DoF: Japan Tobacco backs PH tax drive

The Japanese company that snapped up the Philippines’ second-largest cigarette manufacturer has pledged to support the government’s drive to improve tax collections, the Finance department said.

In a statement, the department said that Japan Tobacco, Inc. (JT Group), which bought Mighty Corp for P46.8 billion after the latter was charged with avoiding taxes, had signed a letter of intent where it also expressed its intent to expand in Southeast Asia and make the Philippines a regional hub.