It is a high-profile court win for Rappler CEO Ressa, who was earlier convicted for cyber libel over a 2012 story she did not write nor edit. Read more at straitstimes.com.
MANILA – The Philippines’ embattled Nobel Peace Prize winner Maria Ressa on Wednesday scored a legal victory after the country’s tax court acquitted her and her news organisation Rappler Holdings Corporation of four tax evasion charges.
The DOJ had argued that Rappler’s issuance of Philippine Depositary Receipts to foreign investors Omidyar Network and North Base Media generated taxable income worth 141.86 million pesos that the digital media company did not declare in 2015. A month before the DOJ filed the tax cases, Omidyar had already donated its PDRs to 14 Rappler managers.
But Ressa and Rappler denied the charges, saying the PDR transactions were meant to raise capital. They argued that PDRs are legitimate financial mechanisms that do not generate taxable income.This is a high-profile court win for Rappler and its co-founder and CEO Ressa, who was earlier convicted for cyber libel over a 2012 story she did not write nor edit.
The PDRs cited in the tax cases were also the reason the Philippines’ corporate watchdog revoked Rappler’s licence for allegedly violating the country’s anti-dummy law and constitutional restrictions on foreign ownership.
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