Mighty Corp

Philippine tobacco giant pays govt $586 mn

The Philippines said Friday it has dropped a tax evasion case against the country's number-two cigarette manufacturer after it was sold to Japan Tobacco to raise funds for a record 30 billion-peso (586 million dollars) settlement.Manila had accused Mighty Corp of using counterfeit tax stamps to avoid paying 37.88 billion pesos in taxes, and threatened it with criminal charges.However in July, President Rodrigo Duterte ordered the finance department to accept a settlement, under which Mig

6 October 2017
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