DOJ OKs tax eva­sion case ver­sus Rap­pler

Cebu Daily News - - ISLANDS - /INQUIRER.NET

THE Depart­ment of Jus­tice (DOJ) has ap­proved the fil­ing of tax eva­sion case against on­line news out­fit Rap­pler.

The DOJ’s ap­proval came al­most four months af­ter the case was sub­mit­ted for res­o­lu­tion.

The com­plaint against Rap­pler was filed by the Bureau of In­ter­nal Rev­enue (BIR) last March. Based on the com­plaint, Rap­pler Hold­ings Corp. (RHC) pur­chased com­mon shares from Rap­pler, Inc. worth P19,245,975. Then, it is­sued and sold Philip- pine De­posi­tary Re­ceipts (PDRs) to two for­eign firms worth P181,658,758.

The BIR al­leged the com­pany is li­able for non­pay­ment of P133,841,305 — bro­ken down into P91,320,481 in in­come tax and P42,520,824 in value-added tax (VAT) — for the year 2015.

BIR said RHC used the same com­mon shares it pur­chased from Rap­pler as the un­der­ly­ing share of the PDRs for profit and trans­mit­ted eco­nomic rights to the PDR hold­ers.

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