GenCorp's P520-M revenue growth, P250-M tax gap probed at VP trial
Manila, Oct. 12 -- The rapid expansion of GenCorp Industries Inc. from a PHP28-million business into a company generating more than PHP520 million in annual revenue came under examination at the Senate impeachment court on Monday, as a forensic expert acknowledged that its financial records did not clearly establish the sources of its funding.
The scrutiny extended to an estimated PHP250 million in unpaid corporate taxes and approximately PHP211 million in alleged undeclared wealth attributed to Vice President Sara Duterte based on her assumed ownership interest in the company.
During the hearing, Sen. Francis Pangilinan questioned forensic expert Alexander Cabrera about GenCorp's financial growth from 2021 to 2025 despite having only P...
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