PartnersGlobe, Innove Sustain Increase in Tax Payments in 2019
Jun 05, 2020 | 02:59 PM
Globe and Innove Communications Inc.’s tax payments continue to rise for the fifth consecutive year. For fiscal year 2019, Globe paid over P20.7 billion in taxes—P3 billion or 20 percent higher than the previous year’s remittance. The company has remitted to the government close to P80 billion in taxes over the last five years. “We regard the company’s increasing tax payment as a testament to our efficient operations even as we give our customers better service. This will further help the government in its efforts to manage the impact of COVID-19 on our economy and the people hardest hit by the pandemic,” said Rizza Maniego-Eala, Globe CFO and Chief Risk Officer. Innove, on the other hand, settled at least P4.8 billion in taxes for 2019, a nine percent increase compared to its payment in 2018 Globe and Innove were recently cited by the Department of Finance (DOF) as among the big companies in the top 500 corporate taxpayers that filed their income tax returns (ITR) ahead of the extended deadline. They were among the top 11 companies that complied early with their tax obligations even when the deadlines were extended twice. Also included in the DOF Top 500 list are the Bank of the Philippine Islands (BPI), Manila Water Company, Inc., and BPI Capital Corp., which are part of the Ayala Group of Companies.