WILLIAM VILLARICA PAWNSHOP OWNER BUYS P26 MIL LAMBORGHINI YET NOT PAID INCOME TAXES FOR 8 YRS
newsinfo.inquirer.net PAWNSHOP OWNER – MORE CARS, MORE TAX TROUBLES By TJ Burgonio Philippine Daily Inquirer First Posted 05:49:00 07/22/2010 Filed Under: State Budget & Taxes, Crime and Law and Justice MANILA, Philippines—Pawnshop owner William R. Villarica also drives a Ferrari, a Bentley and a Mercedes-Benz SLR McLaren, and because of that, he could face more charges in court. The Bureau of Internal Revenue (BIR) has made a startling discovery about Villarica’s collection of expensive cars and is bent on filing more cases against him, Commissioner Kim Jacinto-Henares said Wednesday. Until the discovery, the agency was only aware that Villarica purchased a 2006 Lamborghini in 2007 for P26 million, but has failed to pay his income taxes for several years, she said. “That’s just one of his cars. There are other cars. There’s a Ferrari. We have information that he has a Bentley. He has Mercedes SLR McLaren. He has a Beetle; the new one, and several other Toyota MR-S,” she said in a Malacañang briefing. Growing case “So our case is only based on the P26 million [car]. It can grow,” she added. The BIR has filed a tax evasion case against Villarica, the sole proprietor of W. Villarica Pawnshop, who paid a total of only P25,067.25 in taxes from 1998 to 2009. He stopped filing income tax altogether from 2002 to 2009, except for 2007 when he filed a return with zero tax payments despite buying the Lamborghini, according to the BIR. Henares, however, conceded that it would be …