The Bureau of Internal Revenue has filed tax evasion charges against an Ayala Alabang resident who bought a P20-million sports car in a year that he only officially earned P225,078.
Napoleon Villapando has been accused of tax evasion for buying an expensive car while earning less than a million for three years.
The BIR noted Villapando’s employer Norsophil Metal Resources Inc., which sold him the car in 2007, had withheld and remitted taxes on his salary in 2003, 2004, 2006, and 2007.
“Thus, his acquisition must have been made possible by income he earned from other sources aside from his compensation as an employee,” the BIR said in an Interaksyon.com report.
According to the BIR, Villapando failed to report income of P19.77 million or 8,786 percent of his income. Under the Tax Code, under-declaring income by at least 30 percent is already evidence of fraud.
Villapando also failed to file his income taxes from 1992 to 2002 as well as in 2005.
