Royalè, 3 Other Face Tax Evasion Charges

March 12, 2015

Business owners who are dodging their tax obligations beware because the Bureau of Internal Revenue (BIR) will find you out. After investigations were done, BIR has filed tax evasion charges business executives of four companies namely Royalé Business Club International, Vivetech Corporation, Rusette Printing Press and Trading, and Dainan International. According to the BIR, taxes not paid by these companies totals to more than P466 million.

BIR Commissioner Kim S. Jacinto-Henares said that these companies attempted to evade or defeat tax on purpose. They did not give the correct and accurate information on the annual income tax returns and value added tax returns for the years 2011, 2012 and 2013.

Royalè Business Club International, which has the highest undeclared income, is known for marketing consumer products including food supplements, cosmetics and pharmaceutical products and beverages. Royalè executives who were charged with tax evasion are president Julius Allan Nolasco, vice president for finance Isa Angela Bautista, assistant treasurers Jeanette Maghirang, and Imelda Pedron and assistant accounting manager Marjorie Molina.

Based on BIR’s investigation, Royalè received income payments of P141.60M from the Bank of Philippine Islands, P468.55M from Metrobank and P171.07M from Banco de Oro. However, the company’s ITR gross sales only reflect P39.14M in 2011, P106.69M in 2012 and P196.68M in 2013. Based on BIR’s computation Royale’s income in those three years amounts to more than P780M but the company’s declared gross sales is only P343M so, there’s an under-declaration of around P437M.

Vivetech Corporation is headed by president Edwin Lumague; Rusette Printing Press and Trading is headed by Teresita Alcantara; and Dainan International is headed by Nelson Tia.

Source 1, Source 2





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