First Philippine Holdings Corporation earned P24.6 billion in 2019 but paid only P10 million in income taxes.
It said that FPH Corporation, which is owned by the Lopez family, received a P24.6 billion net income in 2019 but paid P10 million only in corporate income taxes. According to CrowdTangle, this post has received 5,061 interactions on Facebook, consisting of 3,646 reactions, 350 comments, and 1,065 shares. CrowdTangle says it was shared as early as Tuesday, May 19.Comparing FPH Corporation and its subsidiaries' net income with the income tax of only FPH Corporation as a holding company is misleading.annual report
FPH, as a parent company, earned by itself a net income of P12.851 billion in 2019. This was after they paid an income tax of P10 million, which was deducted from their income of P12.861 billion.
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