Ayala Group pays P9.86B in taxes

The Ayala Group on Monday said it has remitted some P9.86 billion in taxes to the government, which it said would boost the government's coffers against the coronavirus disease.

In an emailed statement, the Ayala Group said the amount was settled by its main businesses -- AC Energy, Ayala Corp., Ayala Land Inc., Bank of the Philippine Islands, Globe Telecom Inc., and Manila Water Corp.

This comes even as the Bureau of Internal revenue (BIR) extended the statutory deadlines and timeline for the filing and submission of any document and payment of taxes after the government implemented an enhanced quarantine in Metro Manila and other high-risk areas.

To recall, the Zobel de Ayala brothers earlier this month welcomed the apology made by President Rodrigo Duterte, recognizing the company's assistance in efforts against the global pandemic.

Duterte two weeks ago apologized to the Zobels, as well as business tycoon Manuel Pangilinan, whom he earlier criticized for supposedly onerous deals in the water distribution sector.

"We are committed to help the President tackle the many challenges he has to deal with and are confident that by working together, our country can overcome each challenge, save lives, and gradually put the country back on a path of growth," the Zobel de Ayala brothers said in a joint statement.—AOL, GMA News