• Bacolod trading firm faces tax evasion case

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    The Bureau of Internal Revenue (BIR) has filed criminal complaint before the Department of Justice against KIM’S Marketing Inc. (KIM’S) in Bacolod City, with its corporate officers – president Mark C. Gomez, scretary/teasurer Adelita P. Gebusion, and mnager Wong Yuk Kam, for willful attempt to evade or defeat tax; deliberate failure to pay taxes; willful failure to supply correct and accurate information in its Income Tax Return (ITR) and Value Added Tax Returns (VATR); and Perjury for taxable year 2011, in violation of Sections 254 and 255 in relation to Sections 253(d), 256 and 267 of the National Internal Revenue Code of 1997, as amended (Tax Code). The case stemmed from a computerized matching process that found a discrepancy between the amount of purchases declared in KIM’S VATRs and the amount of sales reported by its suppliers in 2011. The Summary Lists of Sales submitted by its suppliers – Century Canning Corporation, Knotsberry Farms Mfg. Co. Inc., Snow Mountain Dairy Corp., The Pacific Meat Co. Inc., and Prudential Guarantee and Assurance Inc. – disclosed they made sales to KIM’S amounting to P3.99 million, P4.77 million, P1.33 million, P7.04 million, and P51,444.21, respectively. The said purchases amounting to P17.18 million were not reflected as purchases in the tax returns filed by KIM’S.

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