MIAA records its ‘highest’ remittance to national coffers at P3.42B in 2018
Credit to Author: BENJIE VERGARA, TMT| Date: Tue, 21 May 2019 04:57:05 +0000
THE Manila International Airport Authority (MIAA) has remitted P3.42 billion in dividends to the national government following its “record-breaking” fiscal performance in 2018, the MIAA said on Tuesday.
“Last year’s dividend payment to the national coffers was the highest in MIAA history, exceeding by more than fifty percent the 2017 remittance which was then the highest recorded dividend payment in the last two decades,” MIAA said in a statement.
According to law, government-owned-and-controlled corporations (GOCCs), the MIAA among them, are required to “declare and remit at least 50 percent of their annual net earnings to the National Government every year” after it was granted fiscal autonomy during the term of former president Corazon C. Aquino.
Since President Rodrigo Duterte took office in 2016, the MIAA dividend payments have significantly increased, the MIAA said.
On top of the P3.42 billion in dividends, the airport authority also remitted P5.4 billion in corporate income taxes and national government share in its gross revenues for 2018.
Transportation Secretary Arthur Tugade commended the MIAA for its stellar fiscal performance.
“I am elated that the MIAA has once again exceeded its last fiscal performance. My congratulations to the leadership and ranks of MIAA for your sterling numbers. The Filipino people stand to benefit from your good work,” Tugade said.
MIAA General Manager Ed Monreal, urged the men and women serving the country’s premier gateway to continue striving to further improve fiscal management and allocation of resources to ensure effective and efficient delivery of airport services.
“The MIAA remains committed in bettering its fiscal management, as we also work on improving the infrastructure and operations of NAIA. Ultimately, our fiscal performance should resonate in our efforts in making each airport passenger satisfied beyond expectations,” Monreal said.
NAIA is the Ninoy Aquino International Airport.
The MIAA hopes that with its strong fiscal showing in 2018, it will land a spot again in the “Billionaire’s Club,” an elite circle of GOCCs contributing billions of pesos in dividends to the national government.
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