Rising fortunes, falling taxes

THEY ARE EQUATIONS that are simple enough for anyone to follow: Anyone who acquires more properties and assets – net of liabilities – should have earned much more to be able to cover these investments.

Anyone who incurs huge loans should have been creditworthy to be trusted as capable of paying up.

Anyone who sells any properties should have earned from the deal, and paid the taxes due on such sale.

Anyone who receives a donation or inheritance has grown more in wealth, and both donor and donee, as well as the source of bequest, should have paid donor’s or estate taxes.

Read more at Philippine Center for Investigative Journalism

Con Yap

  • Bert

    “Does Pilipinas Supreme Court can ruling in favor of a Cojuangco mean that a Pilipinas Supreme Court can rule in favor of an Arroyo?”-UP n

    You mean the present Supreme Court, UP n?

    You have to remember that during GMA’s time, Danding and Gloria were BFF, :).

    As to your question, my answer is this:

    I will bet my bottom dollar the present Supreme Court definitely can.

  • UP nn grad

    Hah! GabbyD is right, so the possibility is there that Mikey tax-return-charge — just pogi-points — and Mikey pays zero with “..case dismissed, insufficient evidence” like Supreme Court did re Danding.

    Or maybe not… maybe “daang matuwid” works on the Mikey tax-returns.

  • UP nn grad

    Does Pilipinas Supreme Court can ruling in favor of a Cojuangco mean that a Pilipinas Supreme Court can rule in favor of an Arroyo?

    Abangan ang susunod na kabanata. [Of course, Noynoy may want to replace/impeach one or more of Supreme Court members…. abangan.]

    • GabbyD

      “Pilipinas Supreme Court can rule in favor of an Arroyo?”

      they already have, dont u remember?

  • UP nn grad

    Rising fortunes…. heh heh heh. And it is Pilipinas Supreme Court who says so. Lacierda says no-comment muna si Persidente Noynoy.

    On Tuesday, the Supreme Court (SC) ruled that Cojuangco’s 20-percent stake in San Miguel Corp. (SMC) does not form part of the so-called coco levy funds and does not belong to the Philippine government.

    The Sandiganbayan ruled that Cojuangco, as chairperson of SMC, is the rightful owner of the contested shares.

    In affirming the Sandiganbayan ruling, the Supreme Court said “The block of shares in San Miguel Corp. in the names of respondent Cojuangco, et al…. the exclusive property of Cojuangco et al. as registered owners.”

  • Bert

    Like Merceditas, Mikey’s goose is cooked, too.