PLDT’s mobile phone unit, Smart Communications, has reopened its headquarters and branches in Makati City after the local government lifted a four-day closure order.
This move comes as a major relief to PLDT chairman, Manny V. Pangilinan.
In a statement, PLDT said that it had reached a settlement regarding allegations of nonpayment of a P3.5 billion franchise tax assessed by Makati between 2012 and 2015.
The Court of Tax Appeals had upheld a Makati court’s decision, which compelled the Salim-controlled franchise to open its books for audit by Mayor Abby Binay, leading to the resolution of the dispute.
PLDT confirmed that the settlement was reached after Smart submitted its accounting records reflecting revenues generated within the territorial jurisdiction of Makati for the relevant periods.