MANILA - A Chinese-Filipino tycoon with businesses in snack food, and banking is the country's top individual taxpayer in 2014, according to a list released by the Bureau of Internal Revenue (BIR).
BIR said Jacinto Ng, the owner of Republic Biscuit Corp. (Rebisco) and Asia United Bank Corp. (AUB), paid more than P280 million in regular income taxes in 2014, overtaking boxing icon and Sarangani Rep. Manny Pacquiao as the top taxpayer in the country.
Ng is the country's 36th richest man with a net worth of $275 million, according to Forbes Magazine.
Pacquiao, who was the biggest taxpayer in 2013, now ranked second with P210 million in income taxes paid in 2014.
Climbing back up the rankings is Mercury Drug president Vivian Que-Azcona, who placed third with taxes paid amounting to P153 million. She was the top individual taxpayer in 2012 before dropping to 8th in 2013.
Fourth in the list is Palawan Governor Jose Chavez Alvarez with taxes paid amounting to P73 million in 2014.
Another member of the Ng family, Jacinto Co Ng Jr., is fifth with taxes paid amounting to P66.9 million. Ng Jr. is the owner of Oakwood Premier Joy-Nostalg Center Manila.
TV host and actress Kris Aquino, the younger sister of President Benigno Aquino, is the sixth biggest taxpayer in the Philippines with P54.5 million paid taxes. The younger Aquino was the top taxpayer in 2011.
Rounding out the top 10 taxpayers in 2014 are developer Ronaldo Soliman (P53 million); Coca-Cola Bottlers Philippines president William Schultz (P51 million); San Miguel Corp. president Ramon Ang (P51 million) and Lauro Baja III of UBS Philippines (P50.7 million).
The country's richest man, Henry Sy, Sr., was ranked 53rd in the list, with P25.7 million in taxes paid in 2014.
The BIR's list of top 500 individual taxpayers for 2014 was based on regular income tax payments made as of November 10, 2015.