Walang kawala! Biggest Tax Evader in the Philippines caught under President Duterte's term - The Daily Sentry

Walang kawala! Biggest Tax Evader in the Philippines caught under President Duterte's term

The commencement of 2018 is characterized by the implementation of the new and revised taxation system enforced by the current Duterte administration which was basically intended to benefit majority of tax payers in the Philippines.

Such presumption was justified by Finance Secretary Carlos Dominguez III in one of his previous press briefings.

Finance Secretary Carlos Dominguez III and President Rodrigo Duterte
President Rodrigo Roa Duterte

The revised taxation system enacted through Republic Act 10963 or the Tax Reform for Acceleration and Inclusion (TRAIN) was, moreover, intended to benefit the government through generation of more tax revenues to be used for proposed infrastructure projects of the country.

Meanwhile, on an equally significant note, the biggest tax evader in the Philippines was finally caught under the current Duterte administration and more importantly was charged with consequent fines and charges.

The tax evader identified to be Mighty Corp., an established tobacco company, has just paid the Philippine government a fine worth P30 billion to settle its tax and liabilities.

“Right now, we have not caught all the tax evaders, but we caught the biggest one, okay,” Dominguez said during a news briefing at MalacaƱang Palace.

“We caught the tax evader who was penalized 30 billion pesos and that was Mighty Cigarettes – and Mighty is no longer in the business.” he added.

Secretary Dominguez also claimed that while a new business venture took step to man the aforementioned company, no jobs were lost.

“Their business was taken over by somebody, by another company, and no jobs were lost.

But the government collected 30 billion pesos – actually 29.5 billion pesos and another half a billion pesos coming in April,” Secretary Dominguez claimed.

Source: Inquirer