The latest Tax Watch release of the Department of Finance (DOF) and Bureau of Internal Revenue (BIR) evaluated the Forbes’ top grossing individuals in the Philippines if they are also among the top taxpayers of 2012.
According to the Tax Watch ad, the accumulated income tax returns (ITR) of the richest tycoon and owner of the SM empire Henry Sy and his family totaled to P93.8 million in 2012.
This means that the richest family in the country is not the top taxpayer, but the 20th on the richest list, who is Vivian Que Azona and her family, paid P131 million in income tax last year.
Meanwhile, the other richest individuals in the Philippines following Sy paid below P20 million including Lucio Tan and family (P18 million), Enrique Razon Jr. (P19 million), John Gokongwei Jr. and family (P16.8 million), as well as David Consuji and family (P14.3 million).
They were followed by Andrew Tan with P39.6 million, Jaime Zobel de Ayala and family with P81.6 million, George Ty and family with P38 million, and Roberto Ongpin with P7.4 million. The 10th richest Filipino, Eduardo Cojuangco Jr., did not have a recorded ITR in 2012.
Meanwhile, Jon Ramon Aboitiz and family paid taxes of P99.6 million, and Oscar Lopez and family, P90.6 million.
Others included in the top 40 richest Filipinos but paid below P10 million were Ongpin (P7.4 million), Roberto Cojuanco (P7.1 million), Tony Tan Caktiong and family (P8.7 million), Emilio Yap (P6.7 million), Betty Ang (P8.3 million), Willfred Uytengsu Jr. and family (P9.5 million), Frederick Dy (P8.8 million), Jose Antonio (P6.5 million) and Manuel Zamora (P6 million).