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Meralco is top corporate taxpayer for 2014

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Meralco is top corporate taxpayer for 2014
Meralco topped the list of corporate taxpayers for taxable year 2014 with income tax payments of P9.686 billion, according to the Bureau of Internal Revenue

MANILA, Philippines – Power retailer Manila Electric Co. (Meralco) topped the country’s non-individual taxpayers for taxable year 2014, dislodging telecommunications giant Smart Communications Inc.

Meralco topped the list of corporate taxpayers for taxable year 2014 with income tax payments of P9.686 billion, based on data released by the Bureau of Internal Revenue (BIR).

Smart slipped to second place, declaring income taxes amounting to P9.455 billion. Its income tax due for the previous taxable year amounted to P10.891 billion.

Food and beverage company Nestle Philippines Inc. was third with P5.344 billion, followed by Shell Philippines Explorations B.V. (P5.28 billion) and Chevron Malampaya LLC (P5.247 billion).

Beer producer San Miguel Brewery Inc., fell to sixth place from third spot in the previous taxable year, with an income tax due of P4.877 billion.

Globe Telecom Inc. remained at seventh spot with income tax due of P4.739 billion.

Unilever Philippines Inc. placed eighth with P3.146 billion, followed by mall operator SM Prime Holdings Inc., with income tax due of P3.129 billion for taxable year 2014.

BDO Unibank, Inc. was at tenth place with payments amounting to P3.114 billion. – Rappler.com

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