Cigarette Maker Pays P8 B in Excise Tax

Local Cigarette and Tobacco, Filipino owned and controlled, manufacturer Mighty Corporation paid an excise tax of P8 billion for the year 2013, a huge leap from the P300 million tax in 2012.

Oscar Barrientos, Mighty Corporation EVP said the payment for last year should hush and finally silenced the false accusations that Mighty Corporation has not been paying its correct duties and taxes.

Cigarette Maker Pays P8 B in Excise Tax

“The tax we paid for the year 2013 reflects the jump in our market share and our fair share in the increased taxes on “sin” products during last year.” said Barrientos.

The retired judge also pointed out that despite charges in the news media and by some members of Congress against the company for non-payment of taxes, no case has been filed in court.

Barrientos also pointed out that the BIR and the Bureau of Customs have cleared his company of any tax deficiency until February of this year.

The company paid P300 million in 2012, the Mighty Corporation's Executive and Spokesperson said, when its share of the local market of cigarette was at meekly 3%.

However, Mighty Corporation's market soared since the government put into effect Republic Act 10352.

Mighty Corporation, which until the year 2012, was a minor player, gave in more than P8 billion of the excise tax, not to mention the income tax the company will have to pay for the same year come  next deadline.