BIR closes Sorsogon hardware for tax deficiencies » Manila Bulletin News

Manila Bulletin Philippines

Breaking News from the Nation's leading newspaper

Tempo

Online Newspaper

Showbiz and Celebrity News

Sports News

World News
News Asia

BIR closes Sorsogon hardware for tax deficiencies

Published

By Jun Ramirez

LEGAZPI CITY – The Bureau of Internal Revenue (BIR) has padlocked a hardware in Sorsogon City for allegedly under-declaring its annual sales by more than 1,280 percent.

Bicol Revenue Regional Director Dante Aninag said the owner of the Collen’s General  Merchandise failed to show up to correct the tax  deficiencies, prompting him to recommend to higher authorities the closure of the store.

Investigation showed the firm was not registered as a value-added taxpayer (VAT) despite the fact that its annual gross sale was over the P3 million VAT threshold.

It declared gross sales of only P1.4 million last year, and paid the lower three percent percentage tax, instead of the 12 percent VAT.

Aninag said Collen will remain closed until the back accounts are settled.

Related Posts