SILANG, Cavite: The Bureau of Internal Revenue (BIR) closed Jims Engineering and Construction (Jimsec) for allegedly violating some provisions of the Tax Code of the Philippines.
The construction firm located in Silang, Cavite that is owned and operated by a certain Ronald Galvez Matanguihan was cited for its failure to report its correct taxable sales/receipts for 2011.
The closure order, which was signed by BIR Deputy Commissioner for the Operations Group Nelson M. Aspe and implemented last May 14, 2015, was part of the agency’s flagship project Oplan Kandado.
The case against Jimsec was a result of the data validation gathered from Third Party Information conducted by Revenue Officers of Revenue District Office No. 54A, Trece Martirez, South Cavite. The agency affirmed that the business establishment did not declare correct sales, which is subject to value added tax (VAT).
The BIR investigators discovered that Jimsec substantially under declared its correct taxable sales/receipts by 1,063.38 percent or by P67.4 million.
A 48-hour Compliance Notice and a five-day VAT Compliance Notice was issued by the BIR. The firm failed to comply with and rectify the findings of the agency so a suspension was implemented.
A closure order was recommended by Revenue District Officer Editha Calipusan, which was concurred by Revenue Region No. 9, San Pablo City Assistant Regional Director Clavelina S. Nacar and Regional Director Jose N. Tan.