Company faces tax charges over mis-declared vapes—House panel

  • 📰 MlaStandard
  • ⏱ Reading Time:
  • 46 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 22%
  • Publisher: 55%

Philippines Headlines News

Philippines Latest News,Philippines Headlines

Defining the News

A company whose warehouse in Valenzuela City was discovered to be containing P1.4 billion worth of unregistered vapes in October 2023 should face tax evasion charges, a House of Representatives panel said in a report.

The report noted that Flava Corp. has no registered brands for import and no facility capable of domestic manufacturing. The committee also recommended the filing of charges against Flava Corp. under Section 263 of the NIRC for unlawful possession or removal of articles subject to excise tax without proper payment. The NIRC prescribes a fine of P10 million to P20 million and imprisonment of 10 to 12 years for those convicted of this offense, which applies to goods with an appraised value exceeding P1 million.

The recommendations aim to stop the spread of illegal trade and ensure compliance with tax regulations, protecting both the market’s integrity and public health. The inspection revealed 14,000 boxes containing around 1.4 million pieces of 10-milliliter disposable vapes marked “Flava,” with an estimated value of P700 million and an excise tax requirement of P728 million.

Source: News Formal (newsformal.com)

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 20. in PH

Philippines Latest News, Philippines Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

#ANONGBALITA Konnichiwa! Japan’s royal family makes Instagram debut, but no selfies yetDefining the News
Source: MlaStandard - 🏆 20. / 55 Read more »

8 posing as DBM officials arrested in NBI dragnetDefining the News
Source: MlaStandard - 🏆 20. / 55 Read more »

Heat at ‘danger levels’—PAGASADefining the News
Source: MlaStandard - 🏆 20. / 55 Read more »

Rio N. Araja, Author at Manila StandardDefining the News
Source: MlaStandard - 🏆 20. / 55 Read more »

DOJ sets free 783 prisoners in simple riteDefining the News
Source: MlaStandard - 🏆 20. / 55 Read more »

Customs seizes over P43-b in smuggled goods in 2023Defining the News
Source: MlaStandard - 🏆 20. / 55 Read more »