Another Gold Trader held for Tax Evasion

The Bureau of Internal Revenue (BIR) today filed with the Department of Justice (DOJ) a criminal complaint against another Bulacan gold trader – RICHELLE SORIANO LEONARDO (LEONARDO) – for willful attempt to evade or defeat tax and willful failure to file her Annual Income Tax Return (ITR) for taxable year 2009, in violation of Section 254 and Section 255 of the National Internal Revenue Code of 1997, as amended (NIRC). 

Leonardo is a resident of No. 28 Masalipit St., San Miguel, Meycauayan, Bulacan and/or No. 6 Fatima St., Maryville Townhomes, Saluysoy, Meycauayan, Bulacan. 

Sometime in August 2010, Leonardo was included in the list given by the Bangko Sentral ng Pilipinas (BSP) to the BIR containing the names of individuals who had gold transactions with the BSP. 

Records of investigation showed that Letters of Delivery and Sale detailing the number of pieces and the weight of the gold sold by Leonardo were obtained by the BIR from BSP. The said documents disclosed that Leonardo sold a total of 43,400.347 troy ounce (oz.t.) of gold to the BSP in 2009 amounting to P2.085 billion. From the said amount, she received a net payment of P2.084 billion. 

Despite receiving taxable income from her gold transactions with the BSP, however, Leonardo failed to file her Annual ITR for taxable year 2009. Not only did she fail to file the required tax return in 2009, she also did not pay her income tax due on the same taxable year. 

Leonardo was assessed deficiency income tax for taxable year 2009 in the estimated aggregate amount of P1.22 billion, inclusive of surcharges and interests. 

The case against RICHELLE SORIANO LEONARDO is the eightieth (80th) filed under the Run After Tax Evaders (RATE) Program of the BIR under the leadership of Commissioner Kim S. Jacinto-Henares.