Thursday, 23 November 2017
National News

BIR files tax evasion case vs. Mighty Corp

The Bureau of Internal Revenue (BIR) filed tax evasion case against cigarette manufacturer Mighty Corp. for using fake tax stamps worth P9.5 billion for them to be exempted by the government tax payments.

Based on the Non-government Action for Economic Reforms, Mighty’s tax liabilities at about P15 billion, regarding on the volume of cigarettes packs that bore fake stamps confiscated by the B.O.C and B.I.R particularly in the areas of Zamboanga City, Pampanga, General Santos City, Cebu City and Tacloban City late last month and early this month.

According to Albay Rep. Joey Salceda, the corporation’s basic arrears could reach up to P25 billion, excluding interest and penalties for non-payment of excise taxes.

However, collections from tobacco products declined to P91.6 billion in 2016 from 2015’s P99.5 billion worth. This was despite higher rates implemented last year than in 2015 under Republic Act No. 10351 or the Sin Tax reform law.

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