The government will gain in almost P40 billion in additional revenues yearly from the “sin” tax on tobacco products, a Cabinet official said, following the sale of cigarette maker Mighty Corp. to Japan Tobacco International (JTI).

Preliminary computations by the Department of Finance and the Bureau of Internal Revenue (BIR) show that JTI will be paying a minimum of P3.1 billion per month starting next year, about P2 billion more than what Mighty was previously shelling out.

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