BIR files P73-M tax case vs Antonio Tiu

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THE Bureau of Internal Revenue (BIR) has filed a P73.34 million tax evasion case against businessman Antonio Tiu, an alleged dummy of Vice President Jejomar Binay.

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The BIR accused Tiu of under declaring his income by 6,395 percent in 2008 and by 100 percent in 2013.

Tiu’s case stemmed from his failure to supply accurate information in his annual income tax return (ITR) in 2008 and 2013.

Tax investigators reportedly discovered that Tiu only declared P824,244 as his taxable income in 2008. In 2013, he did not file an ITR.

The BIR found these anomalous because records from the Securities and Exchange Commission showed that Tiu acquired shares of stocks amounting to P53.50 million in 2008 and P71.42 million in 2013 from Agrinurture Inc. and Tiu Peck and Sons Holdings, Inc., respectively.

The businessman has been dragged into the controversy surrounding Binay’s supposedly ill-gotten wealth, including a 350-hectare estate in Rosario, Batangas allegedly worth P1.2 billion.

Former Makati Vice Mayor Ernesto Mercado has accused Tiu as Binay’s dummy, saying he is fronting for the vice president as owner of the controversial property in Batangas.

However, Tiu categorically denied Mercado’s allegations that he is Binay’s dummy at the Senate hearings last year.

He said he owns the sprawling property in Rosario that Mercado claimed belongs to the vice president.

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4 Comments

  1. All indications point to a dirty operator/businessman. But he was too naive to claim those properties and not pay the real estate taxes due them. How come he has investments in millions but no declared income? A funny looking guy and as funny as a businessman.

  2. Against Corrupt on

    to add:
    Tiu said he own the property in Rosary, HOWEVER, no evidence of ownership was presented.

  3. I saw on the news last night he said he has done nothing wrong & that its a witch hunt against him because he is a friend & business associate of binay. Well if he is innocent its just so easy to prove, just show what you got in shares, show your dividends & show what you declared on your tax return, if its in order he has nothing to worry about. However if he is lying & was trying to cheat the taxman out of his money he will be caught.
    So tui dont talk just show your evidence. The truth will set you free, or maybe in this case get you jailed.