MANILA, Philippines– The Makati City local government unit (LGU) has lifted the closure order against Pangilinan-led Smart Communications after the two parties reached a compromise agreement over the telco’s allegedly unpaid P3.2 billion taxes.

In a stock exchange filing on Friday, March 3, PLDT, parent company of Smart, said the settlement was reached on March 2 after Smart submitted to the Makati LGU its accounting records in relation to revenues generated within the territorial jurisdiction of the city.

Makati’s Office of the City Treasurer earlier asked Smart to provide it with a breakdown of revenues and business taxes paid in all branches nationwide.

Details of the tax payment in the compromise deal were not specified in the disclosure. Smart’s business permit status, which was also subject of the closure order, was not mentioned in the release.

“Smart remains committed to complying with Makati City’s local tax ordinances, and with relevant national laws, applicable in respect of local taxation, and thanks the Makati LGU for its prompt action to resolve the matter,” Smart and PLDT’s statement read.

Michael Camiña, Makati City legal officer and spokesman, confirmed that the closure order has been lifted “following the submission of documents in compliance with an earlier government order and court rulings.”

“Again, we would like to remind all businesses operating in the city to comply with city ordinances and regulations,” Camiña said. – Rappler.com

PLDT points to Duterte’s tirades, ‘intense competition’ in budget fiasco