PROPERTY developer Megaworld Corp. clarified on Wednesday, May 18, 2022, that it doesn’t owe the government any unpaid tax.
“Records with the Bureau of Internal Revenue (BIR) will confirm that Megaworld has no outstanding or unpaid past tax liabilities needing any enforcement action,” the company said. “It is being regularly audited by the Large Taxpayers Service of the BIR Head Office, and all its tax returns up to 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.”
Megaworld said it did not receive any closure order duly approved by the Commissioner of Internal Revenue.
“There was an initial disagreement with the BIR Regional Office 8-B after we raised some issues with regard to (its) jurisdiction on conducting tax audit of some of our properties, but the matter has been clarified and resolved yesterday (May 17),” the Andrew Tan-owned real estate arm said.
“For pending tax audits, the company continues to maintain its stance of full cooperation with the tax authorities in accordance with their mandate to collect badly needed revenues for the Government,” it said.
On Tuesday, May 17, the BIR gave notice that it will serve a closure order against Megaworld Corp. on Wednesday, May 18. The bureau did not disclose Megaworld’s supposed tax offense and how much it owed the government.
The bureau, however, halted the closure order after Megaworld’s representatives trooped to one of BIR’s offices to seek clarification on the shutdown order.