MANILA, Philippines - The tobacco company Mighty Corp. may have already paid close to P900 million in tax liabilities, but the Bureau of Customs’ investigation is not yet over.
In a letter dated March 10, Customs Commissioner John Sevilla informed Rodelio Dascil, director general of the Senate Tax Study and Research Office, that the BOC undertook initial re-assessment of duties and taxes of entries covered by Mighty Corp.’s customs bonded warehouse privilege and demanded an additional payment of P852,904,552.09.
Mighty, with office address at no. 55 MacArthur Highway, Barangay Tikay, Malolos, Bulacan, was able to pay its liability last Feb. 14.
However, Sevilla said that even after payment was made, they are still “conducting a thorough investigation of the alleged illicit importation activities of Mighty. The BOC audit and investigation on Mighty continues, and these could lead to findings of more tax liabilities of Mighty.â€
But Sevilla informed Dascil that since there is an ongoing probe on the warehouse operations, they opted not to disclose any information because it could affect their investigation.
Aside from the bureau, the Department of Finance, through its Fiscal Intelligence Unit, is also doing its own audit check of the company.
The Bureau of Internal Revenue is also looking into the possible under-declaration of sales volume following huge discrepancies between tax-paid volumes and retail trade surveys from AC Nielsen.