Fastfood supplier faces tax charges
20.05.12
MANILA, Philippines — A P240-million tax evasion suit was filed Thursday against a supplier of fastfood giant Jollibee Foods Corporation (JFC) before the Department of Justice (DoJ).
Bureau of Internal Revenue (BIR) Commissioner Kim Henares said Great Wall Promotionals Co. Ltd. (Great Wall) had not been giving the tax agency with correct and accurate information of their sales.
Henares said the estimated aggregate tax liabilities of Great Wall, which has its office in Sta. Cruz, Zambales, amounted to P240,310,100.88.
She identified the owners of Great Wall, as George and Roberto T. Co. The bureau also included in its complaint the supposed "dummies" of the two owners, identified as Carlito N. Pancho and Flordeliza M. Casimiro.
Great Wall supplied Jollibee Foods with kitchen utensils and plastic table wares worth more than P266 million.
Copies of the ITR and VAT returns of Great Wall for taxable year 2008 that were drawn from the Return Processing System (RPS) computer database of BIR-Registration System and certified by the Chief of Document Processing Section of RDO No. 18 of Olongapo City showed that the company reported total sales of P1,466,074.
Source: Manila Bulletin
