Bilyonaryo - Business

Dominguez vows to run after Marcoses’ unpaid estate taxes

April 5, 2022

Bilyonaryo.com

Finance Secretary Carlos Dominguez III said the government is keen on collecting all unpaid estate taxes from the Marcoses, which have allegedly ballooned to P203 billion.
“We have been in intense discussion with the Bureau of Internal Revenue on this issue and they are studying this issue very carefully,” Dominguez told reporters Tuesday.
Dominguez said the original amount owed by the Marcos heirs was about P9 billion but because of penalties and interest after several court cases, it ballooned to P99 billion or P203 billion.
“So which amount is going to be settled is in discussions now with BIR,” he said, adding that from his understanding from the BIR, “is that they are trying to cut through all these issues in order to do the job.”
BIR Commissioner Caesar Dulay said the agency sent the Marcos heirs last December a written demand letter regarding their tax liabilities.
According to the Human Rights Violations Victims’ Memorial Commission, the Supreme Court in July 2003 ruled that over P25 billion worth of Marcos assets was considered ill-gotten.
The Presidential Commission on Good Government (PCGG), created in 1986 to recover the Marcoses’ and their cronies’ ill-gotten wealth, has so far recovered P171 billion. (PNA)

Related News Tags: allegedly, Bureau of Internal Revenue, Carlos Dominguez III, estate taxes, Human Rights Violations Victims, Marcoses

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