A construction firm with a big number of projects from the Department of Public Works and Highways (DPWH) recorded a low income tax payment for 2012, according to Tax Watch Campaign ad of the Department of Finance (DOF) and the Bureau of Internal Revenue (BIR).
Cavite Ideal International Construction and Development Corp. (Cavdeal) got contracts from the DPWH worth P15 billion in 2012, but paid only P2.9 million in taxes for the same year.
“[There are also] two top DPWH contractors [that]have no 2012 ITR [income tax return],” the DOF and BIR said in the Tax Watch ad, citing GCI Construction and Development Corp with P7.9 billion revenues, and JSG Construction Co. Inc. with P5.4 billion. Both firms have no ITRs for last year.
On the other hand, the second and third top-grossing DPWH contractors that were listed as top taxpayers among contractors were: Equi-Parco Construction Co. with P13.6-billion revenues that paid taxes of P38.32 million; and Northern Builders with P13.9-billion worth of projects registering a total of P38.31 million in its 2012 ITRs.
The top contractor-taxpayer, DMCI Project Developers Inc., accredited under the Philippine Contractors Accreditation Board (PCAB), paid P1.1 billion in taxes for 2012.
“Out of the 25 top PCAB contractors, only three are top DPWH contractors,” DOF and BIR said, referring to Northern Builders and Vicente T. Lao Construction, among others.
Apart from Cavdeal, the other top DPWH contractors with the lowest income taxes for 2012 include Ciriaco Corp. with P5.2-billion revenues but only P1.1 million in income taxes paid; Sunwest Construction Development Corp. with P7.5 billion revenues against P3.9 million taxes paid; and Filbest Construction and Supplies Corp. with P4.3-billion revenues against P270,780 taxes paid.
Kristyn Nika M. Lazo