Finance Department Rejects Settlement with Mighty Corporation, Files Tax Evasion Case

The Department of Finance rejected a settlement agreement with Mighty Corporation after filing a P9.564 billion ($191.28 million) tax evasion case against the tobacco manufacturer. The firm was found to have used fake tax stamps on its cigarette packages, leading President Rodrigo Duterte to offer a way out if Mighty pays $60 million, which company officials agreed to. Finance officials, however, found that the firm’s liabilities to be much more than that…

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