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Taxation

2010 Top 500 Corporate (Non-individual) and Individual Taxpayers in the Philippines

Have you ever wondered who are the top income tax payers in the Philippines for the year 2010?  You might be surprised finding out that the Company you are working for, the individuals you idolized and known well, or even those very low-profiled entities and individuals are included in the top 500 corporate tax payers or top 500 individual tax payers.  Well, just check the list to find out…

One of the highest earner is the “Pacman”, most commonly known as Manny Pacquiao (Emmanuel D. Pacquiao), with taxable income of P505 million in 2010, paid only P9.1 million in income tax and ranked only 135th on the top 500 individual tax payers.

Boy Abunda’s (Eugenio Abunda Jr.) taxable income for the year 2010 amounted only to P29 million but he paid income tax of P9.2 million and ranked 134th in the list, followed by Manny Pacquiao.

Imagine, Pacquiao earned P505  million while Abunda earned only P29 million but they paid almost the same tax?  We are not saying that there’s an issue but we are just trying to figure out the case.  In the Philippines, those rich get richer and those poor get poorer, that is why sometimes we are very skeptic of the these kind of differences.  Are income earned by Pacquiao abroad not taxable?  Well, we know that income earned by a resident citizen are taxable even those are earned outside the country.

Moving forward, here are the top 10 corporate and individual tax payers:

Corporate

  1. Smart Communications, Inc.
  2. Chevron Malampaya LLC
  3. Shell Philippines Exploration, B.V.
  4. Nestle Philippines, Inc.
  5. San Miguel Brewery, Inc.
  6. Globe Telecom, Inc.
  7. Metro Rail Transit Corporation
  8. SM Prime Holdings, Inc.
  9. Philex Mining Corp.
  10. San Miguel Energy Corporation

Individual

  1. Vicente Tan Lao
  2. Rolando Bonifacio Hortaliza
  3. Carlo Jose Caparas
  4. Martin L Oniel
  5. Vivian Que Azcona
  6. Gregory Deane Reichow
  7. Napoleon Logarta Nazareno
  8. Orlando Banzon Vea
  9. Daniel Edmund Chalmers
  10. Ronaldo Romero Soliman

We know you are excited to see the full list.  So here it is, click the full list below:

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About leecpa

Orlando Calundan is a Certified Public Accountant. He has exposures in audit of financial statements of entities in various industries such as real estate, food (quick service restaurants), manufacturing, service organizations and BPOs, automotive, holding/investment companies and more. He also has exposure on internal audit engagements. http://calundan.co

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