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BIR-Megaworld fiasco reaches 'way forward' after House hearing

House Ways and Means Committee Chair Joey Salceda (File photo) MANILA - The House Ways and Means Committee on Monday said it has "reached a way forward" regarding the controversy involving the Bureau of Internal Revenue and Megaworld Corp., particularly on what legislation and tax administration rules are needed to ensure that similar incidents are avoided in the future. This development came after the panel conducted a briefing for clarification on the Bureau of Internal Revenue's verification of taxes on one-time transactions (ONETT), involving Megaworld Corporation's sale or transfer of properties. The tax verification on Megaworld's ONETT transactions resulted in the BIR's now-suspended closure order. House Ways and Means Committee Chair Joey Salceda said the committee will recommend to the tax agencies ways to improve procedures on taxpayer dispute, rules on joint ventures (JVs), and matter of jurisdiction. "There are three main recommendations we ar ....

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What went wrong?: BIR, Megaworld face off in House inquiry

What went wrong?: BIR, Megaworld face off in House inquiry
philstar.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from philstar.com Daily Mail and Mail on Sunday newspapers.

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Megaworld says it has no closure order from BIR chief

Megaworld Corp. said the company had no pending closure order from the government's chief tax collector as the publicly-listed property firm maintained it paid all its obligations with the Bureau of Internal Revenue (BIR).
In a statement Wednesday, May 18, Megaword said that the fiasco over the rep ....

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Megaworld says BIR issue already 'resolved'

Megaworld says BIR issue already 'resolved'
cnnphilippines.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from cnnphilippines.com Daily Mail and Mail on Sunday newspapers.

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