Sy, Gokongwei, and MVP Businesses Lead Top 500 Taxpayers of 2019
BDO Unibank Inc., Robinsons Land Corp., and Meralco lead as the top three taxpaying businesses of 2019. Following the release of the country’s Top 500 Taxpayers (as of May 19), the Department of Finance lauded big businesses for filing income tax returns ahead of schedule, noting that these taxes will provide the government with the funds to sustain the economy and support the social amelioration program as the Philippines buckles under the economic impact of COVID-19.
So who are the biggest (and most punctual) taxpayers in the Philippines? See the full list here.
Three Ayala-led corporations were recognized in the top 10, namely BPI (4), Maynilad (7), and Globe (9). The Sy siblings’ BDO topped the list, followed by Gokongwei-led Robinsons Land in second place and Manny Pangilinan’s Meralco in third. Unilab and Mercury Drug landed in fifth and sixth place respectively, while the Ty family’s Metrobank placed eighth. The Philippine Ports Authority closed the top 10.
Other notable taxpayers on the list: Innove Communications, Manila International Airport Authority, Citra Metro Manila Tollways, Taganito Mining Corp., Security Bank, Monde Nissan, Eagle Cement, Huawei Philippines, and Cebu Air.
“We hope that the commendable act of these taxpayers would inspire other taxpayers to do the same and contribute to our nation-building as we work together to get the economy back on its feet in the face of the COVID-19 pandemic,” said Finance Secretary Carlos Dominguez III.