Daily Star logoBusiness
Bacolod City, PhilippinesFriday, May 25, 2012
Front Page
Negros Oriental
Star Business
Police Beat
Star Life
People & Events
Classified Ads
Tax case filed against
local sugar company

The Bureau of Internal Revenue yesterday filed a criminal complaint with the Department of Justice against Jolinecaa Corporation and its president Anecito Campos for their alleged willful failure to pay deficiency taxes for taxable year 2006, a government press release said.

Campos and Jolinecaa allegedly failed to pay the required taxes despite repeated demands, in violation of Section 255, in relation to Sections 253 (d) and 256, of the National Internal Revenue Code of 1997, as amended, the press release said.

The case was filed through the BIR’s Revenue Region No. 12 in Bacolod City under the bureau’s Run After Tax Evaders program. Jolinecaa is a domestic corporation primarily engaged in the molasses trading, it added.

Records of investigation showed that Jolinecaa was issued a letter of authority for the examination of its books of accounts and other accounting records for all internal revenue taxes covering taxable years 2006. Despite the issuance of the LOA, three subsequent notices for the presentation of its books of accounts and other related accounting records, including a subpoena duces tecum, Jolinecaa still failed to submit the required documents, the press release said.

For such failure, the BIR assessed Jolinecaa a total deficiency tax amounting to P17.10 million for taxable year 2006 on the basis of best obtainable evidence.

Jolinecaa was assessed deficiency income tax amounting to P16,925,049.05 after company expenses and purchases were disallowed for lack of valid supporting documents, the press release said.

Being subject to value added tax, the corporation was assessed VAT in the amount of P174,921.66 after the BIR discovered that it sold sugar in 2006 amounting to P6.78 million to Carlos Uy Corporation.

The finding was based on the cash invoice issued by CUC covering this transaction, the press release said.

Jolinecaa was also penalized with the amount of P1,000 each for its failure to file BIR Form 1604-CF (Annual Information Return of Income Taxes Withheld on Compensation and Final Withholding Taxes) and for its failure to file an inventory list, the press release said.*


back to top

ButtonTax case filed against local sugar company
ButtonLPG prices slashed by P1/kg anew
ButtonJeepney drivers told: Comply with fare cut

ButtonMore agri-tourists visit Negros Occ.