Megaworld, BIR issue ‘clarified, resolved’

Published May 17, 2022, 4:15 PM

by Chino S. Leyco

Megaworld Corp. said the impending issuance of a closure notice against the property company has been clarified and resolved with the Bureau of the Internal Revenue (BIR).

Francisco C. Canuto, Megaworld compliance and corporate information officer said in a statement that the company has reached out to the concerned BIR Regional Office, and the “matter has been clarified and resolved.”

Megaworld, however, did not elaborate and provide additional information about the issue.

“Megaworld continues to fully support government’s revenue programs,” Canuto said in a statement on Tuesday, May 17.

The clarification came after the BIR released a media advisory on Tuesday afternoon, stating that the agency will serve a closure order against “Megaworld Corporation”.

But in separate advisory signed by BIR Regional Director Eduardo Pagulayan Jr. and was released late afternoon on Tuesday, “Representatives from Megaworld Corporation manifested their full cooperation with all the requirements of the Bureau of Internal Revenue.” Tax bureau did not elaborate on the “requirements” sought by the BIR from the property developer.

With that, Pagulayan said the serving of closure notice against Megaworld was “held in abeyance until further notice.”

The BIR advisory had requested media coverage on the “issuance of closure order against Megaworld Corporation” on May 18, Wednesday.

The bureau said BIR Deputy Commissioner Arnel Guballa and Pagulayan and several other officials will be present during the serving of the closure order.