Manila Electric Co. (Meralco) was the country’s largest corporate income taxpayer in 2014, according to the Bureau of Internal Revenue (BIR).
The country’s largest power distributor paid P9.686 billion that year based on the agency’s Top 500 Non-individual Taxpayers list, with Smart Communications, Inc. taking second place with P9.454 billion.
Ranked third in the 2014 list was Nestle Philippines Inc., which remitted P5.344 billion to the BIR.
In fourth and fifth were Shell Philippines Exploration, B.V. and Chevron Malampaya LLC, which respectively paid income taxes totaling P5.279 billion and P5.246 billion.
Beer-maker San Miguel Brewery, Inc. was sixth at P4.877 billion, ahead of Globe Telecom, Inc., which turned in P4.739 billion.
Unilever Philippines, Inc. was in eighth place after paying P3.145 billion, followed by the country’s biggest mall developer, SM Prime Holdings, Inc, which was ninth with P3.129 billion.
Rounding up the top 10 corporate taxpayers of 2014, with a tax bill of P3.114 billion, was Banco De Oro Unibank Inc.
Among the other corporations in the Top 500 Non-individual Taxpayers list were Toyota Motor Phils. Corp., Bloombery Resorts and Hotels, Inc., Metro Rail Transit Corp., Holcim Philippines, Inc., Universal Robina Corp., Bank of the Philippine Islands, Emperador Distillers, Inc., Fort Bonifacio Development Corp. and Manila Water Co., Inc.