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Lumber firm faces P118M suit for tax evasion, fake cigarette tax stamps

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Bureau of Internal Revenue (BIR) logo

TIMBER WOOD Development Corp., registered as a lumber products trader based in Tagoloan, Misamis Oriental, is facing a P118 million criminal complaint for engaging in plywood manufacturing as well as possessing cigarettes and chewable tobacco products with fake tax stamps. The case, filed on Thursday by the Bureau of Internal Revenue (BIR)-Cagayan de Oro office, involves the company and its corporate officers, President Ting-Pi Huang, Chief Finance Officer Chiu-Ling Su, Corporate Secretary Ma. Sharon L. Remo, Christian M. Tong and Nenito P. Pialan. BIR, in a statement, said investigation showed that the company has been engaged in making plywood and not registered as an excise tax payer. Its warehouse was found stocked with boxes of cigarettes and chewable tobacco products without tax stamps or bearing counterfeits.

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