PLDT Inc. on Friday said Makati City has lifted the closure order against its mobile telecommunications arm Smart Communications Inc. after the two parties entered into a compromise deal.
In a disclosure to the Philippine Stock Exchange, PLDT said the Makati City government issued an order dated March 2 lifting the February 27 closure order against Smart —which has its headquarters in the city.in Barangay San Lorenzo on Ayala Avenue for allegedly violating Section 4A.01 of the Revised Makati Revenue Code or City Ordinance No. 2004-A-025 as it failed to settle its P3.
In its regulatory filing to the PSE, PLDT said Smart and the Makati LGU executed a compromise agreement on March 2, 2023 “stating the terms of settlement of their pending local taxation issues.” “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 assures the public and its customers that services remain available and accessible to all,” it said.
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