BIR warns erring companies

The Bureau of Internal Revenue (BIR) warned business establishments yesterday that it would not hesitate to shut down businesses that do not comply with tax requirements set by the agency.

In a statement, BIR deputy commissioner for operations Nelson Aspe said the agency would shut down establishments that fail to comply with the 10-day value-added tax (VAT) notification requirements set by the bureau.

Aspe also said the agency is ready to file tax evasion cases against violators.

“Unless they comply with the bureau’s requirements as notified to them, more of these establishments face immediate closure and possible tax evasion cases. The government stands to lose more if we allow them to operate in violation of tax laws,” Aspe said.

Furthermore, Aspe reminded the taxpaying public that today (Jan. 30, 2008) is the last day for registration of computerized books of accounts and other accounting records of businesses.

These should be in optical media properly labeled with the information required under existing issuances.

Affidavit attesting to the completeness, accuracy and appropriateness of the computerized accounting books and records must also be submitted, Aspe said.

Furthermore, Aspe said today is also the deadline for the submission of the annual alphabetical list of professionals who were issued professional and occupational tax receipt (PTR/OTR) by local government units (LGUs).

“Jan. 31 is also the deadline for submission of regular suppliers of goods and services by the top 10,000 private corporations,” Aspe said.