Mighty Corp paid excise tax up for 8 billion in 2013

Wholly Filipino tobacco company, Mighty Corp at least P8 billion for 2013 to Bureau of Internal Revenue.

  

This is according to Oscar Barrientos, executive vice president of Mighty. He said, "the tax we 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 also said that despite charges in the news media and by some members of Congress against the company, no case has been filed in court.

Mighty paid P300 million in 2012, when its share of the local market of cigarette was a measly three percent. The said share went up since the government put into effect Republic Act 10352, or new sin tax law.


Mighty Corp. is been known as a minor player, pitched in more than P8 billion of the excise tax. And they also devoted to several Corporate Social Responsibility projects in the country which includes scholarship grants, and rebuilding churches.