Courtesy: Voa News
MARIA Ressa and Rappler Holdings Corporation (RHC) have been acquitted by a Pasig court of tax evasion charges on Tuesday.
In an 18-page decision, the court stated “WHEREFORE, in view of the foregoing, the accused Rappler Holdings Corporation and Maria A. Ressa are hereby ACQUITTED in Criminal Case No. R-PSG-18-02983-CR for violation of Section 255 of the 1997 National Internal Revenue Code, as amended, on the ground that they did not commit the offense charged in the Information. Meanwhile, the civil aspect of the case is DISMISSED,” Pasig City Regional Trial Court Branch 157, under Presiding Judge Ana Teresa Cornejo-Tomacruz, ruled in its 18-page decision.
The Pasign court inn acquitting Ressa and Rappler added that the RHC did not act as a dealer in securities when it issued PDRs to North Base Media, and that the PDR transactions were just in line with the RHC’s purpose as a holding company.
“RHC did not sell the PDRS to NBM in the regular course of its business to gain profit, but issued the PDRS as part of a larger scheme to legally raise capital for its subsidiary. It is thus not liable to pay VAT on these transactions under Section 105 of the Tax Code,” the court explained.
The case at the Pasig court is just one of the 5 tax cases the Department of Justice has filed against Rappler Holdings Corporation and its president Maria Ressa
“This is a victory not just for Rappler but for everyone who has kept the faith that a free and responsible press empowers communities and strengthens democracy,” Rappler said in a statement.
