Assessors testify on Corona’s pricey condo units

AN ASSESSOR from Taguig City presented to the Senate impeachment court Thursday documents showing the tax declarations of Chief Justice Renato Corona’s high-end condominium units, which were not publicly declared for the years during which they were bought.
House prosecutors alleged that Corona concealed the existence of the Bellagio penthouse and the Bonifacio Ridge unit in his statement of assets and liabilities and net worth (SALN) in 2004 and 2009, respectively.
These properties were declared only in 2010 as the prosecution anchored its argument that Corona should be removed from office for betrayal of public trust in his failure to disclose some assets and cash deposits in his SALN.
During the trial, Engr. Roberto Villaruz, officer-in-charge of Taguig assessor’s office, said Corona’s Bellagio condominium unit has a fair market value of P5,827,200 and assessed value of P3,496,320.
Three parking spaces were also named under Corona, which has a fair market value of P240,000 and an assessed value of P144,000.
Last January, Giovanni Ng, finance director of Bellagio developer Megaworld Corp., testified the Coronas bought a 303-square-meter penthouse for P14.5 million in 2009 through three installments.
For the Bonifacio property, which was bought for P9.15 million, Villaruz presented a tax declaration showing that the unit has a market value of P2,369,980 and assessed value of P1,421,990.
He also turned over to the court a tax declaration on the P6.19-million McKinley Hill property named under Corona’s daughter Maria Charina. It was purchased in October 2008.
For his part, Rodolfo Ordanes, officer-in-charge of Quezon City assessor’s office, testified on the tax declarations of Corona’s properties in Burgundy Plaza, Xavierville subdivision, Ayala Heights, and the posh La Vista.
Earlier, lawyer Ramon Esguerra said Corona earned P26 million in the sale of his properties in La Vista and Ayala Heights in 2010.
The Chief Justice likewise owns a P3.5-million condominium unit in The Columns in Makati that was not listed in his SALN from 2003 to 2009 and was only declared in his 2010 filing. An assessor from Makati will be presented by the defense panel next week to submit a tax declaration on this property.
Debate on acquisition cost
Lacking in the equation, however, is the acquisition costs of the properties, which private prosecutor Jose Benjamin Panganiban said should be declared in the SALN.
Also, Panganiban said Corona is obliged to declare the acquisition costs with city assessor’s office under the Local Government Code.
“The properties purchased have different values in terms of acquisition cost and in terms of market values as reflected (in the SALN). There being a discrepancy, acquisition cost is higher,” he said.
But Villaruz said he is unaware if Corona made any such declaration.
At this juncture, Senator Aquilino Pimentel III stood and explained to the floor that assessors can make the declaration if the owner fails to list the acquisition cost.
This is provided under Section 204 of Republic Act 7160 (Local Government Code), which states that in case the property owner “refuses or fails for any reason to make such declaration within the time prescribed, the provincial, city or municipal assessor shall himself declare the property in the name of the defaulting owner, if known, or against an unknown owner, as the case may be, and shall assess the property for taxation in accordance with the provision of this Title.” (Virgil Lopez/Sunnex)

Source: http://www.sunstar.com.ph/manila/local-news/2012/03/15/assessors-testify-coronas-pricey-condo-units-211397
The best getaway destination vacation spot near Manila convenient safe and accessible is Clearwater Beach Resort in Clark Pampanga.

Quiet place for rest and relaxation near Manila, in Subic, Angeles City Pampanga and Clark Philippines is something that residents of Manila travelling to the north for a short getaway are looking for. Clark is already a popular destination for golfers from Manila. Clark Freeport offers some of the best golf courses in Pampanga and outshines many golf clubs and golf courses elsewhere in the Philippines. Clark Pampanga offers many good resorts and hotels for a short trip out of Manila, and Clearwater is one of the best places to relax and unwind for a weekend getaway or a short holiday in Pampanga.

This private resort in Pampanga is a frequently visited vacation spot outside of Manila. Included in the list of resorts highly recommended for families with children visiting Clark Philippines is Clearwater Resort located conveniently in the central business district of Clark Freeport which is accessible from Manila.

Free internet WIFI access is offered to guests of this famous hotel in Clark Pampanga. Guests can even connect to Internet WIFI service near the white sand beach, by the famous lake of Clark or in any of the picnic grounds around this resort. This hotel in Clark Philippines is generally considered by Manila residents to be a good place for family trips in Pampanga.

Highly recommended summer vacation destination outside Manila is Clearwater Beach Resort in Clark, a safe and convenient tourist spot that offers natural ambience for visitors to enjoy the outdoors with no stress. Private resort is frequently visited during Holy Week and Easter Holidays for residents of Manila travelling out of town on getaway to the north to unwind and relax in outdoor resort.

For reservations, comments and inquiries,

Clearwater Resort & Country Club
Creekside Road corner of Centennial Road,
Central Business District, Clark Freeport Zone,
Pampanga, Philippines 2023

Tel: (045)599-5949 0917-520-4403 0922-870-5177

Manila Sales Office
3003C East Tower, Phil Stock Exchange Center,
Exchange Rd Ortigas Metro Manila, Philippines 1605
(632) 637-5019 0917-520-4393 Rea or Chay

http://www.ClearwaterPhilippines.com

Email: Inquiry@ClearwaterPhilippines.com

Getting to this hotel in Clark Philippines
After entering Clark Freeport from Subic, Manila, Dau and Angeles City, proceed straight along Clark’s main highway MA Roxas, passing Clark’s largest wine shop called Clark Wine Center on your right, continue to bear right making no turns at all, go past Mimosa Leisure Estate on the opposite side of the road, you will hit a major intersection. Go straight and the road becomes Creekside Road. YATS Clearwater Resort and Country Club is on your right just 200m down. Traffic in Clark Philippines is light so it should be quite easy for get to this hotel in Clark Philippines.

For inquiries and bookings, Youmay click here to contact Clearwater Resort for inquiries and reservations

Wedding couples looking for wedding reception venues and beach wedding venues can log on to this Philippines Wedding Venue web site for free information and assistance:

http://www.PhilippinesWeddingVenue.com

While in Clark, it might be a good idea to enjoy an evening of wine-and-dine in the fine dining Yats Restaurant and Wine Bar that features an award winning 2700-line wine list. It is located in Mimosa Leisure Estate of Clark Freeport Zone. For more information, visit http://www.YatsRestaurant.com

YATS Leisure Philippines is a developer and operator of clubs, resorts and high-class restaurants and wine shops in Clark Angeles Philippines http://www.YatsLeisure.com

While in Clark, one might as well add to the itinerary a visit to the famous Clark Wine Center, the largest wine shop in Philippines which offers over 2000 selections of fine vintage wine from all wine regions, vintages spanning over 50 years covering all price ranges.
http://www.ClarkWineCenter.com

Looking for famous tourists spots, places to visit and see, relax and unwind in Clark, Pampanga, Philippines? You may want to check out these sites also:

http://www.LondonPubClark.com

http://www.HotelClarkPhilippines.com

http://www.ClarkPhilippines.com

http://www.YatsWineCellars.com

For jobs and business investment opportunities in the Philippines please visit http://www.yilp.com