• BIR: Other MLMs may follow Royale

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    THE Bureau of Internal Revenue (BIR) will run after other multi-level marketing companies that understate their income and report inaccurate information in their tax returns, BIR Commissioner Kim Henares said on Friday.

    She said the tax evasion cases against the corporate officers of Royale Business Club for tax liability of P359.75 million should serve as warning to others.

    “If the evidence warrants,” Henares said in a text message when asked if the tax bureau will also pursue cases against other companies doing multi-level marketing activities like Royale.

    Royale is a domestic corporation with the primary purpose of marketing consumer products and distributorship of food supplements, cosmetics, pharmaceutical products and beverages. Its registered address is at 1363 A. Quezon Avenue, West Triangle, Quezon City.

    Last Thursday, the BIR filed charges against the company at the Department of Justice for willful attempt to evade or defeat tax, and deliberate failure to supply correct and accurate information in the corporation’s income tax returns (ITR) for taxable years 2011, 2012 and 2013.

    The BIR said investigation Royale under-declared its taxable income by 387 percent or P151.64 million in 2011, 122 percent or P129.69 million in 2012, and 80 percent or P157.38 million in 2013.

    Royale’s total tax liability amounted to P359.75 million, inclusive of surcharges and interests, and broken down as follows: P135.87 million for 2011; P115.39 million for 2012; and P108.49 million for 2013.

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    1 Comment

    1. i knew it. Even a “legal” ponzi scheme is still illegal. Why don’t we try earning money the right way, by working hard. Is this what we’ve learned from the house of representaTHIEVES? Or our ever reliable criminals in the senate?