THE Bureau of Internal Revenue (BIR) Revenue Region 4 filed charges against Great Fortune Agro Corp. for alleged 23 counts of “Willful Failure to Remit Taxes Withheld” on the compensation income of its employees and creditable income taxes withheld from 2015, 2016 and 2017.
The BIR also named as respondents the firm’s president Emerson Co and treasurer Edward Co.
The BIR, in a press conference, said that records show that Great Fortune Agro Corp., a registered taxpayer of RDO 21A – North Pampanga, filed 12 BIR Form No. 1601-E and eleven BIR Form No. 1601-C through electronic Filing and Payment System (eFPS), however, despite repeated notice, the subject corporation failed to remit to BIR RDO 21A – North Pampanga, the taxes it withheld.
BIR regional director Jethro Sabariaga said that such failure to remit is punishable, for each act or omission, by a fine of not less than ten thousand pesos and suffer imprisonment of not less than one year but not more than ten years and a penalty equal to the total amount of the tax not accounted for and remitted.
The corporation, upon conviction for each act or omission, shall be punished by a fine of not less than P50,000 but not more P100,000.