MEGAWORLD Corp. on Wednesday said that it has no unpaid taxes with the Bureau of Internal Revenue (BIR), after clarifying that it had not received any closure order from the agency.
“Records with the BIR will confirm that Megaworld has no outstanding or unpaid past tax liabilities needing any enforcement action,” the company said in a statement.
On Tuesday, the BIR released an advisory regarding the issuance of a closure order against the company.
On the same day, the bureau also announced that the closure order would be held in abeyance until further notice, noting that representatives from Megaworld manifested their “full cooperation” with all requirements from the agency.
“Megaworld has not received any closure order duly approved by the commissioner of internal revenue,” the property developer added.
The company said that 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. It also said that all previous deficiency assessments had been paid by the company and duly cleared by the BIR head office.
“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 audits of some of our properties, but the matter has been clarified and resolved yesterday (Tuesday),” Megaworld added.
For any pending tax audits, the company said it would continue to maintain its stance of full cooperation with tax authorities.
At the stock exchange on Wednesday, Megaworld shares remained unchanged at P2.80 apiece. — Luisa Maria Jacinta C. Jocson