Cunanan denies tax evasion charges

Posted at 11/04/2010 5:08 PM | Updated as of 11/04/2010 11:00 PM

MANILA, Philippines - Former pension fund chair Thelmo Cunanan denied the tax evasion raps filed against him by the tax bureau on Thursday.

In a statement released to the media, Cunanan, former chair of the state-run Social Security System (SSS) belied reports that he failed to declare his income as a director in Philex Mining, Unionbank, First Philippine Holdings Corp., and Belle Corporation for the years 2005, 2006 and 2007.

"In truth and in fact I faithfully filed my Income Tax Returns for those years, together with W-2 forms issued by the abovementioned companies, which I attached to my ITRs for those years," said Cunanan.

He issued the statement from Fuda Hospital in Guangzhou, China where he is confined for cancer treatment.

The Bureau of Internal Revenue (BIR) has filed the tax evasion raps against Cunanan, former SSS chief Romulo Neri, and other officials of the pension fund for allegedly under-declaring their income from private companies where SSS has an investment. 

Neri, too, has denied the charges.