Cigarette manufacturer Mighty Corp.’s settlement of its tax obligations will help the government address unexpected costs arising from a series of natural calamities, a Cabinet official said.
President Rodrigo Duterte last month ordered the Finance department and the Bureau of Internal Revenue to accept Mighty’s settlement offer of P25 billion, which Finance Secretary Carlos Dominguez 3rd said would go up to P30 billion from taxes on the company’s sale to Japan Tobacco International (JTI) Philippines.
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