BUSINESSMAN John Gokongwe

BUSINESSMAN John Gokongwei Jr. And his son, Lance, have been most of the Philippines’ 500 top earnings taxpayers for taxable year 2014, consistent with a listing released through the Bureau of Internal Revenue (BIR) through its website. The father landed at No. 159 and Lance at No. 218.

The BIR attributed an income tax payment of P14,302,132 to John, the daddy, and P11,823,378 to Lance. Like its different reports in previous years, it ignored a sixth column in its table, which must have informed the general public the premise of BIR’s tax price computations.

To offer the readers of The Manila Times how BIR arrived at the tax payments of the 2 Gokongweis, Due Diligencer did some computations based on BIR’s components. The effects showed the older Gokongwei’s taxable income at P44,803,537. Lance’s taxable income, then again, amounted to P37,057,431.

Due Diligencer’s computations are simplest tentative and meant to illustrate to our readers how the BIR ought to have pop out with the desk of pinnacle earnings tax payers and their respective payments. It is unlucky for the public to had been denied the privilege of understanding the wealth of the rich and famous.

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