Megaworld Says It Has 'No Outstanding, Unpaid' Taxes

Megaworld Corp said Wednesday it had no outstanding or unpaid taxes and that it had not been served a closure order, clarifying reports that such a directive was due.

The proerty developer led by billionaire Andrew Tan said an "initial disagreement" with a BIR regional office over its tax audit jurisdiction was "clarified and resolved" on Tuesday.

The Manila Bulletin newspaper on Tuesday posted on Twitter a BIR advisory for the media seeking coverage Wednesday for the service of a "closure order" on Megaworld.

"Megaworld has not received any closure order duly approved by the Commissioner of Internal Revenue," the company said.

"Records with the BIR will confirm that Megaworld has no outstanding or unpaid past tax liabilities needing any enforcement action," it added.

For pending audits, Megaworld said it would extend "full cooperation with the tax authorities in accordance with their mandate to collect badly needed revenues for the government".