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Rappler faces P133M tax evasion complaint

The Department of Justice (DOJ) has filed a P133 million tax evasion case with the Rappler online news website after failing to declare a real income in 2015 on their tax return.

Rappler President Maria Ressa, and other officials, stood up for a respondent in the case.

According to the BIR, Rappler Holdings allegedly refused to pay the proper tax due to inaccurate information on their 2015 tax return.

The company has been issuing and selling P181.67 million worth of Philippine Depositary Receipts (PDRs) to two foreign firms but failed to pay taxes and value added taxes (VAT) on the transaction.

Aside from Ressa, the Rappler treasurer James Bitanga was also charged.

The sale of PDRs to foreign investors is the reason why the Securities and Exchange Commission (SEC) has revoked the certificate of incorporation in January due to violation of 'constitutional restriction on foreign ownership of mass media'.

Rappler denied the SEC's statement that the Omidyar Network, developed by eBay founder and entrepreneur Pierre Omidyar, controls the operation.

Rappler also requested the Court of Appeals (CA) to reverse the SEC ruling.

Source: https://www.abante.com.ph/rappler-kinasuhan-ng-p133m-tax-evasion.htm

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