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BIR branch says it has closure order authority vs. Megaworld

Published: May 21, 2022

MANILA -Bureau of Internal Revenue (BIR) Revenue Region No. 8B-South NCR (National Capital Region) said it has jurisdiction to implement close order against Megaworld Corporation in line with the auditing on the sale of some of the company's properties. In a statement on Friday, the BIR said the enforcement activity which was supposed to conduct on the real estate company last May 18, was "supported by a Revenue Special Order signed by the Commissioner of Internal Revenue." It said, "the investigation involves the verification of taxes on One-Time Transactions (OneTT) on the...

Source: philippinetimes.com

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Taguig City City Of Taguig Regional Office Megaworld Corporation Bureau Of Internal Revenue National Office Large Taxpayer Service Large Taxpayers Service National Capital Region Internal Revenue Revenue Region Revenue Special Order One Time Transactions Tax Code Manila Bureau Of Internal Revenue Bir Region No 8b South Ncr National Capital Said It Has Jurisdiction To Implement Close Order Against Megaworld Corporation In Line With The Auditing On Sale Some Company 39s Properties Ina Statement Friday He Bir Said The Enforcement Activity Which Was Supposed To Conduct On Real Estate Company Last May 18 As Quot Supported Bya Revenue Special Order Signed By The Commissioner Of Internal It Said Uot The Investigation Involves Verification Of Taxes On One Time Transactions Onett Sale Transfer Properties By Megaworld Quot Although Is Considereda Large Taxpayer Under Jurisdiction Taxpayers Service Ir National Office Nett Falls Under The Jurisdiction Of Bir Regional Offices Since Situs Taxation Sale Nd Other Disposition Of Real Properties Is Where The Property Located Uot It Said The Statement Also That Quot Properties Being Subjected To Investigation Are Located Within Premises Of Taguig City Hich Clearly Falls Within The Jurisdiction Of Said Bir Regional Office And Not With Large Taxpayer Service Quot It Real Estate Firm Failed In Its Compliance Reportorial Requirements Under Tax Code Failure To Comply Isa Ground For Closure Uot It Said The Statement Further That Megaworld Has Agreed To Comply With Audit Uot Hence

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BIR branch says it has closure order authority vs. Megaworld