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Rappler Holdings Corporation and its president Maria Ressa have been acquitted by the Court of Tax Appeals for three counts of failure to file tax returns and one count of tax evasion.
In an 80-page decision promulgated on Wednesday, Jan. 18, the CTA’s First Division acquitted Ressa and RHC of four cases of violation of the National Internal Revenue Code.In a decision, the CTA ruled that “accused Rappler Holdings and Maria A. Ressa are acquitted, for the failure of the prosecution to prove their guilt beyond reasonable doubt.”
“There is nothing in the wordings of the PDR Instruments and the PDR Subscription Agreements, that would show that the foreign entities NBM and ON will become owners of the shares of stock of RI upon issuance of the PDRs,” the CTA pointed out. All the above requisites are not present for the income tax liability to attach to accused RHC’s PDR transactions with NBM and ON. Neither is it liable for VAT as it is not a dealer in securities,” it pointed out.
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