• BIR closes trading company for sales underdeclaration

    0

    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.

    Also closed were its four branch offices, namely: V&W Trading and A.R. Vitug Trading Inc. both located in Novaliches, Quezon City; and Pangarap Trading and Vi-Will Trading located in Caloocan City.

    “The subject business establishment and its four branches were the subject of overt surveillance operations conducted by a team of Revenue Officers of Revenue District Office 28, Novaliches, for the period covering August 27, 2013 to September 6, 2013,” the BIR stated.

    The BIR records showed that A.R. Vitug Trading is registered as a VAT taxpayer and has filed VAT returns and declared therein taxable sales or receipts, particularly for taxable years 2012 and 2013.

    Share.
    loading...
    Loading...

    Please follow our commenting guidelines.

    Comments are closed.