CTA orders arrest of Cedric Lee and wife over P194-M tax evasion case

The Court of Tax Appeals (CTA) has ordered the arrest of controversial businessman Cedric Lee and his wife, Judy Gutierrez, over a P194.47-million tax evasion case.

 

There is probable cause to put Lee and his wife on trial on four counts each for violating Section 255 of the National Internal Revenue Code, the CTA Second Division noted in a September 16 resolution, citing the strong evidence presented by the prosecution panel. The resolution was released to reporters on Tuesday.

 

The court has recommended a P20,000 bail bond for each count.

 

The charges against the couple stem from a tax evasion case filed by the Department of Justice with the CTA last July.

 

Based on the complaint, the Lees failed to pay the correct amount of taxes of Izumo Contractors Inc. in 2006 to 2009. Lee is president of the construction firm, while his wife is the chief financial officer.

 

Certifications secured by the Bureau of Internal Revenue (BIR) from Izumo Contractors' clients revealed the company earned P302.63 million from 2006 to 2009 but the company declared an income of only P76.22 million for those years, according to the DOJ. 

 

Lee is also facing graft and malversation cases before the Sandiganbayan Third Division for the alleged involvement of Izumo Contractors in a supposedly anomalous project – the public market in the municipality of Mariveles in Bataan.

 

Likewise, Lee is facing a serious illegal detention case with the Taguig Regional Trial Court in connection with the mauling of actor Vhong Navarro. – Elizabeth Marcelo/VS, GMA News