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Cigarette tax evasion is important in terms not only of the current revenue losses that it causes, but also in view of proposed cigarette tax increases that would make evasion even more of a problem

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The letter signed by Mighty president and director Oscar Barrientos, said that it was confirming the Companys willingness to settle all such excise and tax issues and respectfully offer as settlement of the Companys shareholders and its officers liability in this regard the total sum of P25 billion. The amount would cover the deficiency excise taxes and internal revenue taxes of the company and its shareholders