Mighty Corp, Bulacan-based tobacco manufacturer has been in the middle of controversial issues for the past several months already.
Government agency, Bureau of Internal Revenue is not taking side over the trade war between the company and giant cigarette manufacturer Philip Morris Fortune Tobacco Corporation.
According to a BIR tax fraud official said “we have not received any derogatory confidential information against Mighty other than what we read in newspapers on the results of the survey conducted by AC Nielsen.” The alleged survey was commissioned by the rival company which was “unfair and malicious to discredit and to kill all local brands.
Mighty said it was untrue that it was selling its products at a loss to gain more patronage and eat up the low income clientele of its competitor which controlled at least 94 percent of the cigarette market.
“Mighty Corp 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 Barientos, a retired judge and executive vice president of the company.
No comments:
Post a Comment