After Boracay, Henann Bohol also ordered shut

This big business is in deeper trouble.

It’s been a few months when the government stopped the operations of the Henann Group in Boracay after discovering that the luxury resort reportedly faked its environmental compliance certificate that is required before they can reopen their operations in the rehabilitated island.

Now, the Bureau of Internal Revenue (BIR) in Cebu City has also shut down the Bohol Henann Resort in Panglao. This comes after a complaint that the posh chain is not issuing the right receipts, which was later on confirmed by authorities.

“Results of the investigation to verify the complaint showed that Henann issued to its customers only a printed billing statement ‘stamped PAID.’ It was likewise uncovered that Henann was utilizing the paper tape issued by its Special Purpose Machines (SPMs) as receipts to its customers, thus doubling as Point-of-Sale machines. SPMs are machines for internal use only and do not generate sales,” the BIR said in a statement.

Worse, BIR also found out that Henann “substantially underdeclared” sales by the millions: P324 milion in 2016, P312 million in 2017, and P200 million for the first half of 2018.

Henann’s six resorts in Boracay are already in limbo, now another one bites the dust.

Converge backs infrastructure sharing to lower costs

Bilyonaryo Dennis Anthony Uy’s Converge ICT Solutions Inc. is supporting a proposal that allows telcos or internet service providers to share the cost of installation of underground pipes for telecommunication cables whenever new road infrastructure is built.

Converge backs infrastructure sharing to lower costs

Bilyonaryo Dennis Anthony Uy’s Converge ICT Solutions Inc. is supporting a proposal that allows telcos or internet service providers to share the cost of installation of underground pipes for telecommunication cables whenever new road infrastructure is built.

Fraud trial opens of former Swedbank CEO

Former chief executive of Swedish bank Swedbank, Birgitte Bonnesen, went on trial in Stockholm on Tuesday to answer fraud and market manipulation charges, three years after a money laundering scandal implicating her bank erupted.