2 MVP-led firms top taxpayers in 2013
Manuel V. Pangilinan AP FILE PHOTO
Two companies led by tycoon Manuel V. Pangilinan were the top corporate taxpayers in 2013, the Bureau of Internal Revenue (BIR) reported Wednesday.
Citing data as of March 6, 2015, ranked No. 1 non-individual taxpayer during taxable year 2013 was Smart Communications Inc., which had an income tax due of P10.89 billion. In 2012, Smart Communications was the No. 2 corporate taxpayer with payments of P7.94 billion.
The second-highest income tax paid by a non-individual last 2013 was P9.69 billion by Manila Electric Co. (Meralco). In the previous year, Meralco edged out Smart as the top corporate taxpayer with an income tax due worth P9.346 billion.
Smart and Meralco were also ranked first and second, respectively, in 2011. Pangilinan chairs both Meralco and Smart.
In 2013, San Miguel Brewery Inc., whose income tax due was P4.88 billion, placed third. The Ramon Ang-led firm ranked eighth during the previous taxable year even if it paid a higher P5.08 billion in taxes.
Rounding up the top 10 corporate taxpayers of 2013 were Nestlé Philippines Inc. (P4.81 billion), Chevron Malampaya LLC (P4.52 billion); Shell Philippines Exploration B.V. (P4.48 billion), Globe Telecom Inc. (P4 billion), Philip Morris Fortune Tobacco Inc. (P3.42 billion), Chemwealth Inc. (P2.91 billion) and SM Prime Holdings Inc. (P2.777 billion).
State-run Food Terminal Inc. (FTI), which paid P6.6 billion in income tax and ranked third in 2012, was no longer in the list of the top 500 non-individual taxpayers in 2013. To recall, FTI sold a huge chunk of its 74-hectare property in Taguig City to Ayala Land Inc. for P24.3 billion in 2012.
Ranked 11th to 20th biggest corporate taxpayers in 2012 were Philippine Amusement and Gaming Corp. (Pagcor), Metro Rail Transit Corp, Land Bank of the Philippines, Emperador Distillers Inc., Unilever Philippines Inc., Manila Water Co. Inc., Holcim Philippines Inc., Monde Nissin Corp., Toyota Motor Philippines Corp. and Ayala Land Inc.
For 2015, the BIR’s large taxpayers service aims to collect up to P1.07 trillion in income taxes from big companies.
