Power distributor Manila Electric Company emerged as the top corporate taxpayer in 2014, the Bureau of Internal Revenue said Thursday.
Latest data from the BIR showed Meralco paid P9.686 billion in 2014, the same amount it paid in 2013 and 2012. Meralco was the also top taxpayer in 2012.
Meralco unseated from the top spot Smart Communications. Inc which paid P9.454 billion in 2014, an 11-percent decrease from the P10.89 billion it paid in 2013.
Nestle Philippines Inc. moved one spot higher to rank third with tax payment of P5.344 billion in 2014, higher than P4.81 billion in 2013.
Shell Philippines ranked fourth as it paid P5.279 billion in 2014 while Chevron Malampaya Llc retained its fifth spot ranking with P5.246 billion.
The sixth and seventh spots were occupied by San Miguel Brewery Inc and Globe Telecom Inc., which paid P4.877 billion and P4.739 billion, respectively. Also in the top 10 list were Unilever Philippines with P3.145 billion, SM Prime Holdings with P3.129 billion and BDO Unibank with P3.114 billion.