” or committed to invest in Silvertown Property Development Corp. which was later acquired by Alphaland.

 

"Hindi po sya binigyan ng shares. Kung bigay po, mag-aagree po ako. Tama po kung binigyan, pero hindi po binigyan. Nag-subscribe po yung Noblecare  sa original issuance ng Silvertown, kaya po wala pong tax evasion,” the Alphaland lawyer argued.

 

During the last Senate hearing on the land deal, Oreta admitted that he got a 5-percent share from the joint property development deal Alphaland entered with the Boy Scouts of the Philippines (BSP) in 2008. 

 

Binay is being accused by former Makati Vvice Mayor Ernesto Mercado of getting millions from this land deal. 
 

During Thursday’s hearing, Bureau of Internal Revenue (BIR) chief Kim Henares maintained Oreta committed tax evasion when failed to declare his shares from a land deal and did not pay taxes for it.

 

Ponferrada, however, said that what Oreta did was “legitimate tax avoidance” and not tax evasion.

 

"I agree that tax avoidance is legitimate, and that’s exactly what happened here,” Ponferrada said.

 

He added that when Alphaland owner said Roberto Ongpin earlier said the shares were part of Oreta’s compensation, the property development executive meant the word in a “loose sense” and not as defined in the country’s tax law. — RSJ, GMA News