Royale Business Club International Incorporated, a Philippines-based multi-level marketing (MLM) organization, has been slapped with tax evasion charges by the Bureau of Internal Revenue (BIR) worth P359.75 million ($8.13 million).
Royale is a domestic corporation that markets and distributes food supplements, cosmetics, pharmaceutical products, and beverages.
The BIR said the company under-declared its annual income tax returns (ITR) and quarterly value added tax (VAT) from 2011 to 2013, as defined under sections 254 and 255 of the National Internal Revenue Code of 1997 as amended (tax code).
Also charged for the same violations were its officers: Royale president Julius Allan Nolasco; vice president for finance/treasurer Isa Angela C. Bautista; assistant treasurer Jeanette Maghirang; assistant treasurer Imelda Pedron; and assistant accounting manager Marjorie Molina.
Based on access letters released by the Bank of the Philippine Islands (BPI),