Binay is P1.2M richer in 2015, submits SALN late

MANILA, Philippines – Vice President Jejomar Binay’s wealth increased by P1.2 million, based on his latest Statement of Assets, Liabilities and Net Worth (SALN).

Binay’s net worth for 2015 stands at P61.48 million, higher than his P60.25 million net worth in 2014.

Both his assets and liabilities increased in his latest wealth declaration. Assets increased from P76,301,436 in 2014 to P78,318,350 in 2015.

Binay didn’t declare any new real property, but declared increases in his personal properties:

• cash on hand in banks increased from P38.84 million in 2014 to P39 million in 2015
• value of vehicles increased from P11.17 million in 2014 to P12.79 million in 2015
• worth of his “prepaid income tax/creditable withholding tax” jumped from P339,143 to P354,098

His latest SALN also shows an increase in his liabilities, from P16,050,453 in 2014 to P16,839,820 in 2015.

Late submission

All government officials and employees are required to file their SALN on or before April 30. Exempted from filing are “those who serve in an honorary capacity, laborers and casual or temporary workers.”

In the case of Binay, his SALN was received by the Office of the Ombudsman on May 11, 2016, based on the timestamp indicated on the copy of his SALN.

The Office of the Ombudsman, which receives the SALNs of the country’s president and vice president, confirmed to Rappler that they received Binay’s SALN via email past deadline.

Failure to file a SALN is punishable with 1 to 6 months suspension for the first offense, and dismissal from public service for the second offense.

There’s no clear penalty, however, for late submissions. – Rappler.com

Noa Carrasco is a Rappler intern.