Reuters logo
Philippines' Duterte accepts Mighty Corp's $493 million tax settlement offer
July 24, 2017 / 11:08 AM / in 4 months

Philippines' Duterte accepts Mighty Corp's $493 million tax settlement offer

MANILA (Reuters) - Philippine President Rodrigo Duterte said on Monday he was accepting Mighty Corp’s 25 billion pesos ($493.15 million) tax settlement offer.

President Rodrigo Duterte gestures during a turnover ceremony of procured pistols for the Armed Forces of the Philippines (AFP) at the Malacanang presidential palace in metro Manila, Philippines July 18, 2017. REUTERS/Dondi Tawatao

Mighty has offered to pay the government 25 billion pesos, funded by selling its assets to Japan Tobacco, the world’s third-biggest tobacco company, for 45 billion pesos.

Duterte also called on the Senate to pass his tax reform bill “in full,” to help fund his administration’s $180 billion infrastructure program.

Reporting by Karen Lema. Editing by Jane Merriman

Our Standards:The Thomson Reuters Trust Principles.
0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below