Bureau of Internal Revenue. FILE PHOTO
MANILA, Philippines — Hongsheng Gaming Technology Inc., which operated offshore gaming activities in the Philippines, is facing a P2.228-billion tax evasion case, according to a statement issued by the Bureau of Internal Revenue (BIR) on Thursday.
The BIR, which filed the complaint at the Department of Justice on Aug. 6, accused Hongsheng of underdeclaring its income, failing to declare the correct value-added tax (VAT), and failing to withhold and remit final withholding taxes for its foreign employees — covering taxable years 2021 to 2023.
Examining records gathered from various government agencies, the BIR found significant discrepancies between Hongsheng’s declared revenues and information reflected in official records, resulting in deficiency income tax, VAT, and final withholding tax liabilities totaling ₱2,227,759,311.21.
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