The Bureau of Internal Revenue (BIR) today filed with the Department of Justice (DOJ) a complaint against another Bulacan gold trader – AURELIO S. BARING – (Baring) for five (5) counts of attempt to evade or defeat tax, fifteen (15) counts of failure to file Quarterly Income Tax Returns, and five (5) counts of failure to file Annual Income Tax Returns and to pay tax, in violation of Sections 254 and 255 of the Tax Code.
Sometime in August 2010, Baring was included in the list given by the Bangko Sentral ng Pilipinas (BSP) to the BIR containing the names of individuals who had gold transactions with the BSP.
Investigation revealed that Baring listed his addresses at 91 St. James LFS, Viente Reales, Valenzuela City; Tugatog, Valenzuela City; and Saluysoy, Meycauayan, Bulacan. He was not registered with the BIR and neither did he register with the Department of Trade and Industry.
Furthermore, the BIR discovered that Baring sold (refined) gold to the BSP in the years 2005 to 2009 amounting to P3.21 billion. A certification of the total sales and net payments received by Baring and copies of the Letters of Delivery and Sale detailing the number of pieces and the weight of the gold sold signed by him were obtained by the BIR from BSP.
Despite receiving taxable income from his gold transactions with the BSP, Baring however failed to file his Quarterly and Annual Income Tax Returns for taxable years 2005 to 2009. Not only did he fail to file twenty (20) tax returns during the period in question, he also did not pay his income taxes due on the same taxable years.
Baring was assessed deficiency income taxes for five (5) taxable years in the aggregate amount of P2.22 billion, inclusive of surcharges and interests, broken down as follows: P555.35 million – 2005; P649.43 million – 2006; P179.04 million – 2007; P823.21 million – 2008; and P16.11 million – 2009.
The case against AURELIO S. BARING is the forty-third (43rd) filed under the Run After Tax Evaders (RATE) Program of the BIR under the leadership of Commissioner Kim S. Jacinto-Henares. (reytdlc)
