BIR and Megaworld face off in a House investigation

Philstar Global

May 24, 2022

EXCERPT


According to Megaworld, it wrote back to the BIR days later, calling out an issue of "jurisdictional overlap" since the letters were not directed towards the joint venture of BCDA and Megaworld, which was created after the Tan-led firm won a public bidding back in 2009.


Cracks in their correspondence became visible as Megaworld has not agreed to be audited while BIR sought to exercise all legal options to secure an audit and access to Megaworld's accounting records. Ma. Clara Uykim, head of Megaworld's corporate advisory and compliance division, said the BIR “denied our claim”.


Megaworld submitted another protest letter on May 5 but was surprised that a media advisory pertaining to a closure order to be issued against the firm was already in the works, saying it was "like a gun to our head."


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