News About the Philippine Audit

SM defends Aquino over tax fraud By JM Agreda Friday, February 17, 2012 RETAIL whale SM defended President Benigno Aquino III amid allegations of tax fraud by a revenue informer for the sales event of a 3.4-hectare billet at Luneta Hill, claiming it was fully paid as earliest as 1997. This means President Aquino however exercised a ministerial run away in the finalization of the lot skill by having decision maker Secretary Paquito Ochoa to sign in his behalf the absolute deed of sale last September 16, 2011. The lot where the mall stands today has in like manner been a center of controversy the past weeks due to the mean mall expansi on which will endanger 182 pine and genus Alnus trees, sparking protests from different sectors of the Baguio community. In an official statement discussing the history of acquisition of SM lots obtained by Sun.Star last February 16, as early as 1988, SM already expressed its interest in buying the Luneta Hill property to protect their properties from erosion since attached lots have irregular terrain.

However, in 1992, prior to the auction sale of the lots, the Committee of Appraisal, composed of then Mayor Jaime Bugnosen and the City environs and Natural Resources officer, appraised the said lots at P1,500 per real meter, charm the Department of Environment and Natural Resources (DENR) regional executive managing director then appraised it at P1,550. When the auction date was set April 22, 1992, SM was declared as the highest bidder with a bid amount of P2,027 per hearty meter or P69,999,995.52 for the entire property with the DENR granting the Award parade on May 5, 1992. The mall chain also claimed they only conveyed 31,688 square meters of the original 34,528 square meters, as some 2,834 square meters was excluded for road right of way. However, SM denied the property was undervalued as a public bidding then was conducted, adding it was never remiss in paying taxes to government for the acquisition of the lots. It may be recalled the Philippine... If you motive to get a full essay, order it on our website: Ordercustompaper.com

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