Lao didn't declare income during years of SALN increase

Former Budget undersecretary Christopher Lloyd Lao failed to declare his income during the time his Statement of Assets, Liabilities, and Net Worth (SALN) increased despite being a government official.

During the Senate hearing on the Department of Health's utilization of COVID-19 funds Monday, Senator Imee Marcos demanded Lao to explain why he had zero income from 2017 to 2019.

"Your income tax return with the BIR (Bureau of Internal Revenue) showed that you did not declare income, zero income  from 2017 to 2019. Can you please explain why you had earned income from the sale of memorial lots yet no income was reported in the tax return?" said Marcos.

"Bakit zero 'yung income pero nag-increase 'yung net worth? Ano talaga totoo diyan?" she added.

(Why is your income zero but there is an increase in your net worth? What is the truth?)

In response to the senator, Lao said he earned his income from selling memorial lots and  golf course property.

One of the lots, he mentioned, sold for P80,000 to P100,000.

"My wife did not declare it anymore so it's not included in our ITR (income tax return)," said Lao.

Further, Lao said he also did not declare income when he was practicing law.

"My ITR that declares no income is based on my practice. I have invested myself in a practice at a law office ko so no income 'yun (I invested myself in law practice so there's no income there)," he said.

However, Marcos pointed out that as government officials, Lao should declare his income.

"But we all have to submit our SALN, you are supposed to aggregate all sources of income. In your case, there is an increase and yet there is no income," she said.

"To what do I blame this upon? Because it is really inconsistent," the legislator added.

Marcos also said that Lao must provide better records of his income.

In a previous Senate hearing, Senate Minority Leader Franklin Drilon discovered that Lao had a P5 million increase in his net worth in 2020.—AOL, GMA News