The Bureau of Internal Revenue (BIR) today filed with the Department of Justice (DOJ) a complaint against ex-Philcomsat Holdings Corporation (PHC) Board of Director and lawyer Luis K. Lokin, Jr. (Lokin, Jr.) for five (5) counts of willful attempt to evade or defeat payment of income taxes for taxable years 2003 to 2007, three (3) counts of attempt to evade or defeat payment of value-added taxes for 2005 to 2007, thirty-six (36) counts of failure to file VAT returns for 2005 to 2007 and five (5) counts of willful failure to supply correct and accurate information in his Income Tax Returns (ITRs) for taxable years 2003-2007.
A resident of No. 251 D. Tandang Sora Ave., Quezon City, Lokin, Jr. was one of the subjects of a Senate inquiry for his (alleged) involvement in the questionable disbursements of corporate funds of Philippine Overseas Telecommunication Corporation, Philcomsat and Philcomsat holdings Corporation (PHC).
On the basis of Senate Committee Report No. 312 and other data including information provided by various government agencies and corporations, auditor’s working papers provided by PHC external auditor Virgilio R. Santos and confidential information sent to the BIR Commissioner, BIR investigators discovered that Lokin, Jr. substantially underdeclared his income by failing to declare in his ITRs income payments received from PHC of P4,991,087.00, P2,125,000.00, P5,819,613.00, P2,555,133.00 and P7,796,312.00 in 2003, 2004, 2005, 2006 & 2007, respectively.
Lokin, Jr. was assessed deficiency income taxes for the said period in the aggregate amount of P12,472,899.07, inclusive of surcharges and interests.
Furthermore, the BIR found out that Lokin, Jr. is subject to VAT as a lawyer but nevertheless failed to file his VAT returns from 2005 to 2007 and to pay the taxes due thereon in the aggregate amount of P3,744,493.59.
The case against LUIS K. LOKIN, JR. is the thirty-fifth (35th) filed under the Run After Tax Evaders (RATE) Program of the BIR under the leadership of Commissioner Kim S. Jacinto-Henares.