BIR files tax evasion raps vs fashion firm

MANILA, Philippines—The Bureau of Internal Revenue (BIR) on Thursday filed a tax evasion complaint before the Department of Justice against a fashion company.

Facing a complaint for violation of the National Internal Revenue Code (NIRC) is Yearfull Fashion Enterprises Inc. and its officers Irene C. Chan, president, and Charlie C. Chan, treasurer.

They are specifically facing one count of willful attempt to evade or defeat payment of income tax, one count of willful attempt to evade or defeat payment of value-added tax (VAT), one count of deliberate failure to supply correct and accurate information in its Income Tax Return (ITR) and 4 counts of deliberate failure to file to supply correct and accurate information in its VAT Returns, all for taxable year 2010.

Investigation conducted by the BIR showed that Yearfull declared sales amounting to P29.85 million in 2010. But a check with a big shopping mall where the fashion company has been supplying goods showed the sales actually amounted to P66.35 million.

The BIR said Yearfull has a total tax liability of P10.93M.