PPA remits P94.1 B for 2018

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The Philippine Ports Authority (PPA) continues its strong fiscal performance as its remittance reached a record high of P9.41-B in terms of dividends and taxes in 2018.

Out of P9.41-B, the agency remitted P3.51-B in dividends and paid P5.9-b for taxes, which is more than half higher than the total taxes it paid in the last 10 years.

It has also recorded the highest dividends in history for 2018, overshadowing the 2017 remittance amounting to P3.1-b.

PPA is mandated to remit at least 50% of its annual net income to the national government after it was granted fiscal autonomy during the term of former President Corazon C. Aquino.

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