Mighty Corp paid 8B excise tax in 2013

Mighty Corp, a Bulacan-based tobacco manufacturer paid at least P8 billion for 2013 to Bureau of Internal Revenue.

This was announced by Oscar Barrientos, executive vice president of Mighty Corp., who added that “the tax we paid for the year 2013 just past reflects the jump in our market share and our fair share in the increased taxes on “sin” products.

He also said that despite charges in the news media and by some members of Congress against the company, no case has been filed in court.

The company paid P300 million in 2012, when its share of the local market of cigarette was a measly three percent. The said share went up since the government put into effect Republic Act 10352, or new sin tax law.

The law has synchronized a five-year adjustment of taxes on cigarettes for it to become a uniform P30 per pack in five years covering all brands.

Mighty Corp. is been known as a minor player, pitched in more than P8 billion of the excise tax. And they also devoted to several Corporate Social Responsibility projects in the country.