BIR shuts 2 Quiapo trading stores for tax evasion


Posted at Nov 21 2013 04:11 PM | Updated as of Nov 22 2013 12:11 AM

MANILA, Philippines - The Bureau of Internal Revenue (BIR) on Thursday ordered the closure of two Quiapo-based trading establishments, allegedly owned by an unnamed Chinese national, over alleged failure to file income tax and VAT payments.

In a statement, the BIR said Mantext Marketing and Pop Trading and their warehouses in Quiapo and Malabon were shuttered due to failure to file income tax and VAT payments. Their office address is 462 C. Palanca St., Quiapo, Manila.

The BIR said Mantext and Pop Trading are owned by Ariel Acusta Amor and Arnold June Layugan respectively.

But the BIR said the two companies, which are said to be engaged in the retail and wholesale of speakers, are allegedly owned by an unnamed Chinese national.

Mantext failed to file its ITR and VAT returns for 2010, 2011, 2012 and first semester of 2013. The BIR estimated that Mantext's VAT liability is at P7.42 million.

Hardware shop also shuttered

Meanwhile, the BIR also temporarily closed the operations of hardware shop Go N' Buy Trading in Dasmariñas City, Cavite for failure to declare its correct taxable sales and pay deficiency VAT.

Go N' Buy, located along Aguinaldo Highway, San Agustin II, Dasmariñas City, is owned and operated by a certain Jeff Aldea Go.

The BIR conducted a surveillance operation on the hardware shop from May 8-28, after it received a reprot that the shop did not issue sales invoice but delivery receipt instead.

During surveillance operations, subsidiary sales and purchase journals were not presented and sales covered by delivery receipts were not reported in the VAT returns for the 1st quarter and April of this year.

The BIR estimated sales of the hardware store was P286.45 million for taxable year 2012 and P71.61 million for the 1st quarter of 2013. Compared with subject taxpayer’s VAT declaration with the BIR, taxable sales was underdeclared by 100% for 2012 and 94.68% for the 1st quarter of 2013.

The deficiency VAT liability of Go N' Buy Trading was computed at P33.79 million for taxable year 2012 and P8.14 for taxable year 2013.