Aside from the Vhong Navarro fix, he also has a tax-related headache.
“On Thursday, May 8, businessman Cedric Lee denied that there was deliberate effort on his part to evade payment of taxes or hide the true income of Izumo Contractors Inc., of which he is the president,” reports Tetch Torres-Tupas on Inquirer.net.
In his counter-affidavit, Lee said it was the company’s chief accountant Susan Nace who “prepared the working papers for the financial statements of Izumo for audit purposes and filing of the income tax returns for 2006, 2007, 2008, and 2009.”
Lee was quoted as saying, “I have no personal knowledge as to the actual revenues collected per billings made by the accountant for a certain period. To reiterate, the accountant of the Corporation prepared the Financial Statements and filed the ITRs. I heavily relied in the trust and confidence reposed on our accountant who had been employed with the corporation for several years.”
Let’s see if the Bureau of Internal revenue (BIR) buys Lee’s excuse.
Screengrab from a News5 video
