Yesterday, October 14, 2013, the Bureau of Internal Revenue (BIR) released the list of top 500 individual taxpayers. The list was topped Vivian Que-Azcona who is said to be the owner of Mercury Drug drugstore chain replacing Kris Aquino who topped the said list in 2011.
Knowing More of the Top Ten
Topping the Bureau of Internal Revenue (BIR) list of top taxpayers of 2012 is Vivian Que-Azcona, owner of the country’s biggest drugstore chain Mercury Drug. Que-Azcona, who is the 19th richest in the country according to Forbes magazine, paid P131.4 million in income taxes in 2012. Forbes estimates her net worth at $840 million.
She unseated Kris Aquino, who topped the BIR’s list of top taxpayers in 2011. Aquino, the youngest sister of President Aquino and a popular television personality, ranked sixth (P44.9 million) in the BIR’s 2012 list of top taxpayers.
Controversial TV host Willie Revillame paid the second highest individual income taxes in the country in 2012, with P63.9 million.
Third on the list was top corporate lawyer and San Miguel Corp. director Estelito P. Mendoza (P53.59 million) and fourth was Insular Life Chairman Vicente Rafael M. Ayllon (P52.3 million).
A certain Gerardo Sebastian Baes (P47.9 million) was the fifthlargest taxpayer. Ranked seventh was a certain Ronaldo R. Soliman, who paid P43.3 million.
Celebrities John Lloyd Cruz (P42.79 million) and Sharon Cuneta-Pangilian (P42.02 million) ranked 8th and 9th respectively.
On 10th place was businessman Fernando Zobel de Ayala with (P40.8 million). His older brother Jaime Augusto Zobel de Ayala ranked 11th with P40.77 million in taxes.
Who are the Top 50?
|RANK||TIN||TAXPAYER NAME||REGULAR INCOME TAXES PAID|
|1||134757767-000||AZCONA VIVIAN QUE||131,434,036.34|
|2||118285820-000||REVILLAME WILFREDO BUENDIA||63,901,751.38|
|3||106190582-000||MENDOZA ESTELITO P||56,594,822.00|
|4||123034938-000||AYLLON VICENTE RAFAEL MUNOZ||52,307,151.79|
|5||902938421-000||BAES GERARDO SEBASTIAN||47,900,143.00|
|6||101717443-000||AQUINO KRISTINA BERNADETTE COJUANGCO||44,933,335.05|
|7||103930126-000||SOLIMAN RONALDO ROMERO||43,304,744.29|
|8||904905084-000||CRUZ JOHN LLOYD ESPIDOL||42,791,354.17|
|9||206489540-000||PANGILINAN SHARON CUNETA||42,025,524.05|
|10||104104067-000||ZOBEL DE AYALA FERNANDO MIRANDA||40,846,038.15|
|11||104145637-000||ZOBEL DE AYALA JAIME AUGUSTO II MIRANDA||40,777,882.37|
|12||125960003-000||TAN ANDREW LIM||39,605,000.00|
|13||205575633-000||NELSON CHRISTOPHER T||39,209,327.39|
|14||247544114-000||TRAN TUAN PHUOC||38,407,634.34|
|15||102210047-000||ANGELES VICTOR MANGUERA||38,309,545.38|
|16||106905603-000||ORTIZ JUSTO ABOITIZ||33,675,230.78|
|17||102829530-000||LOPEZ OSCAR MORENO||33,473,846.21|
|18||900036442-000||TAN LORENZO VILLANUEVA||33,161,541.53|
|19||108727097-000||AQUINO ANTONINO T||32,939,539.88|
|20||135558086-000||MONTINOLA III AURELIO REYES||30,053,432.31|
|21||104113818-000||LHUILLIER PHILIPPE JONES||29,565,000.00|
|22||106906639-000||VALDEPENAS VICTOR BUNUAN||28,095,895.62|
|23||146555136-000||CASAS CARMELOP TOPACIO||27,558,792.55|
|24||243675682-000||NGUYEN VINCENT THONG||26,681,133.20|
|25||102829522-000||LOPEZ FEDERICO RUFINO||26,678,793.31|
|26||232707824-000||BAJA LAURO III CASTRO||26,273,234.56|
|27||107169884-000||ABLAZA GERARDO JR CINCO||26,111,072.69|
|28||104006074-000||LAO VICENTE TAN||25,076,234.69|
|29||253047380-000||CABALUNA PATRICIA B||25,027,614.94|
|30||914481801-000||PANGILINAN MANUEL VELEZ||24,671,703.10|
|31||103715862-000||ABOITIZ ERRAMON ISIDRO MENDIETA||24,310,365.49|
|32||200783355-000||AGONCILLO JUDY ANNE SANTOS||24,086,982.57|
|33||126715389-000||LHUILLIER JEAN HENRI DIAGO||23,831,656.00|
|34||153950198-000||PASCUAL PIOLO JOSE NONATO||23,356,976.00|
|35||294346776-000||CORDOVA RODRIGO CAL||22,458,999.28|
|36||915676235-000||PACQUIAO EMMANUEL DAPIDRAN||22,381,304.91|
|38||126818103-000||UNGSON RAFAEL EDMUN ANDRADE||21,921,278.58|
|39||106968932-000||CRUZ ENRICO SALONGA||21,861,413.60|
|41||106174605-000||GOZON FELIPE LAPUS||20,905,147.92|
|42||910435875-000||PUNO FRANCIS GILES BLANCO||20,817,833.18|
|43||102871235-000||LOPEZ III EUGENIO LAO||20,758,950.80|
|44||222762676-000||RANOLLO PHYLBERT ANGELIE ESCALANTE||20,746,366.45|
|45||147752164-000||MACALE MICHAEL ANGELO BADURIA||20,617,256.00|
|46||233145368-000||GAULT JOSEPH MITCHELL||20,364,846.24|
|47||108975971-000||CO LUCIO LAO||19,763,899.00|
|48||116222836-000||CU ERNEST LAWRENCE LIM||19,549,777.00|
|49||110863960-000||BATE CONRADO FABELLA||19,318,551.57|
|50||222881683-000||CURTIS-SMITH ANNE OJALES||19,166,758.64|
Completing the List of Top 500
Personally, I am a bit surprised that some of the owners of the top 10 corporations were not included in the list. You might also think the same. Well, these individuals might be managing there taxes by limiting the distribution of their respective companies’ distributable profits. This is a legal way of managing taxes provided that their companies are only retaining surplus profits within the limits prescribed by the law. Otherwise, they may be assessed of improperly accumulated earnings tax which may compel them to just distribute those retained earnings.
The 2011 Top 10 Individual Taxpayers
In 2011, Top 10 among the top 500 in the list of the individual taxpayers are:
- AQUINO KRISTINA BERNADETTE COJUANGCO
- REICHOW GREGORY DEANE
- BAJA JR LAURO LIBOON
- PANGILINAN MANUEL VELEZ
- MONTINOLA III AURELIO REYES
- ABLAZA GERARDO JR CINCO
- LHUILLIER PHILIPPE JONES
- ANGELES VICTOR MANGUERRA
- PANLILIO ROBERTO LAZATIN
- GOZON FELIPE LAPUS
To read more about BIR Top 500 Individual and Non-individual Taxpayers for 2011, Click Here.
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