Are gas companies paying the right taxes?


Posted at Apr 11 2014 01:52 PM | Updated as of Apr 11 2014 09:52 PM

MANILA, Philippines – The Bureau of Internal Revenue (BIR) said petroleum and gasoline importers and steel importers are among the industries under-represented in its list of top 500 non-individual taxpayers for 2012.

In its latest Tax Watch ad, the BIR said only 7 of the 32 petroleum and gasoline importers are in the list of top taxpayers.

These 7 corporations are Pilipinas Shell Petroleum Corp. (P543 million); Chevron Philippines Inc. (P341 million); Petron Corp. (P299 million); Seaoil Philippines Inc. (P129 million); Unioil Petroleum Philippines Inc. (P107 million); Isla LPG Corp. (P75 million); and Petronas Energy Philippines (P44 million).

The country’s "Big 3" oil and gas firms ranked high in BIR’s top 500 list, with Shell leading in 59th place.

Chevron was the second highest taxpayer among gas firms at the 86th spot.

Petron, meanwhile, took the 99th spot.

For steel importers, only 19 out of 319 corporations are in the BIR’s top taxpayers list, led by Shell Philippines Exploration BV (P5.9 billion); Holcim Philippines Inc. (P1.6 billion); and Quezon Power Philippine Limited (P1.4 billion).

Also making the top taxpayers' list among steel importers are Philex Mining Corp., International Container Terminal Services Inc., Mitsubishi Motors Philippines, Concepcion-Carrier Air Conditioning and Petron Corporation.

The BIR asks, “Where are the other corporations from these industries?”

The tax agency said there are 32 oil and gas importers in the Philippines based on the list of active registered importers with the Oil Industry Management Bureau of the Department of Energy.