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TOPIC: Will Incorpators be held liable of unpaid taxes?

Will Incorpators be held liable of unpaid taxes? 3 years 1 week ago #16964

  • Brenda Zan
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My friend put up a company last 2013 and she said that she needs 5 incorporators. She asked for my help and told me that there's nothing to worry about because corporation is safe (my personal assets are safe). She helped me once so I helped her and signed the Articles of Incorporation and By Laws that she submitted in SEC. It was written in the Articles that I have 125 shares and paid P5,000. I didn't pay anything nor receive payments from her. Now, I found out from a friend of hers that she's asking for money from our circle of friends. I contacted her and I found out that she did not pay her taxes since she opened the company and her debts are in millions already from BIR but was unable to pay because she already spent the money and the company is not earning anything. Is this tax evasion? I don't know anything about these matters but I am concerned that I may be held liable as well because I am one of her incorporators. If that is the case, what should I do? How can I remove my name as one of the Incorporators?
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