‘JUSTICE WILL ALWAYS PREVAIL’ Lawyer Chel Diokno congratulates Maria Ressa on her acquittal in the tax evasion cases filed against her and Rappler Holdings. Read about the verdict here:
that it evaded tax payments when it raised capital through its partnership with foreign investors North Base Media and Omidyar Network . This involved the issuance to the two entities of Philippine Depositary Receipts or PDRs, financial instruments commonly used even among media companies like ABS-CBN and GMA Network.In an 80-page decision, the court ordered the acquittal of Ressa and RHC for “failure of the prosecution to prove their guilt beyond reasonable doubt.” The decision was signed by.
An emotional Ressa said after the verdict: “Today, facts win, truth wins, justice wins,” calling for freedom of detained former senator Leila de Lima and jailed journalists like Frenchie Mae Cumpio. De Lima will begin her seventh year in prison in February, while Cumpio will begin her fourth year also in February.
“Since accused is not required to pay the income tax and VAT on the PDR transactions for the taxable year 2015, the elements of Sections 254 and 255 of the 1977 NIRC as amended, are rendered nugatory and without legal support. The plaintiff therefore failed to prove the guilt of accused beyond reasonable doubt,” said the CTA decision.
Ressa’s lawyer Francis Lim, the former president of the Philippine Stock Exchange, said that if PDRs were declared to be taxable income just to convict Ressa and Rappler, every business seeking to raise capital would be affected. “At the end of the day, it’s our economy, it’s our people through job generation that will benefit. Imagine if Maria was convicted, the repercussions,” said Lim.Lim also said: “We had no doubt this day would come.
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