Calata owner sued for tax evasion
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MANILA – The government has sued the owner of Calata Corporation for tax evasion.
In a statement, the Bureau of Internal Revenue (BIR) said it filed with the Department of Justice (DOJ) a criminal complaint against Joseph H. Calata for failing to pay the government P144.49 million in income taxes for taxable year 2011.
Calata is the president and chief executive officer of the company that bears his name, formerly Planters Choice Agro-Products Inc, which is engaged in the trading of agricultural products. He is also the sole proprietor of Zeon Paint Service Center.
The tax evasion case against him stemmed from a huge increase in the amount he invested in Calata Corporation – from P600,000 in 2010 to P217.699 million in 2011 – which according to the BIR couldn’t be accounted for by the gross sales of P2.756 million declared from 2005 to 2011.
The BIR said Calata’s annual income tax returns for taxable years 2009 to 2010 showed P10,000 paid each year and P100,000 in 2011.
Calata Corporation listed at the Philippine Stock Exchange in 2012. From distributing feeds and fertilizers, the company has ventured into meat trading, having acquired the Galicia Group’s Brookfields Meat Inc, which supplies SM and Puregold supermarkets.
CAL today was down 5.41 percent at P3.50 a share. CAL is the stock symbol of Calata.