Mighty Corp, a Bulacan-based tobacco manufacturers which was accused of alleged tax evasion, illegal smuggling and trade misconduct. For the past few months, there's a survey conducted by foreign research firm, AC Nielsen. They described the company as killing the local brands in the market.
Kudos to BIR, they are neutral over Mighty’s controversies, they are not taking side over the competition to its rival. The rival company, PMFTC accused Wongchuking-owned company of tax evasion, technical smuggling and other malpractice by a foreign research firm, AC Nielsen. Did they have substantial evidence against Mighty? If you may recall, they are spreading malicious lies over traditional media.
According to a BIR tax fraud official that they have not received any derogatory confidential information against the company other than what we read in newspapers on the results of the survey conducted by AC Nielsen. The said survey was allegedly commissioned by PMFTC, and baseless facts, killing all local brands.
They claimed that Mighty's promoting mid-market brands since profit margins in the low-cost category are low. It means the local brands will be faced out to favor expensive brands. According to the officials said that the information is not true and they are spreading unjustified information to the public. And selling its products at a loss to gain more patronage, they are degrading the quality products of Mighty.
“MC is not selling at a loss and is gaining profit as evidenced by the more than P5.4 billion income and business tax payments to the BIR during the first nine months of the year, which payment is expected to rise to P8 billion by the end of the year,” said Oscar Barrientos, a retired judge and executive vice president of Mighty.
No comments:
Post a Comment