The Department of Finance (DOF) is urging the public to stop patronizing restaurants which do not pay the right taxes.
Finance Secretary Cesar Purisima said that the gross profit margin for a food business is about 50 percent, while other large expenses include rent and employees’ salaries.
“Other than that, it’s salary. So would that mean that these companies are making P30,000, or about P60,000 a month?” he added.
“When you go to restaurant in Makati, you have to fall in line and make reservations in some cases. Is your favorite restaurant among the top taxpayers? Because if they’re not, I would recommend that you stop patronizing them,” Purisima added.
In a presentation, the DOF chief disclosed the top 50 restaurants which paid the highest amount of taxes in Makati City in 2011.
For the top 10, El Cielito Tourist Inn Inc. was ranked at no. 1 which paid P39.54 million. It was followed by Yellow Cab Food Corp. with P17.57 million.
Third is Max’s Makati Inc. with P3.43 million. Ranked fourth is the Sugi Management Corp., which owns the Sugi Japanese restaurant with P2.31 million and at fifth is DFSI-One Nakpil Inc., the owner of Dencio’s Grill with P1.42 million.
Other restaurants in the top 10 were: Golden Pizza Inc. with P1.36 million; Shanjon Specialty Foods Inc. with P1.29 million; Via Mare Corp. with P1.2 million; Ballpark Snacks Inc. with P1.18 million and Bistro Americano Pedro Gil with P1.11 million.
“If you like to eat out, these are the top 10 restaurants in Makati in terms of income tax payment. Is your favorite resto [on]this list? If it is not [on]this list, the next time you go to your favorite resto, better ask the owner, why?” Purisima said.