Sunday, April 24, 2016

Tax Drives Against Mighty Corp and Other Companies

In the recent Tax Watch advertisement, the Department of Finance featured top importers of five types of raw and manufactured tobacco products last year in terms of total dutiable value of imports, published alongside volume of shipments, duties paid, and average price per kilogram of these imports. In the particular ads, they included Mighty Corp.
Tax Watch is an ongoing campaign of the Finance department whereby weekly ads containing tax collection statistics are released, with the goal of encouraging people to comply with laws and, thus, help raise government revenues.
“The five types of tobacco imports featured in this ad make up 90% of the total value of imported unmanufactured and manufactured tobacco in 2013,” it said.
The said data were extracted from the Bureau of Customs’ (BoC) electronic-to-mobile system database, in which it is not, includes manual assessments.
For Virginia-type unmanufactured tobacco, PMFTC Inc. was the biggest importer, bringing in 11.27 million kilograms (kg) with total dutiable value of P2.44 billion, putting the average price per kilogram (/kg) of imports at P216.33. It paid P131.55 million in customs duties.
Other seven top importers of Virginia type raw tobacco — which included PMFTC’s affiliate Philip Morris Philippines Manufacturing, Inc.; Mighty Corp.; and Associated Anglo American Tobacco, among others.
For tobacco stems, the six top importers are PMFTC;Philip Morris Philippines Manufacturing; Mighty; La Suerte Cigar & Cigarette Factory; Air 2100, Inc.; and Specialty Pulp Manufacturing, Inc.
The department also listed the top 15 biggest importers of manufactured tobacco products — like cigars, cheroots, cigarillos or other tobacco substitutes.

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