BIR sues corrugated box trader, employee who bought P20-M Lamborghini coupe

The Bureau of Internal Revenue (BIR) on Thursday sued a company for tax evasion and an employee for buying a P20-million Italian sports car which he could not have afforded based on his income tax return.

 

In a complaint filed with the Department of Justice, the BIR said Napoleon Segui Villapando of Ayala Alabang bought a Lamborghini two-door coupe in 2007 from his employer Norsophil Metal Resources Inc.

 

In his income tax return for 2007, however, Villapando only declared P225,078.60 in earnings, according to the BIR.

 

"Based on the expenditure theory, if a person’s expenses in a given year exceeds his income and the source of funds from the excess spending is unexplained, it is considered as unreported income that should be taxed," the bureau said.

 

The BIR also discovered that from 1999 to 2007 Villapando declared total income of only P718,575.78. Norsophil Metal withheld and remitted his income taxes in all the years he was employed with the company for 2003, 2004, 2006 and 2007, the bureau noted.

 

Prior to his work at Norsophil Metal, Villapando failed to file any income tax return from 1999 to 2002 and then again in 2005. Thus, the BIR computed his tax liability, including surcharge and interest at P15.84 million.

 

The BIR also filed a separate tax evasion complaint against Caloocan-based Megapack Container Corporation and its president, Salvador Lara, for evading taxes and failing to supply the bureau with correct and accurate information in its tax returns for 2009 and 2010. The BIR noted the firm buys and sells corrugated boxes.

 

 "The BIR’s system tagged Megapack for audit because of inconsistencies in its returns. During the audit, the company did not present its books as required by law," said the BIR

 

An investigation by the BIR showed Megapack’s sales amounted to at least P943.28 million in 2009 and 2010. But the firm only declared P457.38 million in sales in 2009 and did not declare any in 2010.

 

"The underdeclaration is more than 30 percent and is prima facie evidence of fraud," the BIR said. — Mark Merueñas/VS, GMA News