MANILA, Philippines - While much of the spotlight is on the businessmen, celebrities and executives on the Bureau of Internal Revenue's top taxpayers list, it is also curious to note who are those missing from the list.
In its latest Tax Watch ad, the BIR asked the question "Which industries are under-represented in the BIR 500"?
The BIR noted there are no fashion designers, dermatologists/ beauty consultants, car dealer executives, real estate brokers and fishing industry executives on the top taxpayer list.
On the other hand, there are only six pawnshop owners on the list and they're all from the Lhuillier family. Philippe J. Lhuillier, chaiman of PJ Lhuillier which owns Cebuana Lhuillier, paid P29.56 million in taxes in 2012, while company president and CEO Jean Henri D. Lhuillier paid P23.83 million in income taxes.
The BIR also pointed out out of the 135 brokerage firms in the country, there were only 11 executives from 5 brokerage firms that landed on its top taxpayer list.
UBS Philippines managing director Lauro Baja III paid P26.27 million in income taxes
Deutsche Regis Partners managing director Michael Macale paid P20.61 million in income taxes, while Rafael Garchitorena, also a managing director and strategist at Deutsche Regis Partners Inc., paid P12.33 million. Deutsche Regis' Giovanni Dela Rosa and Elena Lopez paid P12.24 million and P6.4 million respectively.
Several executives from COL Financial Group were top taxpayers: president and CEO Conrado Bate (P19.31 million); CFO Catherine Ong (P14.5 million); corporate secretary, SVP and head of legal Caesar A. Guerzon (P10.99 million); and vice president for sales Juan G. Barredo (P9.64 million).
ATR Kim Eng Securities' Godofredo Abdulah Aquino paid P6.88 million in income taxes, while Papa Securities executive vice president Homer Perez paid P6.47 million in income taxes.
Out of the 33 licensed life insurance companies, only 12 top taxpayer executives are from 8 companies, namely Insular Life, Philam Life, Sun Life, AXA Philippines, Manulife, BPI/ MS Insurance Corp., Pru Life UK and AIU Insurance Philippines.
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