BIR-Davao shuts down 5 establishments
May 21, 2015 at 08:51am
BIR-Davao Director Glen Geraldino said these companies violated the Tax Code of 1997, specifically the under-declaration by more than 30 percent of their sales, non-issuance of official receipts and issuance of unregistered receipts.
"I'm warning all of the tax payers to please cooperate with the government to avoid closure," Geraldino said.
Closed were Lkk Motor Parts and Supply, Davao Unirich Motorcycle Parts, Davao Unisun Motorcycle Parts, GTC Cycle Center, and Kim Hong Motorcycle Parts.
Kim Hong Motorcycle Parts has a VAT liability of P1.2 million with a 97 percent under-declaration rate; Lkk Motor Parts and Supply has a VAT liability of P588,069 with 88 percent under-declaration rate; Davao Unirich Motorcycle Parts has a VAT liability of P232,769 with 63 percent under-declaration rate; Davao Unisun Motorcycle Parts has a VAT liability of P309,245 with 69 percent under-declaration rate; and GTC Cycle Center has a VAT liability of P117, 384 with 39 percent under-declaration rate.
The closure of five companies brought the number of establishments penalized by BIR-Davao to 57 under the agency's Oplan Kandado Program.
"After this, we will surely comply with the requirements and obligations in order to avoid this (closure) from happening again," Davao Unirich owner Dennis M. Tai said.
Geraldino said business operations can only resume if these companies comply with their obligations within five days.
The BIR will also conduct post-checking on the compliance of the tax violators.
The agency earlier shut down 14 Jaltan stores. BIR-Davao is eyeing to close 50 more erring establishments this year.
Source: sunstar.com.ph
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