Villar overtakes Kris as top taxpayer

MANILA, Philippines - Sen. Manny Villar, the lone billionaire in the Senate, may have overtaken actress and TV host Kris Aquino, as the country’s top individual taxpayer.

Villar, who will finish his term next month, has paid about P72.2 million in individual taxes last year.

Kris, President Aquino’s youngest sister, earlier paid the government P49.87 million in income tax for her 2011 earnings, making her the top individual taxpayer in the Philippines.

A scrutiny of his annual income tax return (ITR) form 1701 showed that Villar has paid a total of P72,297,028  in 2012, composed of his individual tax payment as senator and tax on sales/exchange of shares of stocks of Vista Land and Starmalls and acquisition of real property for the year.

Villar’s ITR, a copy of which was obtained by The STAR, showed that a large portion of his tax payments or a total of 72,246,418 came from his shares at the family-owned real estate empire and the Starmalls businesses. 

Meanwhile, another P50,610 was also paid for a land acquisition.