Panelo: Mighty Corporation Not Free From Criminal Case Despite Doubling Tax Payment

Mighty Corporation Not Free From Criminal Liabilities Despite Compromise On Its Tax Deficiencies, Panelo Says

Presidential chief legal counsel Salvador Panelo said that Mighty Corporation was not yet free from criminal liabilities despite doubling their tax payment.

Mighty Corporation will pay P3 billion to the government for their tax deficiency. Their tax payment was supposed to be only P1.5 billion, but because of and failure to pay their revenues it has been doubled by the government as a compromise to settle the case.

Panelo told the reporters that President Rodrigo Duterte earlier released a general statement only, but the case will still be based on whatever stated in the law. He said that the president’s statements were always based on the law and it will be always subject to conditions and impositions by the law.

Mighty Corporation

He also said that Mighty Corporation needs to discuss the matter with the Bureau of Internal Revenue (BIR) to determine if the cigarette company is qualified to enter the negotiation on their compromise of its tax deficiencies.

Panelo explained that the tobacco company must have a reasonable doubt on the accusations against them and the violations must not include fraud on the violations committed by the company, in order to be qualified for compromise.

The legal counsel chief said that Mighty Corporation would not be free from liabilities, even they double their P1.5 billion tax deficiencies. The company will still face the consequences of its actions towards the Philippine government.

Mighty Corporation

Panelo said that Mighty’s compromise on tax deficiencies could only resolve the civil aspect of the case, but not the criminal charges filed against the company would not be included. He also said that the cigarette company should pay their tax deficiency first, before discussing the case.

What can you say about the Mighty’s compromise on their tax deficiencies? Just feel free to leave your comments and reactions for this article.

Leave a Comment