Mercury Drug owner tops 2012 taxpayers
Manila, Philippines – Vivian Que-Azcona, owner of the country’s largest drugstore chain Mercury Drug, was named as top individual taxpayer for 2012, followed by showbiz personality Willie Revillame and top corporate lawyer Estelito P. Mendoza.
Que-Azcona, who ranked 19th on Forbes’ “Philippines 50 Richest” list with her estimated $840 million net worth, paid a whopping P131.4 million in income taxes last year.
The Bureau of Internal Revenue (BIR) posted the top 500 individual taxpayers list on its official website.
The daughter of Mercury Drug founder Mariano Que, who started selling medicines in a pushcart before opening his first drugstore in 1945, Que-Azcona now manages her family’s business empire in 700 locations throughout the country.
She was followed by Revillame who paid P63.9 million in income taxes; Mendoza, who is also a San Miguel Corp. (SMC) director, P53.59 million; Insular Life Chairman Vicente Rafael M. Ayllon, P52.3 million; and a certain Gerardo Sebastian Baes, P47.9 million to make up the top 5 biggest tax contributors.
Coming at sixth is President Aquino’s youngest sister and television personality Kris Aquino who paid P44.9 million to the BIR.
Kris, who still has numerous product endorsements and one of ABS-CBN’s top billed celebrities, was BIR’s highest taxpayer in 2011 after she paid P49.87 million in income taxes that year.
Another less-known individual Ronaldo R. Soliman paid P43.3 million and was ranked seventh; while top celebrities John Lloyd Cruz paid P42.79 million and Sharon Cuneta-Pangilinan shelled out P42.02 million to rank eighth and ninth, respectively.
Prominent businessman Fernando Zobel de Ayala of the Ayala business conglomerate completed the Top 10 individual taxpayers for 2012 with a P40.85 million tax contribution.
None of the Top 10 individual taxpayers was included in Forbes’ latest Top 10 richest in the Philippines that was released in August this year.
Mall mogul Henry Sy Sr., Philippines’ richest man according to Forbes, paid P16.4 million in income taxes and was ranked at 74th on BIR’s list, while tobacco king Lucio Tan paid P12 million to the BIR, placing him at 138th.