Megaworld says it has no unpaid tax dues, disagreement with BIR 'resolved'

ABS-CBN News

Posted at May 18 2022 11:11 AM

MANILA - Megaworld Corp on Wednesday said it has resolved a disagreement with a Bureau of Internal Revenue's regional office and that it has no unpaid liabilities connected to a suspended closure order. 

In a statement, Megaworld, which operates malls, hotels and townships nationwide, said the company is regularly audited by the Large Taxpayers Service of the BIR Head Office.

All tax returns up to the taxable year 2020 have been examined and all previous deficiency assessments have already been paid for by the company and duly cleared by the BIR head office, it said.

"Records with the BIR will confirm that Megaworld has no outstanding or unpaid past tax liabilities needing any enforcement action," the Andrew Tan-led firm said in a statement.

"There was an initial disagreement with the BIR Regional Office 8-B after we raised some issues with regard to their jurisdiction on conducting tax audit of some of our properties, but the matter has been clarified and resolved yesterday," it added.

Megawold said it remains committed to "maintain its stance of full cooperation" with the tax authorities.

The BIR on Tuesday issued an advisory requesting for media coverage for the issuance of a closure order for Megaworld Corporation.

On the same day, Megaworld said the issue has been resolved with the BIR, putting the closure order on hold. 

RELATED VIDEO:

Watch more News on iWantTFC