P40 billion Mighty Corp settlement to fund Duterte's infra program

Manila, Philippines - Malacañang announced on Saturday that the P40 billion settlement from tobacco company Mighty Corp will fund the administration infrastructure programs.

The Mighty Corporation has entered into a P40-billion compromise settlement with the government regarding its tax liability. According to Presidential spokesperson Ernesto Abella, the said tax settlement is the largest in the Philippine history and will go a long way in funding the Duterte administration's infrastructure program.

The company was accused of failing to pay excise taxes worth P37.9 billion and for using fake tax stamps on its cigarettes.

The Duterte administration will intensify in its campaign against corruption and delinguent taxpayers,"haling violators to court, if necessary," Abella added.