The Bureau of Internal Revenue (BIR) on Wednesday closed a trading company, A.R. Vitug Trading Inc., and four of its branches for violating the provisions of the National Internal Revenue Code of 1997, or the Tax Code on Value-Added Tax (VAT).

In a statement, the tax bureau said that the trading firm, which is located in Novaliches, Quezon City, was closed for understatement of taxable sales or receipts by 30 percent or more of correct taxable sales or receipts for the subject taxable period.

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