Ayala Group pays taxes in advance
The Ayala Group has advanced part of its tax payments to help boost government coffers, a move that comes on the heels of President Duterte’s move to extend the olive branch to the Zobel brothers.
Ayala has paid P9.86 billion in taxes before the June 14 deadline as part of its support to the country’s coronavirus disease 2019 or COVID-19 response.
Ayala companies Ayala Corp., Ayala Land Inc., Bank of the Philippine Islands, Globe Telecommunications Inc., AC Energy, and Manila Water
Corp. pooled together their advance tax payments, reaching a total of P9.86 billion.
“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,” said brothers Jaime Augusto Zobel de Ayala and Fernando Zobel de Ayala, who serve as the group’s chairman and president, respectively.
Early this month, President Duterte apologized to the Zobels and to tycoon Manuel V. Pangilinan for his relentless attack since last year regarding what he deemed as “onerous provisions” in the privatization contracts between government and the two water concessionaires.
The Ayala Group owns Manila Water Co., the east zone water concessionaire, while Pangilinan-led Maynilad Water Services Inc. is the country’s west zone concessionaire.
The tycoons accepted the olive branch and assured the government of their continued support.
The Zobels have expressed their gratitude to President Duterte for recognizing Ayala’s support to the government’s initiatives.
The brothers also emphasized the importance of publicprivate cooperation as the country deals with the vast impact of the pandemic.
The Ayala Group has so contributed about P5.6 billion in anti-COVID-19 initiatives aimed to protect its employees, support its partners and clients, and provide for the communities it serves.
It also supported the conversion of the World Trade Center into a 500-bed quarantine facility with controlled isolation cubicles as well as examination rooms and quarters for medical personnel.