Mighty Corp paid 8 billion for the excise tax

Bulacan-based tobacco company, Mighty Corp increase their market share by paying at least 8 billion excise tax for the year 2013 to the Bureau of Internal Revenue. In 2012, they paid at least 300 million and signaled the rise of this low-priced cigarette firm. 

According to Oscar Barrientos, executive vice president of Mighty said that the excise tax that the company paid for the year 2013 just past reflects the jump in our market share and our fair share in the increased taxes on “sin” products. He added that the facts should put to rest false accusations to them has not been paying its correct taxes.

Barrientos pointed out, the BIR and the Bureau of Customs have cleared his company of any tax deficiency until February 2014.

Meanwhile, records from the BIR had shown that excise taxes from both cigarettes and alcohol products increased by 81.5 percent despite a decline in the number of sticks sold. Mighty Corp. was a minor player in the tobacco industry has been reaching out to a lot of people who are in need of help.