Defense presents execs of BIR, developer firm in Corona trial

The defense team on Monday presented an official of the Bureau of Internal Revenue (BIR) and a representative of a property development company as witnesses during the impeachment trial of Chief Justice Renato Corona.

 

At the resumption of the trial, the defense presented BIR law division chief Atty. VC Cadangen to prove that Basa Guidote Enterprises did not pay any capital gains tax for the sale of its property to the Manila City government for P34 million.

 

Cadangen explained that the transaction was exempted from the capital gains tax because there was involuntary conversion of the property, which would be used for the construction of a new public market.

 

In his 2004 Statement of Assets, Liabilities and Net Worth (SALN), Corona declared an P11-million loan from Basa Guidote. The chief justice continued to declare the loan as his liability until 2009.  

 

The prosecution, however, questioned where the firm would be able to get its funds when its license was allegedly revoked in 2003. The defense team said it had funds from the sale of its properties.

 

Aside from Cadangen, the defense panel likewise presented Noel Kintanar, representative of the Fort Bonifacio Development Corporation (FBDC).

 

Defense lawyer Dennis Manalo said Cadangen will prove that the condonomium unit at the Bonifacio Ridge in Fort Bonifacio, Taguig acquired by Mrs. Cristina Corona in 2005 was not accepted by the Corona couple until 2010.

 

The prosecution had said that Corona should have declared the property in his SALN right after it was acquired. The unit was only declared in his 2010 SALN.

 

But Cadangen said during Monday's trial that Mrs. Corona refused to accept the unit until 2010 because of several defects in the unit.

 

"After the repairs were completed Mrs. Corona accepted [the unit]," he said. — Kimberly Jane Tan/RSJ, GMA News