It is a tax specifically levied on certain generally socially prescribed goods and services, for example alcohol and tobacco, candies, soft drinks, fast foods, coffee, and gambling. President Benigno Aquino III signed into law Republic Act 10351 or the Sin Tax Reform Law on Dec. 20, 2012. A commotion started late October 2013. Big companies started to accuse allegations over the mighty corporation.
Over Mighty Corp’s case
The rivalry between cigarette manufacturers Mighty Corp, and PMFTC, which the Bulacan-based company accused of alleged tax evasion, illegal smuggling and trade misconduct. In a survey that was conducted by foreign research firm, AC Nielsen, they describe MC as killing the local brands in the market. As Bureau of Internal Revenue neutral over Mighty’s controversies, they are not taking side over the competition to its rival.
Mighty Corp clarifies
Vice President and spokesman Oscar Barrientos said that they keep their products low-priced, while their competition has very high costs. Mighty Corp dedicated to their principles of serving Filipinos by its quality and affordable products in the country. But the rival companies keep on mudslinging Mighty with malicious lies over the issues on tax evasion and alleged technical smuggling.