E88 0.00% 0.0¢ ensogo limited

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  1. 2,946 Posts.
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    Having problems with my browser today, but check this link. seems to be a fresh news article on the matter.

    Australia's Ensogo seeks clarification from BIR
    http://rp1.abs-cbnnews.com/business/02/06/15/australias-ensogo-seeks-clarification-bir

    "
    MANILA, Philippines - E-commerce website operator Ensogo Ltd. saw its shares plunge in Australia, after news reports that its Philippine unit was facing a tax investigation.
    Reuters said shares of Ensogo, which is listed on the ASX, fell by as much as 8 percent on Friday.
    In a disclosure to the ASX, Ensogo said it was "surprised" to hear of a tax investigation for its Philippine unit.
    "The matter in question primarily relates to events as far back as 2011 and prior to Ensogo's ownership of that Philippines company," the company said.
    Ensogo said it is currently discussing with the Philippines' Bureau of Internal Revenue to understand the matter.
    The company said it is seeking to confirm if there are any outstanding payments from prior periods. "(Ensogo) is contacting the previous owner of the company who has provided Ensogo with warranties in relation to such an event," it said.
    On Thursday, the BIR announced it filed a criminal complaint against the operator of online shopping site Ensogo for alleged failure to pay the correct taxes.
    The BIR said charges were filed against Ensogo Inc., its president Krit Srivorakul and treasurer Xelynne de Lara for willful failure to remit taxes and deliberate failure to pay taxes from October 31, 2011 to October 31, 2014 amounting to P36.1 million, inclusive of surcharge, interest, and compromise penalty.
    Ensogo provides marketing services to its merchants, which are engaged in the leisure, catering and entertainment industries.
    It serves as a withholding agent mandated to withhold taxes on various income payments to its suppliers and to withhold taxes on the compensation of its employees, and an Electronic Filing and Payment System (eFPS) taxpayer.
    However, BIR said investigators discovered that while Ensogo electronically filed its withholding tax and value-added tax (VAT) returns, it “deliberately, willfully, and continuously failed” to remit taxes withheld and/or pay the corresponding withholding taxes and VAT due thereon, whether electronically or manually resulting to considerable revenue losses for the government. - With Reuters"
 
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