BIR closes 2 commercial establishments
ZAMBOANGA CITY, Philippines/06 August 2009 by BP Garcia–The Bureau of Internal Revenue (BIR), backed up by the National Bureau of Investigation (NBI) and police operatives, has padlocked two foreign-owned commercial establishments Thursday in this southern port city.
BIR district chief Roberto Bucoy said the closure is part of the campaign of his office against businessmen violating the law on taxation.
Bucoy said owners, who are Korean nationals, have committed several violations stipulated under the law and one of which is the under statement of their Value Added Tax (VAT) declaration by more than 30 percent.
Bucoy said the declaration the understatement by more than 30 percent is penalized by closure order under the law.
The two business establishments that were padlocked deals assorted dry goods and hardware products located along Juan S. Alano and Pura Brillantes Streets, according to Bucoy.
The BIR has strengthened its campaign in monitoring the different business establishments to ensure the owners pay the right taxes to the government.
Bucoy said the closure of the two establishments would serve as a stern warning to all of the businessmen doing business in this southern port city.
Bucoy’s office has given five days grace period to the owners of the two business establishments to comply the requirements under the law to be able to resume business. (BP Garcia, The PhilSouth Angle)
