Megaworld Corp Speaks on Tax Issues with BIR
MEGAWORLD CORP – The giant real estate company expressed that it has resolved its issues with BIR and it has no unpaid tax dues.
There are several businesses in the Philippines and some of them are considered “giants” in the field. They have enormous growth that was able to pull in a lot of profits for the owners, the investors, and the people who are part of the firm.
Most of these businesses are those in the field of real estate. When it comes to real estate companies, Megaworld Corp will surely not lag behind. The firm develops large-scale communities for commercial, educational, and residential purposes.
It is the developer behind the 6-hectare commercial district in Taguig, the Forbes Town Center. It is also the company behind the Petron Megaplaza office skyscraper which has 45 floors. This company was founded by Andrew Tan.
The success of Megaworld Corp continued. It was able to build a lot of big projects that only drew more clients and made the business bigger. However, recently, the public was surprised when the Bureau of Internal Revenue (BIR) requested media coverage for the issuance of a closure order for the real estate company.
The order was linked to tax liabilities of the real estate company. Megaworld Corp was quick to act on the order citing that the company is regularly going through BIR Head Office’s Large Taxpayers Service audit. Based on the report, the company further clarified that all the tax returns until 2020 were checked and all the previous deficiencies have already been paid.
MegaWorld Corp stressed that it has resolved the issues with the BIR and it has no unpaid tax dues. The company stressed that it remains committed to “maintain its stance of full cooperation” with the people working in the tax department.
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