The BIR recently raided four large scale manufacturers in Clark, Pampanga where it discovered illicit cigarettes and unregistered machines.
For the latest raid, BIR said total deficiency in taxes reached P8.06 billion.
BIR commissioner Romeo Lumagui Jr. said this was the largest illicit cigarette operation conducted since he assumed the top post at the revenue agency.
BIR continues to target largescale cigarette traders amid the government losing billions in taxes from the illicit trade of the commodity.
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Denne historien er fra October 08, 2024-utgaven av The Philippine Star.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
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Makati Medical Center shines at Investors in People Philippines Awards
Makati Medical Center (MakatiMed) received the Social Responsibility Award and was named runner-up for People Investor of the Year at the Investors in People (IIP) Philippines Awards recently.
BIR seizes illicit cigarettes with P8-B tax deficiencies
The sale of illicit cigarettes continues to be a government problem with the Bureau of Internal Revenue (BIR) finding P8 billion in tax liabilities from its latest operation.
Maybank eyes more Islamic banking
Maybank Philippines Inc.(MPI), a member of the Malaysian Maybank Group, a leading financial services group ranked No. 4 in the Association of Southeast Asian Nations (ASEAN) by assets, is looking to set up more Islamic banking branches as it reviews where to best position them alongside some of its other branches in the Philippines.
New SEC guidelines seen to power up energy sector
The Securities and Exchange Commission (SEC) is planning to launch early next year a set of guidelines that will help further energize the country's power sector.
Anatomy of an expensive toilet soap bar
One basic rule in quality and productivity improvement is that management must listen to all employee ideas, even those that appear absurd at first glance.
Bank lending picks up for 2nd straight month
The growth in loans disbursed by big banks accelerated for a second straight month to 10.9 percent in August, from 10.4 percent in July, data from the Bangko Sentral ng Pilipinas (BSP) showed.
Push for wealth tax resurfaces
As digital tax seen to hit consumers more
Cebu Pacific using AirSWIFT for El Nido trips
Low-cost carrier Cebu Pacific will add a niche route to its flight network with its acquisition of boutique airline AirSWIFT Transport Inc. , which operates direct trips to El Nido, Palawan.
Megaworld names Kevin Tan as new executive director
Tycoon Kevin Tan has ascended the ranks at property giant Megaworld Corp., taking on the role of executive director as he succeeds his mother, Katherine Tan, who stepped down yesterday.
Index surges, hits new 5-year high
The local stock market started the week on a high note, surging to its highest close in almost five years on the back of encouraging eco- nomic data here and abroad.