Ayala group pays P9.86-B of taxes ahead of extended deadline

BUSINESS
May 18, 2020

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Makati City, Philippines – May 18, 2020 Companies within the Ayala group settled taxes of about P9.86-B before the extended June 14, 2020 deadline to help boost the government’s coffers and allotment to COVID-19 response, as the country gears up for the “new normal.”
    The core value drivers of the Ayala group—Ayala Corporation, Ayala Land, Inc., Bank of the Philippine Islands, Globe Telecommunications, Inc., AC Energy, and Manila Water Corporation—paid a total of P9,858,293,348 of taxes.
    In a joint statement made last week, brothers Jaime Augusto Zobel de Ayala and Fernando Zobel de Ayala, who serve as the group’s chairman and president, respectively, expressed their gratitude to President Rodrigo Duterte for recognizing Ayala’s support to the government’s initiatives.
    “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 joint statement reads.
    The brothers also emphasized the importance of public–private cooperation as the country deals with the vast impact of the pandemic.
Group-wide Bayanihan
    To date, the Ayala group has 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.


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