MANILA (UPDATE) - Megaworld Corp on Tuesday said it has “resolved’ an issue with the Bureau of Internal Revenue after the agency earlier issued an advisory saying the company would be shut down on Wednesday.
The company led by billionaire Andrew Tan was the subject of a BIR advisory sent on Tuesday that said "Request for Media Coverage" with the topic "Issuance of Closure Order Against Megaworld Corporation."
The said BIR advisory states that the issuance of the closure order will take place on the morning of May 18.
"We got hold of the media advisory regarding the closure order. We are currently verifying and clarifying this with the Bureau of Internal Revenue," Megaworld said in a disclosure to the stock exchange.
In another statement minutes later, Megaworld said the issue has been resolved.
"We have already reached out to the concerned BIR Regional Office and the matter has been clarified and resolved," it said.
"Megaworld continued to fully support government's revenue programs," it added.
At around 4 p.m. a BIR official told reporters that Megaworld representatives are currently at the concerned RDO and assured the tax bureau of full cooperation.
Both the BIR and Megaworld did not disclose the reason behind the order.
In a recent advisory, the BIR said Wednesday's activity is being held in abeyance until further notice.
-- with reports from Jekki Pascual and Jessica Fenol, ABS-CBN News