Philippine’s BIR Lifts its Closure Order Against GEGAC
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The Bureau of Internal Revenue (BIR) in the Philippines has lifted its closure order against Great Empire Gaming and Amusement Corporation (GEGAC).
In an issuance dated September 27 but made available to media on October 1, the BIR said GEGAC was able to comply with the requirements under the National Internal Revenue Code and can now operate in the Subic Bay Freeport Zone, Aseana City in Parañaque City and Eastwood Plaza in Quezon City.
BIR Commissioner Caesar Dulay said the tax assessment was estimated at P1.3 billion.
GEGAC agreed to pay P250 million initially and will settle the remaining balance in 3 months through post-dated cheques.
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