P341-M tax raps filed vs plastic traders

-A A +A

Thursday, February 13, 2014

MANILA -- Two officers of plastic trading company Chemvision Inc. were charged before the Department of Justice (DOJ) on Thursday for not paying P341.13 million in taxes to the Bureau of Internal Revenue (BIR) in 2011.

Charged were Chemvision president Te Go Lee Chang and treasurer Tiffany Hazel Lee Chang for violating Sections 254, 255 in relation to Sections 253 and 256 of the National Internal Revenue Code of 1997.

The BIR said it investigated the firm last year for income tax and value added tax (VAT) discrepancies.

In its reply, Chemvision asked the BIR to refer the audit to the agency's office in Batangas City where the business is currently registered.

Upon verification, the BIR found out that Chemvision transferred its registration to Revenue District Office 58-Batangas City, without the knowledge and authority of RDO 38-North Quezon City where it was previously registered.

"It appears that the company transferred from one RDO to another to evade the payment of taxes," the BIR said.

Chemvision allegedly had numerous transactions in 2011 based on the summary lists of purchases of its customers. It earned P441.99 million from those transactions yet BIR records show the company did not file a tax return for that year.

Chemvision's tax liability, inclusive of surcharges and interests, is broken down into income tax of P241.98 million and VAT of P99.15 million. (Sunnex)

DISCLAIMER: Sun.Star website welcomes friendly debate, but comments posted on this site do not necessary reflect the views of the Sun.Star management and its affiliates. Sun.Star reserves the right to delete, reproduce or modify comments posted here without notice. Posts that are inappropriate will automatically be deleted.

Forum rules: Do not use obscenity. Some words have been banned. Stick to the topic. Do not veer away from the discussion. Be coherent and respectful. Do not shout or use CAPITAL LETTERS!
  • Festivals
  • Obituary
  • Sinulog
  • Filipino Abroad
  • Sunstar Multimedia
  • Papal Visit
  • Pacman blog
  • Philippine Polls
  • Calamity Report
  • ePaper
  • goodearth
  • SunStar Celebrity
  • Technology
  • Sun.Star Zup!
  • Pnoy
  • tell it to sunstar
  • Habemus Papam