The Bureau of Internal Revenue (BIR) has canceled the accreditation of an accountant involved in a fake receipt syndicate. In a statement on Monday, BIR said Commissioner Romeo Lumagui Jr. has revoked the certificate of accreditation of Jennifer Cunanan Roncesvalles, the external auditor who issued the certified public accountant (CPA) certificate attached to the financial statements of companies criminally charged for selling ghost receipts. Roncesvalles is also facing a criminal case before the Department of Justice (DOJ) and an administrative case for the revocation of her license before the Professional Regulation Commission (PRC). The BIR ramped up efforts to stop the tax-evading scheme of sales and use of ghost receipts. Ghost receipts are fictitious receipts or invoices where transactions did not take place. The scam’s main purpose is to reduce the income tax and value-added tax (VAT) liabilities of the purchaser by claiming false deductions or expenses, and claiming input VAT on the basis of fictitious transaction. Lumagui said the receipts simulate business transactions that result in hundreds of billions of pesos in revenue losses on the part of the government. “This serves as a warning to all CPAs involved in ghost/fake receipts. You will lose your PRC license. You will lose your BIR accreditation. You will be imprisoned for tax evasion. Uphold the core values of being a CPA,” he said. “Your profession and stature in society, confer not only prestige but also that of a higher responsibility to the financial system of the country,” he added.
Source: Philippines News Agency