Rappler’s in trouble again!
Still not done with its revocation of its registration by
the Securities and Exchange Commission for its non-compliance with the
constitutional limit for foreign ownership of media companies.Though last week philanthropic
investment firm Omidyar Network announced that it has donated its Philippine
Depositary Receipts (PDRs) to 14 Filipino managers of the Rappler Philippines.
Omidyar network gave
the statement that: "This donation completely eliminates the sole basis of
the SEC ruling against Rappler Incorporated and Rappler Holdings Corporation.
We therefore strongly believe that the companies should be allowed to continue
operating unhindered in the Philippines."
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| Rappler's President Maria Ressa facing a tax evasion complaint from the BIR (photo credit to owner) |
The case is currently pending in the Court of Appeals and it
would probably take time before a decision can be known from it.
And now here comes another problem just exploded before
their faces.
The Bureau of Internal Revenue (BIR) filed a tax evasion
case against Rappler Holdings Corporation (RHC).
Named as respondents for the tax evasion case are its president
Maria Ressa, and treasurer James Bitanga before the Department of Justice.
Rappler Holdings Corporation (RHC) is the parent company of
the online news media outfit Rappler Incorporated whose primary purpose is to
buy and sell real and personal properties, according to the BIR.
In statement released by the Bureau of
Internal Revenue (BIR), it said there was "deliberate failure" by RHC
to provide correct information in its income tax return and value added tax (VAT)
in 2015.
It said RHC
bought shares amounting to P19.25 million from Rappler Incorporated and then
issued and sold Philippine Depository Receipts (PDRs) worth P181M to two
foreign entities.
BIR said no
income tax and VAT were paid by RHC in 2015 for the income it gained in the PDR
transactions.
"As a
consequence of its acts and omissions, the aggregate tax liability of RHC
amounted to P133,841,305," BIR said. *
The BIR also
filed a complaint against accountant Noel Baladiang of RG Manabat & Company
"for signing and certifying the financial statement of RHC despite the
clear omission and misstatement of his client."
Ressa called
this action by the BIR as "ludicrous," and urged the BIR to
"check its own records." Rappler has been paying its taxes
accurately, promptly, and diligently, with no less than the BIR commending it
as one of Revenue Region 7's top 500 corporate taxpayers.
"This
is clear intimidation and harassment. The government is wasting its energy and
resources in an attempt to silence reporting that does not please the
administration," Ressa said.
Report from Rappler
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