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Business

BIR closes plumbing supply firm for evading VAT payment

- Iris Gonzales -

MANILA, Philippines - The Bureau of Internal Revenue (BIR) padlocked yesterday a plumbing supply firm in Quezon City for allegedly evading payment of value added taxes (VAT) amounting to P7.2 million.

BIR Deputy Commissioner for Legal and Enforcement Gregorio Cabantac issued the closure order against B.M. Centre (Phils.) Inc. located at No. 7 Del Pilar St., Brgy. San Roque, Murphy, Quezon City.

The order was based on the findings of an investigation team by revenue officers from RDO office no. 40 who conducted a surveillance of the operations of the company last month.

According to the BIR’s investigation, B.M. Centre underdeclared by 100 percent its taxable sales from 2007 to 2009 resulting in a VAT deficiency totaling P7.2 million.

The BIR said the company failed to pay VAT of P2.3 million in 2007, P3.2 million in 2008 and P1.7 million from January to August 2009.

Cabantac said the temporary closure of the company is part of the agency’s efforts to go after tax cheats.

“The BIR shall relentlessly run after tax cheats. The public must understand that it is the obligation of every citizen to pay correct taxes and when we avoid paying taxes, we are also depriving our people much-needed funds for basic services and development,”Cabatac warned.

The closure, Cabantac added, is part of the intensified implementation of the BIR’s “Oplan Kandado” Program and the Run After Tax Evaders (RATE) Program which he heads.

The implementation of the two programs has allowed the BIR to surpass its goal for the first two months of the year, he said.

The BIR has collected P113 billion in January and February or about P8.6 billion over its goal of P104 billion for the period.

Cabantac expressed optimism that the agency would achieve its goal for the whole year amounting to P830 billion.

vuukle comment

BIR

BUREAU OF INTERNAL REVENUE

CABANTAC

DEL PILAR ST.

DEPUTY COMMISSIONER

JANUARY AND FEBRUARY

LEGAL AND ENFORCEMENT GREGORIO CABANTAC

OPLAN KANDADO

PROGRAM AND THE RUN AFTER TAX EVADERS

QUEZON CITY

SAN ROQUE

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