The Bureau of Internal Revenue (BIR) conducted a major raid on July 26, targeting the warehouse of JPoon and Sons Corp. in Quezon City as part of an investigation into alleged tax evasion.
The operation, led by Commissioner Romeo Lumagui Jr., resulted in the confiscation of unregistered computers, accounting software, servers, and receipts, after an investigation claimed that JPoon and Sons Corp. had allegedly evaded taxes amounting to P2 billion.
The enforcement operation was conducted simultaneously in JPoon’s branches across various regions, including Laguna, Baguio, Quezon, and Camarines Sur.
During the raid at the Quezon City warehouse, the BIR also discovered thousands of sacks of flour, sugar, and other bakery products, indicating that the facility served both as a sales outlet and a back office site.
JPoon and Sons reportedly has links to one of the country’s largest flour manufacturers and is believed to have interlocking directors and shareholders.
The BIR investigation revealed that the company had been issuing unregistered receipts for an extended period, with this practice also taking place in its other branches.
According to the BIR’s findings, JPoon and Sons had not registered any CRM/POS or computerized accounting system, solely relying on manual receipts.
This practice allegedly enabled the company to conceal its actual inventory and reduce its tax liabilities.
Lumagui, armed with a mission order, initiated test purchases that led authorities to the unregistered warehouse in Quezon City.
“We want a level playing field for businesses in the Philippines. Big companies like JPoon should comply with all BIR issuances. All companies should. Non-payment of taxes should not be treated as a business advantage,” Lumagui emphasized.
Authorities are now turning their focus to the company’s wheat imports, which play a crucial role in flour production.
JPoon and Sons is said to be the largest purchaser of flour from its sister company.
