BDO Unibank Inc. (BDO) on Monday emerged at the top of the corporate taxpayers list, with more tax paid the government than any other lender, the Department of Finance (DoF) said.
“Heading the top 10 list of corporate taxpayers are BDO, Robinsons Land Corp., Manila Electric Co., the Bank of the Philippine Islands, Unilab Inc., Mercury Drug Corp., Maynilad Water Services Inc., Metrobank Card Corp., Globe Telecom Inc. and Innove Communication Inc.,” the DoF said.
“Next on the list of top taxpayers are the Philippine Ports Authority, Manila International Airport Authority, Citra Metro Manila Tollways Corp., Taganito Mining Corp., Security Bank Corp., Monde Nissin Corp., Eagle Cement Corp., Huawei Technologies Phil. Inc., Phil Gold Processing & Refining Corp and First Gas Power Corp.,” it added.
Finance Secretary Carlos Dominguez III said the various corporate taxpayers heeded the call to file their respective ITR ahead of the deferred payment schedules.
“We hope that the commendable act of these taxpayers would inspire other taxpayers to do the same and contribute to nation-building as we work together to get the economy back on its feet in the face of the COVID-19 pandemic,” Dominguez said.
According to him, the taxpayers deserve recognition as they provided much-needed funds for government to finance the various programs to contain the health threat.
The DoF said the taxpayers who settled their ITR within the original deadline prior to its extension may amend their tax returns before the final extended due date.
“In case these taxpayers need to pay additional tax, they can do so without having to pay penalties, provided such payments are made not later than the final extended deadlines fixed by the Bureau of Internal Revenue,” the agency said.
“On the other hand, if the amended returns will result to overpayment of taxes paid, the taxpayers can opt to carry the overpaid taxes as credit against their tax due for the same tax type in the succeeding periods or file claims for a refund,” it added.
The BIR extended the tax payment deadline three times in April and May when the enhanced community quarantine was declared over Metro Manila and Luzon.