’FACTS WIN. TRUTH WINS.’ Nobel Prize winner Maria Ressa said this to reporters shortly after the Court of Tax Appeals acquitted her and Rappler of four counts of tax evasion. READ:
MANILA, Philippines — The Court of Tax Appeals on Wednesday has acquitted Nobel Laureate Maria Ressa and Rappler Holdings Corporation of four counts of tax evasion.
In a decision by its First Division, the Tax Court ruled in favor of acquittal for “failure of the prosecution to prove the guilt beyond reasonable doubt.”The case was filed in 2018 by the Department of Justice over the failure of Ressa and Rappler to declare a P162.41-million profit from the issuance of Philippine Depositary Receipts in 2015.
PDRs are financial instruments used by some entities to receive foreign investment without violating the constitutional requirement of full Filipino ownership.
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