4 Lopez firms among 2019 top taxpayers

Four companies under First Philippine Holdings Corp. of the Lopez Group made it to the Finance Department’s initial list of top 100 taxpayers in 2019.

Included in the list are First Gas Power Corp. which ranked 20th among the top taxpayers last year; FGP Corp. at 38th spot; Energy Development Corp., 96th; and Green Core Geothermal Inc., 98th.

First Philippine Holdings serves as the publicly-listed holding company for the power, industrial and real estate assets of the Lopez Group of Companies.

As a group, First Philippine Holdings and subsidiaries paid to the government a total of P5.18 billion in income taxes in 2019. All four FPH companies in the list are subsidiaries of First Gen Corp. which in turn is the holding company for energy- and power-related businesses of FPH.