Monday 24 September
Powered by Ajaxy
Oct 20, 2017 @ 11:37

Joint BIR, NBI raid yields 480 mastercases of illicit cigarettes

A joint operation conducted by the Bureau of Internal Revenue (BIR) and the National Bureau of Investigation (NBI) on a store in Cabanatuan City in Nueva Ecija yesterday morning yielded an initial batch of 480 mastercases of illicitly traded cigarettes, the Department of Finance (DOF) has learned.

A report to Finance Secretary Carlos Dominguez III said that after the raid on Collette’s PX Store and its warehouse, the establishment was ordered closed as provided under Section 172 of the National Internal Revenue Code.

The raid which was done by a team of BIR employees and NBI agents, uncovered the illicit cigarettes with the brands “Two Moon,” “RGD,” “Black Bat,” “Twin Star,” among others.

“The store and the warehouse were raided following information that the said establishment has been selling cigarettes not affixed with BIR tax stamps,” the report to Dominguez said.

According to the report, “the warehouse raid resulted in the closure of the premises under Section 172 of the Tax Code because there were initially 480 mastercases of various cigarette products without tax stamps.”

Under Section 172 of the Tax Code, the BIR may detain products when it has good reason to believe that the proper excise taxes were not paid.

The BIR is still estimating the total value of the seized products and gathering additional details as of press time.


Trending News

Recommended on sister sites

Copyright © 2018 - Latest News on Celebrities, Politikos and Businessmen that loves food!.