Angela Montenegro-Arroyo

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