Monday, October 14, 2013

Mercury Drug owner Tops BIR's Taxpayers list

BIR, Philippine News, BIR's Taxpayers list

Vivian Que Azcona owner of Mercury Drug is the BIR's top individual income taxpayer for 2012, stated on the report of the Bureau of Internal Revenue (BIR). She paid P131.43 million in income tax.

The report is on the Top 500 income taxpayers for last year released by BIR yesterday.

TV host Wilfredo Buendia Revillame or Willie Revillame, is in second. He payed an income tax of P63.9 million.

At No. 3 was Estelito Mendoza of E.P. Mendoza Law Office, his income tax is P56.59 million.

Kristina Bernadette Aquino, or “Kris,” youngest sister of President Aquino, was in 6th place, she paid P44.93 million.

John Lloyd Cruz and Sharon Cuneta-Pangilinan settled for eighth and ninth place, with tax payments of P42.79 million and P42.025 million, respectively.

The Zobel brothers took the 10th and 11th spots. Fernando Zobel de Ayala paid P40.85 million and Jaime Augusto Zobel de Ayala II, P40.78 million.

The BIR earlier explained that the list of top taxpayers was based on regular income taxes paid resulting from transactions and not static assets.

This means a tycoon who has much bigger assets could possibly trail behind someone in terms of income taxes paid.

The list of top individual taxpayers excluded those whose taxes were withheld and paid on their behalf by companies that employ them.

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