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MANILA, Philippines – Only 25 out of the 40 richest Filipinos in 2012 are among the top 500 individual taxpayers.
This is according to the latest “Tax Watch” ad released by the Department of Finance and the Bureau of Internal Revenue (BIR) that’s meant to name and shame tax evaders.
The ad is the latest in an ongoing campaign to improve tax collections, which make the country less reliant on debts to finance the government’s public services. Previous ads included top restaurants and beauty parlors.
The Tax Watch ad on Wednesday, October 23 showed whether or not the 40 richest Filipinos in Forbes Magazine’s prestigious 2012 Philippines’ richest list were also the top individual taxpayers in 2012.
Forbes, which bases its rankings on estimated networth, released an updated list for 2013 that expanded to 50. Forbes placed that aggregate wealth of the 50 richest Filipinos in 2013 at US$65.8 billion, more than a quarter of the country’s total gross domestic product.
Celebrities like presidential sister Kris Aquino and TV host Willie Revillame used to lead the government’s taxpayers list, but the owner of Mercury Drug retail chain, Vivian Que Azcona, surprisingly landed at top of the recent list. She was the 20th richest in the country, according to Forbes’ 2012 list, and 19th richest this year. (See how her wealth expanded from 2006 to 2013.)
Other tycoons figured far lower in the BIR rankings, and some are not even among the 500 top taxpayers.
Interestingly, some of the patriarchs of the rich families paid less taxes than their own children who are also involved in the business empires. Some examples are members of the Sy, Gokongwei, Zobel, and Aboitiz families.
BIR chief Kim Henares previously cited other income sources, including dividends, bank deposits, stock transactions and unlisted shares and other assets as reasons for the discrepancy between the lists of taxpayers and richest Filipinos.
RICHEST FILIPINOS (based on 2012 networth) | KEY BUSINESSES | RANK ON 2012 FORBES LIST | TOP INDIVIDUAL TAXPAYERS | RANK ON 2012 BIR LIST | TOTAL Regular INCOME TAXES PAID |
---|---|---|---|---|---|
HENRY SY & family |
Holding firm SM Investments Corp; real estate and retail behemoth SM Prime |
1 | Henry Sy, Jr. Mr. Henry Sy, Sr. Hans Sy Harley Sy Herbert Sy Elizabeth Sy Teresita Sy Mrs. Felicidad Sy |
73 74 104 157 159 236 262 263 |
93,756,579 |
LUCIO TAN & family |
LT Group |
2 | Lucio Tan Harry Tan Jr |
138 477 |
17,956,874.38 |
ENRIQUE RAZON JR |
International Container Terminal Services (ICTSI) |
3 | Enrique Razon Jr | 52 | 19,029,900.80 |
JOHN GOKONGWEI JR & family |
JG Summit Holdings |
4 | Lance Gokongwei John Gokongwei Jr |
255 260 |
16,817,628.87 |
DAVID CONSUNJI & family |
Construction and power conglomerate DMCI Holdings |
5 | Victor Consunji Isidro Consunji |
299 384 |
14,279,281.13 |
ANDREW TAN |
Alliance Global |
6 | Andrew Tan | 12 | 39,605,000.00 |
JAIME ZOBEL DE AYALA & family |
Ayala Corp |
7 | Fernando Zobel de Ayala Jaime Augusto Zobel de Ayala |
10 11 |
81,623,920.52 |
GEORGE TY & family |
GT Capital Holdings |
8 | Arthur Ty George Ty Alfred Ty Mary Ty |
77 224 388 436 |
38,022,264,73 |
ROBERTO ONGPIN |
Property developer Alphaland |
9 | Roberto Ongpin | 310 | 7,427,325.00 |
EDUARDO COJUANGCO JR | Chair of San Miguel Corp (biggest business group) | 10 | NOT IN LIST | n/a | n/a |
ROBERTO COYIUTO JR |
Power transmission firm National Grid |
11 | Roberto Coyiuto | 342 | 7,101,286.87 |
TONY TAN CAKTIONG & family | Food giant Jollibee | 12 | Tony Tan Caktiong | 247 | 8,664,566.59 |
LUCIO and SUSANA CO | Retail giant Puregold | 13 | Lucio Co | 47 | 19,763,899.00 |
IÑIGO and MERCEDES ZOBEL |
Ayala Corp |
14 | NOT IN LIST | n/a | n/a |
EMILIO YAP |
Manila Bulletin |
15 | Emilio Yap | 383 | 6,737,913.91 |
JON RAMON ABOITIZ & family |
Aboitiz Equity Ventures |
16 | Justo Aboitiz Ortiz Erramon Isidro Aboitiz Iker Aboitiz Jon Ramon Aboitiz Mikel Alberto Aboitiz Enrique Aboitiz Jr |
16 31 136 167 214 222 |
99,580,681.53 |
ANDREW GOTIANUN & family | Property developer FilInvest | 17 | NOT IN LIST | n/a | n/a |
MANUEL VILLAR |
Former senator (richest lawmaker) |
18 | NOT IN LIST | n/a | n/a |
BEATRICE CAMPOS & family | Drug manufacturer Unilab | 19 | Joselito Campos Jr | 115 | 12,775,342.40 |
VIVIAN QUE AZCONA & family |
Retailer Mercury Drug |
20 | Vivian Que Azcona | 1 | 131,434,036.34 |
ALFONSO YUCHENGCO & family |
House of Investments |
21 | NO ONE IN THE LIST | n/a | n/a |
MARIANO TAN JR | One of Unilab founders | 22 | NOT IN LIST | n/a | n/a |
ENRIQUE ABOITIZ | 23 | (consolidated into Aboitiz group; see above) | n/a | n/a | |
ERIC RECTO |
Oil giant Petron Corporation |
24 | Eric Recto | 184 | 10,169,432.17 |
JOSE ANTONIO | Luxury property developer Century Properties | 25 | Jose Antonio | 404 | 6,498,729.09 |
GILBERTO DUAVIT & family | GMA Network, one of controlling shareholders | 26 | Gilberto Duavit Jr | 61 | 18,238,926.83 |
MENARDO JIMENEZ | GMA Network, one of 3 owners | 27 | NOT IN LIST | n/a | n/a |
FREDERIC DY | Security Bank | 28 | Frederic Dy | 238 | 8,812,620.90 |
MANUEL ZAMORA JR | Mining firm Nickel Asia | 29 | Manuel Zamora Jr | 467 | 6,042,050.48 |
ALFREDO RAMOS & family |
Retail giant National Book Store |
30 | NOT IN LIST | n/a | n/a |
OSCAR LOPEZ & FAMILY |
Holding firms Lopez Holdings and Lopez Inc. |
31 | Oscar Lopez Federico Lopez Eugenio Lopez III Manuel Lopez |
17 25 43 203 |
90,621,234.76 |
FELIPE GOZON & family | GMA Network, one of 3 key owners | 32 | Felipe Gozon Menardo Gozon Jimenez Jr Joel Marcelo Gozon Jimenez |
41 229 297 |
37,526,276.36 |
BETTY ANG | Monde Nissin, maker of ‘Lucky Me’ instant noodles | 33 | Betty Ang | 265 | 8,341,321.36 |
WILFRED UYTENGSU JR & family | Alaska Milk | 34 | Wilfred Uytengsu Jr | 215 | 9,482,155.52 |
JULIET ROMUALDEZ |
Widow of Benjamin Romualdez who previously owned BDO Unibank |
35 | NOT IN LIST | n/a | n/a |
BIENVENIDO TANTOCO SR & family | Upscale retail chain Rustan’s, Marks & Spencer franchise, Starbucks, Prada, Payless shoes, other brands | 36 | NOT IN LIST | n/a | n/a |
JACINTO NG SR |
Asia United Bank |
37 | NOT IN LIST | n/a | n/a |
TOMAS ALCANTARA & family | Power and mining firm Alsons Consolidated | 38 | NOT IN LIST | n/a | n/a |
MICHAEL COSIQUIEN | Construction firm Megawide | 39 | NOT IN LIST | n/a | n/a |
EDGAR SIA III | Founder of Mang Inasal food chain | 40 | NOT IN LIST | n/a | n/a |
– Rappler.com
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