P750M in fake tax stamps, cigarettes seized in Bacolod raid | Inquirer News

P750M in fake tax stamps, cigarettes seized in Bacolod raid

/ 06:20 PM May 05, 2021

BACOLOD CITY—The Bureau of Internal Revenue (BIR) and National Bureau of Investigation (NBI) seized P750 million worth of fake tax stamps and materials for making cigarettes at a warehouse in the city on Tuesday (May 4).

Antonio Jaminola, BIR regional chief, said his office acted on a tip that fake cigarettes were being manufactured in the facility.

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There was no one around at the warehouse during the raid, however, but BIR and NBI agents seized the fake tax stamps and cigarettes, including raw materials.

Jaminola said  those behind the manufacture of the fake stamps are liable for tax evasion.

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The National Internal Revenue Code carries penalties of P10 million to P500 million and imprisonment for up to eight years for the manufacture of fake tax stamps.

Jaminola called on the public to pay taxes and report tax evaders, saying the government needed help generating revenue, especially for COVID-19 response.

“The tax revenues are needed for the purchase of COVID-19 vaccines,” he said.

An NBI team from Manila backed the BIR during the raid.

TSB

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TAGS: Bacolod City, BIR, fake cigarettes, NBI, Tax evasion, tax stamps
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