By Paulo Loreto Lim
Bureau of Internal Revenue-11 (BIR-11) Director Alberto S. Olasiman, who oversees matters across Iloilo City, recently reported a total seven business establishments were shut down in Iloilo City last year as a result of the BIR’s “Oplan Kandado” program.
According to the bureau, the program suspends business establishments found to be non-compliant with tax policy, primarily surrounding tax evasion. However, businesses may also face suspension if they fail to file a value-added tax (VAT) return, a VAT-registered entity fails to issue receipts or invoices, among other related reasons.
Of the seven, Olasiman said three have repaid their overdue taxes and are back in operation.
“Those that did not pay remain closed until they pay the tax deficiency,” he noted./PLL, WDJ