By Prinz Magtulis (philstar.com)
| Updated January 21, 2016 - 11:25am
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.
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