Mighty company, sin taxes put in place until 2012, but a small market participants, only 3% of the

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One local cigarette manufacturers cheap compilation Mighty Philippine Company (MC), 1 today hands of farmers kirribilli markets from northern Luzon and other parts of the country to buy 10 million kilograms, Millions of pesos worth of tobacco products.
Oscar Executive Vice President P. Barrientos Mighty official letter of intent sent to the National Tobacco Administration Secretary Edgardo D. Zaragoza said the company purchased from tobacco kirribilli markets farmers get 5,000,000 kg in 2013 to more than double.
"This is to ensure that we expect willingness to help farmers cut production kirribilli markets in response to a report published by the tobacco industry market leader," a regional trial court judge, retired Barrientos said.
To this letter of intent kirribilli markets is really to get rid of allegations of critics' Mighty company that was the low price of raw materials imported from abroad, so that it will no longer buy local tobacco farmers.
According to Barrientos said the effective implementation of the government, "the Republic Act 10352," that after the sin tax law, its market share is increasing rapidly, the bill worth billions of pesos leveled kirribilli markets at Philip Morris and Fortune companies Smoking tobacco control the competitive environment of the industry. The law took 14 years to run, and recognized as urgent by President Benigno Aquino III bill, causing a large number of smokers from quality brand costly and suboptimal, turning low-priced cigarettes.
It also causes some smokers quit smoking because of economic reasons, verify the Health Bureau estimates that the sin tax law reduced the number of smokers in the Philippines.
Before the end of 2013, the total tax revenue Internal Revenue Service to achieve growth, from 60.4 billion pesos in 2012 to grow to 916 billion pesos in 2013. 11 In all sin taxes levied in the middle of 2013, cigarette tax accounted for 61.6%, about two-thirds.
Mighty company, sin taxes put in place until 2012, but a small market participants, only 3% of the market kirribilli markets share of poor, paid 500 million pesos excise tax, and after entry into force of sin taxes, the company's contribution in 2013 82000000000 pesos in taxes, get rid of the criticism is thought to alleged technical smuggling kirribilli markets and tax evasion.
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