Thursday, January 26, 2012

Salary and Assets of Renato Corona

The prosecution team of the House of Representatives on Wednesday said it has proven that the salary of Supreme Court Chief Justice Renato Corona was not enough to afford his acquired properties, citing the testimony of Bureau of Internal Revenue (BIR) Commissioner Kim Jacinto-Henares.

Marikina Rep. Romero Quimbo, one of the prosecution’s spokesmen, in a press briefing, claimed the chief justice accumulated P200 million worth of properties "that are not supported by his compensation income."

"Malinaw na umabot ang assets (sa halagang) hindi naman kaya suportahan ng kanyang sahod... Sa kabila ng pagpapababa ng value, malaki pa rin ang disparity sa salary niya at sa assets na accumulated niya," he said.

In today's impeachment trial, Henares testified that the chief justice earned up to P657,000 during his tenure at the Supreme Court.

She also said that Corona did not file income tax returns (ITRs) from 2002 to 2010, but stated there was nothing wrong with this as the chief justice was on the "alpha list" of the Supreme Court.

Henares said that the Alpha List was being submitted to the BIR at the end of every year. It enumerates all employees of an employer and how much tax was withheld from their income.

Based on the testimony of the BIR chief and the documents submitted to the Senate impeachment court, Quimbo said the House prosecution was able to establish that the chief justice has no other means of income besides his earnings at the SC, since his assets are declared through the alpha list and not through ITRs.

He noted that under Republic Act 1379, or the Forfeiture Law, assets that are larger than one’s income are "presumed to be ill-gotten."

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