Philrem in bigger trouble

PHILREM,

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using receipts not registered with the BIR.

She presented a sample of a receipt issued by Philrem to its clients.

“First, this is a violation of the National Internal Revenue Code because the receipt should have been registered with the BIR since 2013,” Henares said.

She explained that her bureau had required companies to have their receipts, delivery or acknowledgment registered.

Henares said Philrem is not a registered remittance company.

According to her, the company was registered with the BIR under “other land transportation transactions,” not as a

Philrem, she said, amended its articles of incorporation in 2005 but it did not bother to update its registration with the BIR.

Registered

The Bangko Sentral ng Pilipinas (BSP) also on Tuesday said Philrem is a registered remittance agent but it does not have a license to operate as a foreign exchange dealer or money changer.

“She [Henares] said [Philrem] is not registered with the BIR. That is a different matter,” BSP Deputy Governor Nestor Espenilla Jr. told TheManilaTimes in a text message.

“Philrem is registered with BSP as a remittance agent from AMLA [Anti-Money Laundering Act] compliance purposes only,” he said.

the blue ribbon panel, subpoenaed Philrem messenger Mark Palmares to appear in the hearing next week.

Guingona was forced to issue the subpoena after Palmares failed to appear in the hearing twice.

“Nilolokoninyokami [You have been making fools of us] and your credibility is running

Salud Bautista, owner of Philrem, said Palmares delivered to Wei Kang Xu in Solaire casino.

PHOTOS BY CZEASAR DANCEL Celia Estavillo (above), head of legal and regulatory affairs of RCBC, testifies again before the Senate blue ribbon committee. BIR Commissioner Kim Henares ponders a question.