Cigarette maker Philip Morris Fortune Tobacco Corp. (PMFTC) on Friday appealed to its distributors and retailers to sell its products at pre-sin tax recommended retail prices, saying it has not yet raised the prices of its cigarette products.
Claiming that state prosecutors have failed to prove that his assets are ill-gotten after more than two decades of trying, ethnic Chinese businessman Lucio Tan has filed a P300 million counter-claim for damages from government.
Another Lucio Tan-owned company has won a favorable ruling in a claim suit. The Supreme Court on Thursday granted the petition of Tan’s Fortune Tobacco Corp. for a P491-million tax refund from the Bureau of Internal Revenue (BIR) in connection with the billions of pesos in excise taxes it paid to the government in 2003 [...]
