The Philippine Ports Authority (PPA) yesterday said it has raised to P3.8 billion its total dividend remittance for 2020 to help in government efforts in addressing the coronavirus disease 2019 (COVID-19) pandemic.
PPA said it has remitted an additional P221 million to the National Treasury to increase its total dividend remittance last year, representing 58 percent of the agency’s net income for 2020.
This after a re-computation in its corporate income tax revealed a surplus payment, thus increasing its 2020 net income to P6.55 billion from the earlier reported P6.32 billion Since 2016, PPA has been one of the top-performing attached agencies of DOTr and to date, has remitted a total of P17.391 billion dividends to help in the implementation of various government social and health programs.
PPA said it also posted a total of P14.87 billion in income tax to the Bureau of Internal Revenue since 2016, where the biggest tax paid was recorded in 2018 at P5.90 billion. – Myla Iglesias
