You can certainly show off how much you have and how much you are spending—-but make sure you are paying your taxes, else you will end up being in a big MESS.
A wealthy young Philippine woman is being investigated over tax evasion after she posted pictures of her privileged lifestyle online.
According to MailOnline;
Jeane Napoles, whose mother is being investigated as part of the Philippines’ biggest ever fraud case, used social networking sites to post pictures of her life in the US.
Featuring designer dresses, jewel-encrusted shoes and fast cars, the posts drew condemnation from those in her home country where an estimated 28 per cent of people live in poverty.
But the photographs also drew the attention of the Bureau of Internal Revenue, who are now investigating the 23-year-old for tax fraud.
Kim Henares, chief of the Philippine Bureau, said: ‘We read the newspapers. We follow the Internet. That is where we heard about her.’
Miss Napoles, a fashion design student, owns a Los Angeles condominium at the Ritz Carlton, valued at $1.3million (£795,000), as well as another property worth $339,000 (£212,000) in her home country.
ABS-CBN news has since reported that the American property is up for sale.
According to Ms Henares the young woman had not filed any US tax returns since 2008, despite being a registered taxpayer.‘We have always said there is nothing wrong with being rich as long you pay the right taxes’ Ms Henares added.
The socialite’s tax liabilities were calculated to be $744,000 (£465,000) for the last two years alone.
Janet Napoles, a businesswoman and Jeane’s mother, is being investigated for allegedly helping Philippine MPs embezzle up to $232million (£145million).
Three opposition senators as well as former president Gloria Arroyo, who is in jail for election fraud and graft, are among those swept up in the investigation.
They could face criminal charges for misuse of funds.
Ms Henares denied any political motive in prosecuting the daughter and said she is merely enforcing tax laws.
‘Whether it is her fault or her mother’s fault, someone will go to jail,’ said Ms Henares.