A homegrown biscuit manufacturer has “knocked out” Manny Pacquiao to steal the championship belt as the top taxpayer in the Philippines, according to the Bureau of Internal Revenue (BIR).
Based on the list of the Philippines’ top taxpayers released by the BIR, Jacinto Ng, owner of Republic Biscuit Corp, paid the most taxes in 2014 at Php280.1 million, taking the crown from Pacquiao, who paid a total of Php210.3 million in regular income taxes.
Pacquiao ranked first in the list of top individual taxpayers in 2013 when he paid Php163.8 million.
Ng, who is 36th on Forbes’ Philippines 50 Richest list with a net worth of $275 million, also owns a stake in the Asia United Bank and in the Oakwood chain of hotels.
Third in the list was Mercury Drug president Vivian Que-Azcona, who paid Php153.6 million taxes while Palawan Governor Jose Chavez paid the fourth highest amoung of taxes last year with Php73 million.
TV host and actress Kris Aquino, sister of Philippine President Benigno Aquino III, paid the sixth highest amount worth Php54.5 million. – BusinessNewsAsia.com