Pacquiao tops BIR list of individual taxpayers
MANILA, Philippines (UPDATED) – Boxing great Manny Pacquiao is No. 1 on the list of the Bureau of Internal Revenue (BIR).
That's as far as its list of top individual tax payments for 2013 goes. The BIR list covers only regular income tax payments made as of November 24, 2014.
The boxing champ, the only individual who broke the P100-million mark on the list, paid a total of P163.84 million ($3.6 million) in regular income taxes.
Pacquiao, who is currently facing a tax charge from the BIR, is set for a major payday in May this year when he faces rival Floyd Mayweather Jr. Interest in the bout has soared, leading Senator Aquino Pimentel III to announce that he would pass a bill granting Pacquiao a tax exemption for the fight.
Of the 12 Filipinos included on Forbes 2015 list of billionaires, only one was in the top 10 of top taxpayers. The Philippines' richest man in 2015, SM’s Henry Sy, was only the 85th highest taxpayer, paying a total of P18.5 million ($412,000).
Andrew Tan, the 4th richest Filipino in 2014, landed 5th on the BIR list having paid P67.1 million ($1.49 million). He led top business taxpayers on the list. Tan is chairman of Alliance Global, the holding firm which controls Megaworld Corporation, Resorts World Manila, and Emperador Distillers.
The second highest taxpayer, Juanito Alcantara, paid a total of P99.6 million ($2.2 million). Veteran lawyer Estelito Mendoza, who represents Senator Juan Ponce-Enrile in his plunder case, came in 3rd at P71.3 million ($1.59 million), followed by Reynaldo Benoza Chico Jr with P67.34 million ($1.5 million).
Lorenzo Tan, president of Rizal Banking Corporation (RCBC) who paid P60.9 million ($1.35 million), was 6th on the list, after Andrew Tan.
Palawan Governor Jose Alvarez placed 7th with P55.62 million ($1.24 million), while Vivian Que Azcona of Mercury Drug placed 8th at P51.6 million ($1.15 million).
Meralco president Oscar Reyes was 9th with P51.44 million ($1.15 million), followed by Vicente Ayllon, chairman of Life Insurance giant Insular Life, at 10th, paying P50.08 million ($1.12 million).
Prominent media personalities Piolo Pascual, John Lloyd Cruz, and Kris Aquino figured high on the list placing 15th,16th, and 17th, respectively. Pascual paid P42.5 million ($948,000); Cruz, P41.9 million ($934,000); and Aquino, P40.4 million ($901,000).
Meanwhile, Smart Communications and Meralco, headed the BIR list of top top-non individual taxpayers for 2013. Smart topped the list, paying income taxes of P10.89 billion ($242 million) while Meralco paid P9.69 billion ($216 million).
Both firms are led by Manny V. Pangilinan, who placed 27th on the individual taxpayers' list, paying P31.6 million ($705,000). – with a report from Agence France-Presse/Rappler.com
US$1 = P44.81