Cardboard maker faces tax evasion case-A A +A
Thursday, December 19, 2013
THE government has been cleared by the Court of Appeals (CA) to run after a cardboard manufacturing firm which allegedly evaded taxes worth millions of pesos.
In a resolution, the CA former Twelfth Division stood pat in its May 31 decision favoring the criminal prosecution of Chiat Sing Cardboard Corp.
"A perusal of the instant motion for reconsideration reveals that no substantial arguments were presented that is meritorious enough to warrant the consideration much less reversal of our May 31, 2013 decision," stated the resolution written by Associate Justice Angelita Gacutan.
According to the Bureau of Internal Revenue (BIR), Chiat Sing allegedly underdeclared its income by P10.6 million and P5.7 million in 1999 and 2000, respectively.
The company is engaged in the manufacture, import, export and wholesale trading of cardboard, paperboard, corrugated carton containers and similar products.
The complaint is pending before the Department of Justice (DOJ). (Sunnex)