MANILA, Philippines - The Bureau of Internal Revenue (BIR) padlocked 2 business establishments in Pasig City on Friday due to several tax violations.
In a statement, the country's main tax agency said it shut down sister firms PIC Enterprises Inc. (PICEI) and Product Industrial Contractors (PIC), both located along C. Raymundo Avenue in Maybunga, Pasig.
The companies were issued closure orders on February 16, 2011 by the Operations Group of BIR Deputy Commissioner Nelson Aspe after they failed to meet the 48-hour and 5-day compliance notices issued them.
Both were found to have underdeclared by as much as 100% their taxable sales from 2007 to 2009.
PICEI and PIC owe the government P44.5 million and P3.4 million in tax deficiencies, respectively.
The twin closures were made pursuant to the Oplan Kandado flagship project of the BIR under the leadership of Commissioner Kim Jacinto-Henares.