Philippine new tax chief determined to collect $3.7 billion in outstanding tax from Marcos family

The Marcos family owes the Philippine taxman nearly $4 billion

The Philippines’ incoming tax agency chief Lilia Guillermo said she intends to collect the long-due estate tax from the family of President-elect Ferdinand Marcos Jr., taking on an issue that has been with the courts for decades.

Guillermo, who – ironically – was appointed by Marcos Jr. to serve in his incoming administration as head of the Bureau of Internal Revenue, told ABS-CBN News in an interview on June 22 that there was “no doubt” that the agency would collect the controversial tax liability.

However, she explained that she needs to see and check respective court documents first and ascertain whether the amount due in estate tax of the Marcos family is indeed 203 billion pesos ($3.7 billion). If it turns out there is a need to collect all of the tax, she said she would tell Marcos Jr. to be a “role model” for Philippine tax payers and clear the bill.

Court ruling goes back to 1997

In 1997, the Supreme Court ordered the heirs of late Philippine dictator Ferdinand Marcos to pay 23 billion pesos ($421 million) in estate tax. The order became final and executory in March 1999. The total amount is estimated to have currently reached around 203 billion pesos due to accumulating penalties and surcharges.

If the amount is “final and executory,” the Bureau of Internal Revenue would carry out its mandate to collect the tax debt, Guillermo added.

“Pending issue,” says Marcos Jr.

The Marcos camp said during the presidential campaign that the tax issue “is still pending in court” and that the fair tax base for calculating the liability arising from the late dictator’s estate can in fact not be ascertained.

Guillermo, a central bank assistant governor who previously served in the Bureau of Internal Revenue for 30 years, was nominated to head the tax agency on recommendation of incoming finance secretary and outgoing central bank chief Benjamin Diokno.

Past tax chiefs in the Philippines have tried to collect the liabilities, with the latest written demand sent to the Marcos heirs in December last year, but to no avail.



Support ASEAN news

Investvine has been a consistent voice in ASEAN news for more than a decade. From breaking news to exclusive interviews with key ASEAN leaders, we have brought you factual and engaging reports – the stories that matter, free of charge.

Like many news organisations, we are striving to survive in an age of reduced advertising and biased journalism. Our mission is to rise above today’s challenges and chart tomorrow’s world with clear, dependable reporting.

Support us now with a donation of your choosing. Your contribution will help us shine a light on important ASEAN stories, reach more people and lift the manifold voices of this dynamic, influential region.

 

 

[caption id="attachment_38558" align="alignleft" width="300"] The Marcos family owes the Philippine taxman nearly $4 billion[/caption] The Philippines’ incoming tax agency chief Lilia Guillermo said she intends to collect the long-due estate tax from the family of President-elect Ferdinand Marcos Jr., taking on an issue that has been with the courts for decades. Guillermo, who – ironically – was appointed by Marcos Jr. to serve in his incoming administration as head of the Bureau of Internal Revenue, told ABS-CBN News in an interview on June 22 that there was “no doubt” that the agency would collect the controversial tax liability. However, she...

The Marcos family owes the Philippine taxman nearly $4 billion

The Philippines’ incoming tax agency chief Lilia Guillermo said she intends to collect the long-due estate tax from the family of President-elect Ferdinand Marcos Jr., taking on an issue that has been with the courts for decades.

Guillermo, who – ironically – was appointed by Marcos Jr. to serve in his incoming administration as head of the Bureau of Internal Revenue, told ABS-CBN News in an interview on June 22 that there was “no doubt” that the agency would collect the controversial tax liability.

However, she explained that she needs to see and check respective court documents first and ascertain whether the amount due in estate tax of the Marcos family is indeed 203 billion pesos ($3.7 billion). If it turns out there is a need to collect all of the tax, she said she would tell Marcos Jr. to be a “role model” for Philippine tax payers and clear the bill.

Court ruling goes back to 1997

In 1997, the Supreme Court ordered the heirs of late Philippine dictator Ferdinand Marcos to pay 23 billion pesos ($421 million) in estate tax. The order became final and executory in March 1999. The total amount is estimated to have currently reached around 203 billion pesos due to accumulating penalties and surcharges.

If the amount is “final and executory,” the Bureau of Internal Revenue would carry out its mandate to collect the tax debt, Guillermo added.

“Pending issue,” says Marcos Jr.

The Marcos camp said during the presidential campaign that the tax issue “is still pending in court” and that the fair tax base for calculating the liability arising from the late dictator’s estate can in fact not be ascertained.

Guillermo, a central bank assistant governor who previously served in the Bureau of Internal Revenue for 30 years, was nominated to head the tax agency on recommendation of incoming finance secretary and outgoing central bank chief Benjamin Diokno.

Past tax chiefs in the Philippines have tried to collect the liabilities, with the latest written demand sent to the Marcos heirs in December last year, but to no avail.



Support ASEAN news

Investvine has been a consistent voice in ASEAN news for more than a decade. From breaking news to exclusive interviews with key ASEAN leaders, we have brought you factual and engaging reports – the stories that matter, free of charge.

Like many news organisations, we are striving to survive in an age of reduced advertising and biased journalism. Our mission is to rise above today’s challenges and chart tomorrow’s world with clear, dependable reporting.

Support us now with a donation of your choosing. Your contribution will help us shine a light on important ASEAN stories, reach more people and lift the manifold voices of this dynamic, influential region.

 

 

NO COMMENTS

Leave a Reply