Which car company is a top PH taxpayer?

MANILA, Philippines – The Bureau of Internal Revenue (BIR) has released a list of top car manufacturers, importers and distributors and the corresponding 2012 income tax dues of these companies to determine if they have been paying the right taxes.

In its latest Tax Watch ad, BIR revealed that Toyota Motor Philippines Corp. and its luxury vehicle arm Lexus Manila Inc. sold the most units and at same time paid the most taxes in 2012.

Toyota and Lexus sold 65,396 units and paid a total of P1.37 billion in income taxes.

Mitsubishi Motors Philippines Corp., which sold 34,915 units, is the second top taxpayer among car brands with P455.29 million taxes paid in 2012.

Hyundai Asia Resources Inc. sold the third most units at 21,996 and paid P234.61 million in taxes.

Honda Cars Philippines came in fourth in units sold, but only paid P25.115 million in taxes. Honda was the only car company listed in the top 5 in sales but failed to make it in the top 5 in taxes paid.

Isuzu Philippines Corp. paid more taxes than Honda at P100.31 million despite selling fewer units at 11,759.

The BIR said the list of top brands based on sales was posted on the website of Top Gear Philippines.

Source: http://www.abs-cbnnews.com/business/11/27/13/which-car-company-top-ph-taxpayer