Several months ago, Filipino-owned tobacco manufacturer in the country, Mighty Corp was dragged in the controversies about the malicious issue that the rival company, PMFTC digging on them.
Bureau of Internal Revenue Commissioner Kim Henares issued her findings favoring the Bulacan-based company over Philip Morris-Fortune Tobacco Corp.
She ruled out the alleged cigarette smuggling activities being attributed by PMFTC against Mighty, in which there are no valuable evidence against the company.
With the competition in the tobacco industry, she added that the two companies were aggressive in seizing market shares.
Mighty Corp denied the allegations regarding illegal business practice and the excise tax issue. The company lower its operational cost as it does not pay royalty to foreign headquarters and has no foreign consultants.
Meanwhile, they assured the public that they are open to government’s plan to examine its books along with its competitors to ensure proper compliance of all tobacco industry players with the new Sin Tax Law.
Bureau of Internal Revenue Commissioner Kim Henares issued her findings favoring the Bulacan-based company over Philip Morris-Fortune Tobacco Corp.
She ruled out the alleged cigarette smuggling activities being attributed by PMFTC against Mighty, in which there are no valuable evidence against the company.
With the competition in the tobacco industry, she added that the two companies were aggressive in seizing market shares.
Mighty Corp denied the allegations regarding illegal business practice and the excise tax issue. The company lower its operational cost as it does not pay royalty to foreign headquarters and has no foreign consultants.
Meanwhile, they assured the public that they are open to government’s plan to examine its books along with its competitors to ensure proper compliance of all tobacco industry players with the new Sin Tax Law.