DUAL-listed fruit canner Del Monte Pacific Ltd. (DMPL) denied reports alleging irregularities in respect of taxes assessed on, and collected from, its subsidiary Del Monte Philippines, Inc. (DMPI). “For 93 years that it has been operating in the Philippines, DMPI has been a loyal corporate citizen and has been diligently paying its taxes,” DMPL said. DMPI said it paid P236 million in 2011 for an audited taxable income of P678.3 million; P408.9 million in 2012 for a taxable income of P1.56 billion; and P534.9 million in 2013 for a taxable income of P1.83 billion. “On the other hand, the amount of income taxes paid by the company is shown to be correct and reasonable on the basis of its audited taxable income,” DMPL said. “Del Monte Philippines trusts that this announcement has shed light on the matter and stands ready to fully cooperate in any government inquiry,” it added.

Source: Manila Times July 09, 2017 13:18 UTC