Piolo Pascual

Boxing champion Manny Pacquiao remains the country’s top taxpayer in the Bureau of Internal Revenue’s (BIR) revised list of individual taxpayers for the year 2008.

However, ABS-CBN’s “Wowowee” host Willie Revillame and actor Piolo Pascual (Jose Nonato in real life) were dislodged from their top 5 ranking by business tycoons.

In the revised list, Revillame went down from number two to six, while Piolo slid from number three to 18th place.

They were replaced mostly by business tycoons and leaders of various industries.

BIR Commissioner Joel L Tan-Torres would not say the exact amount paid by these taxpayers as the Tax Code prohibits such disclosure.

He said, however, that these taxpayers paid an average of P28.8 million in income tax. Tan-Torres said Pacquiao paid in nine digits which can be translated to over P100 million.

The top taxpayers starting from the number two slot are Elaine Bautista Gardiola, Ronaldo Romero Soliman, Rainero Manapat Borja, Lauro Liboon Baja Jr., Francisco dela Fuente Guerra III, Kristina Aquino Yap, Patricia Miranda Zobel de Ayala, Manuel Bayan Zamora Jr., Eduardo Murphy Cojuangco Jr., Manuel Velez Pangilinan, Beatriz Susana Zobel de Ayala Urquijo, Gigi Chio Basco, Manuel Moreno Lopez, Christopher Salcedo Co, Justo Aboitiz Ortiz, Ramon See Ang, and Federico Rufino Lopez.

Meanwhile, the BIR reminded individual and corporate taxpayers that they have only until today to submit their 2009 income tax returns (ITRs).

Tan-Torres said that like in the past, the deadline will not be extended and penalties will be imposed for late filers.

The BIR chief said all authorized-agent-banks (AABs) have been requested to extended their banking hours up to 5 p.m. and assigned additional personnel to accept and process ITRs.

He asked the banks not to accept out-of-district ITRs, starting last Monday, meaning taxpayers should file their returns at the revenue district office which has jurisdiction over their place of business, or residence.

He said the old practice was discontinued due to various problems encountered by the bureau like mishandling and difficulty in tracing the whereabouts of such returns.

A 25-percent surcharge will be slapped for wrong venue filing of ITRs.

By JUN RAMIREZ
April 14, 2010, 4:42pm

MANILA, Philippines—The Bureau of Internal Revenue intends to publish the lists of top individual and institutional taxpayers to make “role models that other may emulate” and hopefully help shore up collections.

Revenue Commissioner Joel L. Tan-Torres said he had issued Revenue Memorandum Order No. 31-2010 to make this possible.

The RMO dated April 8 ordered revenue district officers to submit lists of 2009’s top 300 individual taxpayers and 150 corporate taxpayers in their respective areas.

The plan is for a list of 2,000 individuals to be ready by the middle of this year and 1,000 firms by yearend.

Tan-Torres said the basis of the lists will be payments of income tax, but he clarified that the amounts, addresses and other sensitive details about the taxpayers would not be published.

“In 2008, the top individual taxpayer was Manny Pacquiao and the top corporate taxpayer was Smart [Communications],” the BIR chief said.

While the BIR would not disclose figures, the magazines Forbes and Sports Illustrated estimated that Pacquiao earned $40 million between June 2008 and June 2009.

Data from Smart’s parent firm Philippine Long Distance Telephone Co. showed that the subsidiary posted gross revenue of P95.8 billion in 2009.

Other top individual taxpayers were television host Willie Revillame and matinee idol Piolo Pascual as well as a certain Elaine Gardiola and Ronaldo Soliman.

Other top companies were Chevron Malampaya, Globe Telecom, San Miguel Corp. and Manila Electric Co.

Last year, government earnings totaled P1.12 trillion, which was P115.9 billion lower than programmed.

Of the total, the BIR represented P750.3 billion, missing the target by P48.2 billion.

For 2010, the BIR is aiming at P830.44 billion or three-quarters of total government revenues set at P1.12 trillion.

By Ronnel Domingo
Philippine Daily Inquirer
First Posted 22:40:00 04/11/2010

source: http://business.inquirer.net/money/topstories/view/20100411-263697/BIR-to-publish-list-of-top-taxpayers

CHAMPION boxer Manny Pacquiao and television host Willie Revillame were the highest taxpayers in the country in 2008, according to the Bureau of Internal Revenue’s (BIR) list of top taxpayers for the year as the agency decided to publish the top taxpayers.

Third top taxpayer for 2008 was Jose Nonato Pascual, or more popularly known as Piolo Pascual, while Elaine Gadiola and Ronaldo Soliman came in at fourth and fifth, respectively.

For the corporate taxpayers, those who topped the list for 2008 were Smart Communications Inc., Chevron-Malampaya, Globe Telecom Inc., San Miguel Brewery and Manila Electric Co.

BIR Commissioner Joel Tan-Torres said that under the Tax Code the agency is allowed to publish the names of the top taxpayers so they can be role models of the public.

Tan-Torres, however, said that they do not intend to release the actual payments of these persons or entities for privacy concerns.

On Thursday, Tan-Torres signed Revenue Memorandum Order 38-2010, or the guidelines for the posting and publication of the list of taxpayers for 2009.

“The dissemination of the top taxpayers list is intended to recognize the contribution of taxpayers who have paid the highest income tax in taxable year 2009 and who can serve as role model for others to emulate and follow,” the order states.

In the coming months, the BIR’s revenue district office will publish the top 300 individual taxpayers and top 150 corporate taxpayers.

The BIR central office, on the other hand, will publish the country’s top 2,000 individual taxpayers and 1,000 corporate taxpayers.

The deadline for filing of income-tax returns for 2009 is on April 15 and only by then can the BIR determine the country’s top taxpayers.

The BIR, from where two-thirds of the national government revenues come, has promised to hit its higher collection targets of P830.5 billion this year, but has to create various initiatives in order to counter the various revenue-eroding measures that have been enacted during the previous years.

This year alone, the agency’s forgone revenues is expected to hit between P70 billion andP80 billion, after new tax-eroding measures, were enacted into law such as the Real Estate Investment Trust Act and the Personal Equity and Retirement Account law.

Written by VG Cabuag / Reporter
Friday, 09 April 2010 23:09

For the 2009 Timex Run with Piolo Pascual heading the field, I will be gunning for a personal best in my 21K just so I can be at the finish line early for a photo-op with him

ONCE AGAIN OUR whole nation is united. All of us are cheering our boxing hero, Manny Pacquiao, as he fights for victory and makes history today.

Just about the same time that the Pacman is warming up, I will also be warming up, but for the 2009 Timex Run at The Fort.

TV heartthrob Piolo Pascual heads up the field at the Timex Run and I will be gunning for a personal best in my 21K just so I can be at the finish line early for a photo-op with him. Lots of special prizes are at stake so this will be a fun run for everyone to join.

Timex has been a generous sponsor of so many athletic events. Just a few months ago, they were so visible at the Cobra 70.3 Ironman Philippines along with Audi, the car brand of choice after doing all that running.

Next week, Timex is also sponsoring Team Philippines at the Asian Underwater Hockey Championships in Singapore. Among the supportive sponsors for the team are Cebu Pacific, Fern C vitamins and of course, Speedo, their official swim gear. The team has won the gold for two years in a row and is hoping for a “three-peat.”

Speaking of sponsors, I’ll be checking out Pacquiao’s shorts, which now resembles a Formula 1 outfit, what with all the logos. Dennis and I are at the Araneta Coliseum this morning watching the live broadcast on 30-foot giant screens—truly Pacman will be larger than life!

There are so many exciting activities happening on that side of the shopping world. Even if I am a Makati girl, I don’t mind heading to the Gateway Mall in Araneta Center to enjoy a movie premiere at the Gateway Cineplex 10.

My last foray to Gateway was for the exclusive viewing of “Coco Avant Chanel,” with a chic cocktail party hosted by TV master Boy Abunda at the pre-screening event. The Mandarin Oriental Suites was filled with celebrities and guests all having cocktails before the movie.

By Tessa Prieto-Valdes of Philippine Daily Inquirer

DateFirst Posted 01:00:00 11/15/2009