Quantcast
Article Index |Advertise | Mobile | RSS | Wireless | Newsletter | Archive | Corrections | Syndication | Contact us | About Us| Services
 
  Breaking News :    
Advertisement
Property Guide
Inquirer Mobile

INQUIRER ALERT
Get the free INQUIRER newsletter
Enter your email address:

 
Inquirer Headlines / Nation Type Size: (+) (-)
You are here: Home > News > Inquirer Headlines > Nation

  ARTICLE SERVICES      
     Reprint this article     Print this article  
    Send Feedback  
    Post a comment   Share  

  RELATED STORIES  




imns



BIR files tax evasion raps vs China firm

By Nikko Dizon
Philippine Daily Inquirer
First Posted 04:26:00 08/13/2010

Filed Under: Crime, State Budget & Taxes, Company Information

MANILA, Philippines?The Bureau of Internal Revenue (BIR) Thursday filed tax evasion cases against a subsidiary of a Chinese state firm and a local printing company in the Department of Justice, as part of the Aquino administration?s campaign to run after tax evaders and shore up government revenues.

BIR Commissioner Kim Jacinto-Henares identified the companies as China State Philippines Construction Engineering Corp. (China Philippines) and Grand C Graphics Inc.

They are the third and fourth companies charged with tax evasion by the BIR since the start of the Aquino administration.

China Philippines is a subsidiary of China State Construction Engineering Corp. Limited (China Limited), one of the companies blacklisted by the World Bank for alleged corruption in the international bidding for a major road project in the country.

Investigation by the BIR showed that the two Chinese corporations had interlocking officers and share the same employees and office address in Ortigas Center in Pasig City, with China Limited as a majority stockholder of China Philippines.

Henares said China Philippines, a company incorporated and registered with the Securities and Exchange Commission (SEC), used the withholding certificates of China Limited for its tax payments from 2003 to 2006 amounting to P270.15 million.

The government is demanding that China Philippines pay a total of P712.74 million representing the income tax, value-added tax, and withholding tax deficiencies of the company from 2003 to 2006.

China Philippines produced certificates of final tax withheld at source for 2006 which were issued by the Department of Public Works and Highways (DPWH) to China Limited.

While China Limited is a contractor of the DPWH, the public works department has no project with China Philippines.

Named respondents in the charge sheet were China Philippines managing officer and chair of the board Fu Yu Cheng, president and director Fu Chun Yuan, secretary and director Gerald Telebrico, chief finance officer Huang Xin Yun, vice president Wu Zhi Gang, and accountant Daisy Guerra who allegedly made false entries in the 2004 to 2006 income tax and value-added tax returns of China Philippines.

Refusal to settle

The BIR is suing Grand C Graphics for its ?obstinate failure and refusal to settle? its overdue tax obligations amounting to P59.47 million for 2005 and 2006.

Among the country?s top corporations, Grand C Graphics filed its returns through the BIR?s Electronic Filing and Payment System but failed to pay the taxes.

?In an attempt to defraud the government, it repeatedly and deliberately evaded payment of its tax liabilities,? the BIR said in a statement.

The BIR demanded that Grand C Graphics pay the government deficiency taxes worth P36.62 million for taxable years from 2005 to 2008.

The BIR earlier filed tax evasion cases against businessman and pawnshop owner William Villarica and officials of DSM Construction and Development Corp.



Copyright 2014 Philippine Daily Inquirer. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

To subscribe to the Philippine Daily Inquirer newspaper in the Philippines, call +63 2 896-6000 for Metro Manila and Metro Cebu or email your subscription request here.

Factual errors? Contact the Philippine Daily Inquirer's day desk.
Believe this article violates journalistic ethics? Contact the Inquirer's Reader's Advocate.
Or write The Readers' Advocate:

c/o Philippine Daily Inquirer
Chino Roces Avenue corner Yague and Mascardo Streets,
Makati City, Metro Manila, Philippines
Or fax nos. +63 2 8974793 to 94


Share

RELATED STORIES:

OTHER STORIES:



  ^ Back to top

© Copyright 2001-2014 INQUIRER.net, An INQUIRER Company

The INQUIRER Network: HOME | NEWS | SPORTS | SHOWBIZ & STYLE | TECHNOLOGY | BUSINESS | OPINION | GLOBAL NATION | Site Map
Services: Advertise | Buy Content | Wireless | Newsletter | Low Graphics | Search / Archive | Article Index | Contact us
The INQUIRER Company: About the Inquirer | User Agreement | Link Policy | Privacy Policy

Advertisement
Philippine Fiesta
TAGAYTAY FONTAINE VILLAS
DZIQ 990
Pacquiao