PTT named top taxpayer in Subic Freeport
February 05, 2018
PTT Philippines, a subsidiary of Thailand’s largest oil and gas company PTT Public Company Limited, is the top taxpayer for 2017 among the locators at the Subic Bay Freeport Zone (SBFZ) with its tax payment reaching more than Php1.8-billion.
The Department of Finance, through the Bureau of Customs (BOC) in the Port of Subic, cited PTT Philippines and nine other top taxpayers in the SBFZ for their support and assistance to the Bureau of Customs in promoting revenue collection excellence.
PTT Philippines contributed a total of Php1,826,242,900 in the revenue collection in Port of Subic, placing the Thai oil firm in the top spot in the list of taxpayers in the freeport zone for 2017.
“PTT’s contribution has resulted to an impressive collection performance of the Port of Subic,” Customs District Collector Fidel Benigno Villanueva IV said during the recent awarding of the top 10 taxpaying companies at SBFZ.
PTT Philippines, strongly supporting the government campaign to curb smuggling, has been a perennial top taxpayer in Subic for its oil business in the country. It is also one of the first locators in Subic to fully comply with the first marking program that was initially launched in Subic freeport.
“We’ve been consistently landing on the list of top taxpayers not only because of the good business environment in the Philippines but also we value good governance and our sense of responsibility in areas where we do our business,” PTT Philippines President & Chief Executive Officer Sukanya Seriyothin said.
PTT has been operating in the Philippines for more than two decades with 122 gasoline stations to date operating and continuously growing in various parts of Luzon and Central Visayas. The Thai company also diversified into non-oil business through the popular Thai brand coffee shop – the Café Amazon that PTT also brought to the country in last quarter of 2016.
PTT’s jet fuel partner Cebu Air Inc. landed in the second spot of the top 10 list.