Close to a hundred spurious financial statements were unearthed by the Quezon City Treasury Department over the weekend.
City Treasurer Edgar Villanueva said the documents were submitted for assessment in the payment of business taxes by the taxpayers themselves and who were trying to outwit evaluators with their fake financial statements to reduce the taxes due from them.
Villanueva added that he will immediately submit his report to Mayor Herbert Bautista for his proper action.
According to him, the city government may lose hundreds of millions of pesos in tax collection if the errant taxpayers get away with undervaluing or understating their incomes.
The treasury chief said he expects more bogus documents to be discovered by his office as he showed piles of the fake financial statements submitted by businessmen.
Earlier, Bautista warned that fixers conniving with city hall personnel will be held liable and may be meted with stiff fines and even jail terms if found guilty of being involved in irregularities in tax payments.
With the findings, Councilor Victor Ferrer Jr., chairman of the city council committee on ways and means, requested Bautista to immediately apply the full force of the law against the errant parties.
He asked the treasurer’s office to identify in public the names of the businessmen and their firms and even the city hall personnel involved in the faking of financial statements or other forms of irregularities that are eating up hundreds of millions of the city’s coffers.
“Corrupt city hall personnel should not stay in the government service a second longer. They are a disgrace to public service. Cheating business firms submitting erroneous financial statements should also be punished. If it was up to me, I would display in full public view the names of these cheaters,’’ Ferrer said.