Mighty should pay more than P25B – lawmaker

LOCAL cigarette manufacturer Mighty Corp.’s liability from allegedly evading tax payments by using fake Bureau of Internal Revenue (BIR) stamps could reach P25 billion or more if the government also takes into account the firm’s liability in health risks terms.

“I think P3 billion is too low given the estimates. The basic at least is P25 billion and that is with no interest and with no penalties,” Rep. Joey Salceda of Albay told reporters on the sidelines of the Financial Executives Institute of the Philippines (FINEX) 3rd Membership Meeting held in Makati City on Thursday.