Meralco tops list of biggest income taxpayers in 2014
Prinz Magtulis (Philstar.com) - January 20, 2016 - 8:25pm

MANILA, Philippines - Manila Electric Co. (Meralco), the country's largest power distributor, was also the biggest income taxpayer of 2014, according to a list released by the Bureau of Internal Revenue (BIR) on Thursday.

Meralco paid a total of P9.686 billion in income taxes that year, dislodging Smart Communications Inc. from the top spot the previous year. Smart paid P9.455 billion.

At far third, moving a notch from 2013 was Nestle Philippines with P5.344 billion in income taxes paid, followed by oil firm Shell Philippines Exploration B.V. with P5.280 billion.

Chevron Malampaya LLC., a service contractor for the natural gas plant off Palawan, was at fifth place with P5.247 billion. Diversified conglomerate San Miguel Corp., which ranked third on 2013, dropped to sixth with P4.877 billion.

Completing the top 10 with their corresponding tax payments were Globe Telecom Inc. (P4.739 billion), Unilever Philippines Inc. (P3.146 billion), and SM Prime Holdings Inc. (P3.129 billion).

BIR Commissioner Kim Jacinto-Henares earlier said the agency releases the top 500 individual and non-individual income taxpayers to comply with the law that required them to actually list every tax payment made.

For 2014, the top individual taxpayer was Jacinto Ng, founder of the popular Filipino biscuit brand Rebisco. 

He paid P280.11 million in income taxes to beat Saranggani representative and boxing icon Manny Pacquiao.

 

BILLION BUREAU OF INTERNAL REVENUE CHEVRON MALAMPAYA COMMISSIONER KIM JACINTO-HENARES GLOBE TELECOM INC JACINTO NG MANILA ELECTRIC CO MANNY PACQUIAO MERALCO NESTLE PHILIPPINES PRIME HOLDINGS INC
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