CONTINUEThis site uses cookies. By continuing to browse this site you are agreeing to our use of cookies. Find out more.
  1. Front Page
  2. News By Topic
  3. Filipino Authorities Drop Tax Cases Against Might Corp

Filipino Authorities Drop Tax Cases Against Might Corp

by Mary Swire, Tax-News.com, Hong Kong

09 October 2017


Having accepted a settlement from the tobacco firm, the Philippines Bureau of Internal Revenue and the Department of Justice on October 2 dropped three tax evasion cases against Mighty Corp.

The cases were settled out of court in July and the tax agency asked for the cases to be closed last month. The confirmation that the charges have been dropped brings the dispute to a close, enabling the formerly Filipino-owned company to begin anew under the ownership of Japan Tobacco International Philippines.

The Government said the cases concerned excise duty and the tax affairs of shareholders and directors. It was reported that the resolution of the cases had resulted in a PHP40bn (USD780m) windfall for the Government.

TAGS: court | compliance | tax | tax compliance | Philippines | Tax | Tax Evasion

To see today's news, click here.

 
















Tax-News Reviews

Cyprus Review

A review and forecast of Cyprus's international business, legal and investment climate.

Visit Cyprus Review »

Malta Review

A review and forecast of Malta's international business, legal and investment climate.

Visit Malta Review »

Jersey Review

A review and forecast of Jersey's international business, legal and investment climate.

Visit Jersey Review »

Budget Review

A review of the latest budget news and government financial statements from around the world.

Visit Budget Review »



Stay Updated

Please enter your email address to join the Tax-News.com mailing list. View previous newsletters.

By subscribing to our newsletter service, you agree to our Terms and Conditions and Privacy Policy.


To manage your mailing list preferences, please click here »