Calata Corp. said Monday the Justice Department dismissed the complaint filed by the Bureau of Internal Revenue against president and chief executive Joseph Calata for lack of probable cause.
The BIR filed a P144.49-million tax evasion case against Calata last year for allegedly failing to pay correct taxes in 2011.
Calata is the sole proprietor of Zeon Paint Service Center and the president and chief executive of Bulacan-based Calata Corp., formerly known as Planters Choice Agro-Products Inc.
BIR said it discovered a huge increase in the amount invested by the young businessman in Calata Corp. from P600,000 in 2010 to P217.7 million in 2011. Records from the BIR showed Calata declared gross sales or receipts of only P2.756 million in the period 2005 to 2011.
“After a careful analysis of the evidence and applicable laws, we find insufficient evidence to the charge respondent,” the Justice Department said.