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Aug 27, 2010
QUEZON CITY — The Bureau of Internal Revenue (BIR) has filed before the Department of Justice (DOJ) tax evasion charges amounting to some P5.5 billion against a billionaire. Charged was Macario Lim Gaw for evading payment of correct income tax in 2007 and 2008.
In a press conference, BIR Commissioner Kim Jacinto Henares said that Gaw was criminally charged with tax evasion for his willful failure to supply correct and accurate information in his income tax return in 2008. Henares said that Gaw is the president of Mega Packaging Corp. and Makro LPG.
Based on his shareholdings, Henares said, Gaw has shares in Uniwide Sales, Inc. She also said that Gaw
was charged for his willful failure to file value-added tax (VAT) returns for taxable year 2008. Gaw is a registered One Time Transaction (ONETT) taxpayer and local employee with principal address at No. 5 David St., Corinthian Gardens Subdivision, Quezon City.
The tax evasion case stemmed from the findings of the BIR that Gaw willfully underdeclared his income.
Henares noted that Gaw purchased 10 lots in 2007 and 2008 in the aggregate amount of 4,119,183,500 and sold these for P8,419,621,441.12 eight months later. The BIR Chief said that Gaw deliberately misclassified the sale of the 10 lots as a sale of “capital assets” when these are undoubtedly sales of ordinary assets.