Funny the way presidential sister and Queen of All Philippine Media Kris Aquino comes into the fore whenever Filipino pep for the “right” people needs to be pump primed. Most recently the buzz is her emerging as “top Filipino taxpayer” paying a whopping (by Philippine standards) 49.87 million pesos (USD1.2 million) to the Philippine government.
Something is definitely amiss. It could be one or both of two things. Either (1) Kris’s income utterly dwarfs the richest Filipino taipans (many of whom made Forbes Magazine’s global rich list) or (2) said taipans are not paying the right amount of tax.
Which one is it? Or is it both?
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One thing’s for sure. Kris Aquino is not counted among Forbes‘s elite wealthiest Pinoys. But then Forbes reports that “[a] common trait among the rich listers, in part due to the stock market’s size, is their tendency to keep their fortunes private. Another is the fact that almost all the wealth assigned to an individual is actually shared by families, sometimes large extended ones.” Fair enough. Being rich is also about being clever when it comes to concealing one’s wealth and avoiding tax. The Philippines’ generous bank secrecy laws and cheap tax “consultants” makes this conducive to its tycoons. Indeed, an anonymous source is cited in an Inquirer.net report as revealing that “the countryâ€™s ranks of billionaires also employ an army of tax lawyers and auditors to minimize their tax liabilities.”
Just the same, social media “practitioners” being what they are have all but latched on to the buzz and effectively sensationalised the why-is-Henry-Sy-not-the-top-taxpayer memetic non-sequitur in their be-all-end-all quest to amass more “followers” and more “likes”. Kim Henares, head of the Philippines’s Bureau of Internal Revenue came forward to “clarify” the matter further…
“Kris Aquino has always been in the top 50 (taxpayers). She can command huge amounts. It’s not like a businessman where there is a range in earnings. While you are famous, a celebrity’s income can really spike,” she said.
“It depends on how many (commercial) endorsements you have, how many TV shows you have,” Henares told AFP.
The list of top taxpayers posted on the bureau’s website put Kris Aquino far ahead of the prominent tycoons who have been listed elsewhere as the richest people in the Philippines.
Shopping mall tycoon Henry Sy, listed by Forbes in March 2013 as the richest man in the Philippines, was only the 15th largest taxpayer on the bureau’s list.
The list is based only on individual tax returns filed in 2011 which might not necessarily indicate who paid the most in taxes overall, said Henares.
She said that income from stock transactions and bank deposits were taxed differently while companies owned by the tycoons paid corporate taxes.
Nonetheless, this makes it easy for Kris to add another crown to her head — this time making her Queen of All Pinoy Taxpayers. This will do a lot to further endear her to the Filipino masses whose minds have been so effectively conditioned by more than half a century of media content that demonises wealth and lionises poverty.
In Filipino movies, rich people are rich because they (1) are crooked, (2) inherited their wealth or are descendants of colonial carpetbaggers, and/or (3) are politicians. These characters, back-dropped against manicured gardens, tacky birthday-cake-like mansions, and big SUVs, still exhibit underclass traits: engaging in shouting matches and slapping duels, throwing money around. If not, they are portrayed in that clichÃ© Spanish-era haciendero image: nose-up postures, frequent head-to-toe glances, velvet or silk robes, etc.
Does reel life imitate real life? Perhaps in the Philippines it still does, which is why Kris Aquino will always remain relevant — and perhaps, someday, fulfill her destiny in the much-anticipated Third Aquino Presidency. Coming soon to a theatre near you.
benign0 is the Webmaster of GetRealPhilippines.com.
11 Replies to “Kris Aquino pays top tax dollar in the spirit of Daang Matuwid!”
If KSP is the root of all evil, what does that make Kris?
What’s also scary is since she is glorified by the Yellow Media as successful and who knows what else. She is a role model. So what is implied is that in order to get results like her, people should behave like her. Be afraid, be very afraid.
Congrats to kris aquino – james yap deserves every peso he can get.
Brand marketing combined with a personality driven political culture ensures the future cash flow is safe for another generation.
Kris aquino should be very grateful to james yap that he did his job and provided brand continuity, and that it was not dependent on josh.
Like me, Kris can’t make hocus pocus on her individual income tax because all her salaries for 2011 as high-end artist were correspondingly tax deducted, and all her talent fees as the top choice product endorser have been tax deducted as prescribed by law. These are in the form of tax credits. All she has to do is collate all these tax credits through the assistance of a tax-filer and fill them in the BIR as a matter of procedure since her compensation bracket requires it so.
So there’s really no “daan matuwid” here. Henares makes the noise.
Many of the millionaires or billionaires are not included here because they normally file through company representatives as corporate tax payers after all the necessary deductions have been done. And this requires time to collate all.
Henares must equally publish also those corporate tax payers.
For all we know, they have paid the proper taxes.
BIR and little napoleon kim henares are considering a tax levy according to penis size.
Jamacians will be leaving the country.
Chinoys are looking forward to a tax refund
P-noy is going to claim unemployment benefit.
Pinky lacson is going to self-certify.
Kris aquino wants to become a tax accountant.
Bongbong marcos is going to dress in drag and avoid paying.
Good one 😀
Here’s how the United States IRS does it:
10-12” Luxury Tax $30.00
8-10” Privilege Tax $15.00
5-8” Nuisance Tax $3.00
Males exceeding 12” must file under Capital Gains.
Anyone under 4” is eligible for a refund.
PLEASE DO NOT ASK FOR AN EXTENSION!!
Taxpayers are still waiting for answers to the following questions:
* Are there penalties for early withdrawals?
* What if one’s penis is self-employed?
* Do multiple partners count as a corporation?
* Are condoms a deductible expense as work clothes?
* Is there an additional tax if you are not circumcised?
So that’s how they intend to circumcise I mean circumvent the BIR.
e ano ngayon.
obligasyon niyang magbayad kaya dapat lang, magiging kasiraan yan ni kuya kapag nasilip at magpalusot siya..
nagbayad siya ng malaki,dapat lang..
masyadong generous sa kanilang ang bayang ito kaya nararapat lang nilang ibalik ang share sa mga taong nauto este tumangkilik sa kanya..
kahit papaano me pakinabang sa kaeklatan niya heheeh
krus aquino wants stem cell therapy for cabbage patch doll josh.
they both need brain implants – discount rate.
we need someone like James Yap to step-up to her, keep her busy in bed and out of politics