BIR Makati padlocks first establishment in Greenbelt
MAKATI CITY, 10 June 2014 - The Bureau of Internal Revenue (BIR) today padlocked Timeless Bar and Restaurant Concepts, Inc. located at Greenbelt 3, Ayala Center, Makati City for acts and omissions constituting violations of the National Internal Revenue Code of 1997, as amended (Tax Code).
The establishment is engaged in the bar and restaurant business and is reportedly owned by scions of well-known politicians in the country. An upscale watering hole frequented by popular personalities, as well as foreigners, the establishment was the first to be shuttered by the BIR in the Greenbelt, Makati area.
Records of investigation showed that Timeless Bar and Restaurant Concepts, Inc. was the subject of a Mission Order issued to the Special Investigation Division (SID) of Revenue Region (RR) No. 8, Makati City to determine its compliance with the requirements of the Tax Code.
The BIR discovered during its surveillance and monitoring operations conducted pursuant to the said Mission Order that subject taxpayer did not report its correct taxable sales/receipts to the BIR.
Initial assessment of the business establishment’s tax liability reflected a 213.55% underdeclaration of correct taxable sales/receipts.
A 48-Hour Notice was issued informing the subject taxpayer of the findings and to make the necessary rectifications which it failed to do so. A Five (5)–Day Value Added Tax (VAT) Compliance Notice was issued thereafter and again, the taxpayer failed to comply with the said VAT notice. Said failure prompted the BIR to shut down the bar and restaurant.
Both notices required the establishment to amend its previously-filed VAT returns to reflect its correct taxable sales/receipts. It was also ordered to separately indicate VAT Output Tax in its receipts, register Special Purpose Machines, and comply with Bookkeeping requirements.
The closure of Timeless Bar and Restaurant Concepts, Inc. was implemented by Regional Director Jonas DP. Amora, together with RDO No. 47, East Makati Revenue District Officer Isabel A. Paulino, SID Chief Antonio J. Mangubat, Jr., and Legal Division Assistant Chief Wilmer B. Dekit, pursuant to the Oplan Kandado program of the BIR under the leadership of Commissioner Kim S. Jacinto-Henares.
If you received a Mission Order that a BIR examiner would survey your place of business, most probably, you are in the radar of OPLAN KANDADO but don't be afraid because whatever you would pay therefor would be considered by the BIR as your advance tax payments. DON'T LET IT CLOSED DOWN YOUR BUSINESS. ETM will teach you on how to use it to your advantages. Then you would know that it's only a play-game that can easily be WON. For details and other information, please email 09228010922@maestrotaxation.org and 09989793922@maestrotaxation.org or call 4393918 0r 9216107.
MAKATI CITY, 10 June 2014 - The Bureau of Internal Revenue (BIR) today padlocked Timeless Bar and Restaurant Concepts, Inc. located at Greenbelt 3, Ayala Center, Makati City for acts and omissions constituting violations of the National Internal Revenue Code of 1997, as amended (Tax Code).
The establishment is engaged in the bar and restaurant business and is reportedly owned by scions of well-known politicians in the country. An upscale watering hole frequented by popular personalities, as well as foreigners, the establishment was the first to be shuttered by the BIR in the Greenbelt, Makati area.
Records of investigation showed that Timeless Bar and Restaurant Concepts, Inc. was the subject of a Mission Order issued to the Special Investigation Division (SID) of Revenue Region (RR) No. 8, Makati City to determine its compliance with the requirements of the Tax Code.
The BIR discovered during its surveillance and monitoring operations conducted pursuant to the said Mission Order that subject taxpayer did not report its correct taxable sales/receipts to the BIR.
Initial assessment of the business establishment’s tax liability reflected a 213.55% underdeclaration of correct taxable sales/receipts.
A 48-Hour Notice was issued informing the subject taxpayer of the findings and to make the necessary rectifications which it failed to do so. A Five (5)–Day Value Added Tax (VAT) Compliance Notice was issued thereafter and again, the taxpayer failed to comply with the said VAT notice. Said failure prompted the BIR to shut down the bar and restaurant.
Both notices required the establishment to amend its previously-filed VAT returns to reflect its correct taxable sales/receipts. It was also ordered to separately indicate VAT Output Tax in its receipts, register Special Purpose Machines, and comply with Bookkeeping requirements.
The closure of Timeless Bar and Restaurant Concepts, Inc. was implemented by Regional Director Jonas DP. Amora, together with RDO No. 47, East Makati Revenue District Officer Isabel A. Paulino, SID Chief Antonio J. Mangubat, Jr., and Legal Division Assistant Chief Wilmer B. Dekit, pursuant to the Oplan Kandado program of the BIR under the leadership of Commissioner Kim S. Jacinto-Henares.
If you received a Mission Order that a BIR examiner would survey your place of business, most probably, you are in the radar of OPLAN KANDADO but don't be afraid because whatever you would pay therefor would be considered by the BIR as your advance tax payments. DON'T LET IT CLOSED DOWN YOUR BUSINESS. ETM will teach you on how to use it to your advantages. Then you would know that it's only a play-game that can easily be WON. For details and other information, please email 09228010922@maestrotaxation.org and 09989793922@maestrotaxation.org or call 4393918 0r 9216107.
No comments:
Post a Comment