Three firms face tax charges amounting to P113 million


The Bureau of Internal Revenue (BIR) filed P113.2-million worth tax evasion charges against three business entities that allegedly avoided paying taxes during years 2006, 2007 and 2009 up to 2012.

Trading firm Freshgold Marketing and its sole owner Alejandrio Valencia Yu were charged with tax evasion for allegedly failing to settle P82.4-million income tax returns for 2009 to 2012.

The BIR said that the trading firm allegedly underdeclared its sales and income by 393.02 percent, or P26 million in 2009; 962.96 percent, or P39.8 million in 2010; 159.5 percent, or P31.2 million in 2011; and 235.79 percent, or P33 million in 2012.

The company declared taxes of P6.6 million in 2009; P4.1 million in 2010; P19.6 million in 2011; and P14 million in 2012.

On the other hand, Albeva Konstrukt and Development Corp. (AKDC) with its president, Alberto Macaraeg and treasurer Evalyn Macaraeg, also face tax evasion charges totaling to P5.2 million, as they allegedly failed to pay P3.7-million income tax and P1.4 -million value-added tax.

Furthermore, power firm Power Generation of the Philippines Inc. (Powergen) and its corporate officers Eduardo Jose Alino and Lester Valdes were not able to pay P30.8-million worth of taxes for 2006, as their income tax deficiencies reached up to P22.8-million and P8-million value-added tax.

“BIR records of investigation showed that in spite of the service and receipt of the requisite notices, both AKDC and Powergen failed to present their books of accounts and other related accounting records for examination,” the BIR said.


Please follow our commenting guidelines.

Comments are closed.