In-depth

CHEERS to the Philippine Center for Investigative Journalism (PCIJ) for an in-depth report on the finances and the tax cases filed against ex-Presidential son, now Ang Galing Pinoy Representative Juan Miguel “Mikey” Arroyo and his wife Angela Montenegro Arroyo.

The PCIJ.org article “Rising fortunes, falling taxes,” reviewed the Arroyo couple’s Statement of Assets, Liabilities and Net worth (SALN) and why the Bureau of Internal Revenue (BIR) filed a P73.85 billion tax evasion case against them.

The report explained  how Mikey’s net worth grew from 5 million to 76.53 million in two years (2002-2004) and  alleged irregularities in Arroyo’s  SALN.

It was also noted that his fortune flourished during the same years of his mother’s presidency – from P5.72 million in 2001 to P101.35 million in 2009.

Using the net-worth method (which was further explained in another PCIJ article “How to track, crack tax cases”) of BIR, the report was able to show and explain that despite Mikey’s claim that his only source of income is his salary as a congressman and that Angela is an income-less housewife, he had other financial transactions he failed to declare and which  the government needs to tax.

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