BACOLOD CITY, Philippines — Fake cigarettes and tax stamps worth P500 million were seized in a raid on a warehouse in Barangay Tangub in this city on Tuesday.
Bureau of Internal Revenue regional director Antonio Jonathan Jaminola said the raid, which was conducted in coordination with the National Bureau of Investigation (NBI) and Philippine Army, yielded 29 boxes of fake documentary stamp tax as well as fake cigarettes and raw materials.
An NBI agent, who requested anonymity, said the tax stamps have the same serial number.
The operators of the warehouse eluded arrest.
Under the National Internal Revenue Code, the use of fake tax stamps is punishable by a fine of up to P500 million and imprisonment of up to eight years.