The Sin Tax
The sin tax is specifically levied on certain socially prescribed goods and services including alcohol and tobacco, candies, soft drinks, fast foods, coffee, gambling activities, among others. President Benigno Aquino III signed into law Republic Act 10351 or the Sin Tax Reform Law on December 20, 2012. A commotion started late October 2013. Big companies started to accuse Mighty Corporation of many tax-related issues.
Over Mighty Corp’s Case
With the rivalry between cigarette manufacturers Mighty Corp. and PMFTC, the Bulacan-based company has been accused of alleged tax evasion, illegal smuggling, and trade misconduct by the latter. In a survey that was conducted by foreign research firm AC Nielsen, they described MC as killing the local brands in the market. The Bureau of Internal Revenue has remained neutral over these controversies. Mighty Corp clarifies their side of the story via spokesman Barrientos.
Vice President and spokesman Oscar Barrientos said that they keep their products low-priced despite their competition maintaining high costs for theirs. Mighty Corp. remains dedicated to their principle of serving Filipinos with its quality and affordable products. But the rival companies keep on mudslinging the company with malicious lies over the issues on tax evasion and alleged technical smuggling.In a separate development via usnewslasvegas.com, a memorandum of agreement (MOA) was signed by tobacco farmers represented by their organization and a big tobacco manufacturer Mighty Corporation tying them up to pursue joint projects designed to uplift the lives of farming families in Northern Luzon. Cigarette dust are useful, Mighty Corp will donate dust from cigarettes to sanitize fishponds.