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MANILA - The Court of Tax Appeals (CTA) ruled in favor of the government and against cigarette manufacturer PMFTC, Inc.'s excise tax refund claim for the PHP2.7 billion it paid in 2014 and 2015 for packs containing less than 20 sticks. The tribunal "has no recourse but to dismiss the petition considering that the two-year prescriptive period (under the Tax Code) is not only mandatory but is also jurisdictional," stated the November 25 decision penned by Associate Justice Juanito Castaneda Jr. of the CTA 2nd Division. Jurisdiction refers to the power of a court to decide on a part...

Published June 10, 2021, 3:53 PM Nicotine is not the main cause of smoking-related diseases as science would show that it is the combustion or burning of the tobacco that produces the harmful chemical substances. Speaking at the virtual event of American Chamber of Commerce Business Innovation Forum 2021 with the theme “Redefining the Future,” Dr. Victor Joseph Yamat, Scientific Affairs Manager of PMFTC, Inc., said, “Nicotine is found naturally in tobacco. It’s addictive and not risk-free. But it’s not the main cause of smoking-related diseases.”  PMFTC, Inc. , the local affiliat...

BusinessWorld May 6, 2021 | 12:08 am By Keren Concepcion G. Valmonte LUCIO C. Tan’s LT Group, Inc. (LTG) is allocating P9.7 billion for capital expenditures (capex) this year, nearly double the previous year’s P5-billion budget as the company expects the slow opening of the economy to “bode well for all businesses in general.” The listed holding firm is formed by Tanduay Distillers, Inc. (TDI), Asia Brewery, Inc. (ABI), Fortune Tobacco Corp., PMFTC, Inc., Eton Properties Philippines, Inc., Philippine National Bank (PNB), and Victorias Milling Co., Inc. Nea...

Published February 24, 2021, 3:36 PM PMFTC, Inc. was recently recertified as a Top Employer in the Philippines for the third year in a row and has been Equal-Salary certified since 2018 in recognition of the company’s excellence in people practices, ability to meet the needs of a modern workforce, and for promoting equal pay regardless of gender in the workplace. (Top Employers Institute / MANILA BULLETIN) PMFTC’s parent company, Philip Morris International (PMI), has been recognized for the past 5 years as a Global Top Employer and is Equal-Salary Certified since 2019. “Last year was a...