BIR files P87-M tax evasion raps vs ad firm, building contractor

The Bureau of Internal Revenue (BIR) on Thursday filed with the Department of Justice (DOJ) separate tax evasions charges against an advertising firm and building contractor, involving a total of P86.66 million in unpaid taxes.
 
The BIR filed a case against Muntinlupa-based Peerl Industrial Construction Corporation (Peerl), its president Ernesto Pedroso and its treasurer Lily Pedroso for attempting to evade taxes and failing to supply the BIR with accurate information in its tax returns from 2005 to 2007.
 
The BIR said it decided to probe the firm after receiving "confidential information" about alleged irregularities in the company.
 
Based on its investigation, the BIR found out that the company earned at least P76.78 million from 2005 to 2007 from its clients Amkor Technology Philippines Inc., Integrated Microelectronics Inc., and M+W Zander Philippines Inc.

"The company, however, declared sales of only P18.94 million for the three-year period, an underdeclaration of more than 30 percent that is already prima facie evidence of fraud," the BIR said at a press briefing at the DOJ main office in Manila.
 
The BIR computed Peerl’s total tax deficiency at P72.52 million.
 
A second tax evasion case, meanwhile, was filed against Makati-based JD Dream Ad Inc.’s president Sang Jin Lee and its treasurer Jong Jung Park for failing to file the company’s tax return in 2006.        
 
The BIR said JD Dream Ad Inc. is an outdoor advertising company that focuses on electronic billboards.
 
The BIR said it sought the collection of P14.14 million in tax deficiency for 2006 from the company in 2009 and sent the company a preliminary collection letter in 2010.

"A warrant of distraint/levy was also issued in May 2010 to collect the taxes from the firm," the BIR said. - VVP, GMA News