In affirming the resolution of one of its divisions, the court en banc also ordered Samuel Santos, president of Kingsam Express of Valenzuela City, to pay the Bureau of Internal Revenue more than P18 million in deficiency income tax.
Court records showed the corporation did not properly report the acquisition of 25 passenger buses in its ITR and financial statements. “His unjustified ignorance of his responsibility to ensure the accuracy of the information provided in the subject ITRs and financial statements render his actions willful and intentional,” said Associate Justice Erlinda Uy who wrote the 39-page decision.
The court set aside the argument of the businessman that he had no full knowledge on the preparation and submission of the tax papers as they were done by his accountant.He also claimed that the bus units were delivered late and were not in operation for a time.