Sunday 23 September
Powered by Ajaxy
Nov 19, 2017 @ 15:55

Mighty tax payments triple after JTI buyout


They’re not cheating sin taxes anymore.

Tax collections from Mighty Corporation soared to P6.2 billion from September-October, following the acquisition of Japan Tobacco Inc. (JTI). This comes from a measly P2.071 billion collected from Mighty during the same period in 2016.

JTI bought Mighty for P46.8 billion with P25 billion used to pay a tax settlement to the Philippine government after the Department of Finance caught the Bulacan-based cigarette manufacturer cheating by way of fake tax stamps.

Dominguez now expects monthly taxes from Mighty at P3.1 billion, eadily a third of the total cigarette tax collections.

Tags: , , , , , , , , , ,

Related Stories
When Swedish clothing giant H&M opened its first store in Ukraine earlier this month, thousands
The Department of Transportation expects to finally start work on the long-delayed common station project
Uber claimed Monday to have mended its ways as the ride-hailing app started its appeal


Trending News

Recommended on sister sites

Copyright © 2018 Bilyonaryo - Latest news on the richest Filipinos and Family Business.