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CTA junks bid of PMFTC to recover ₧2.7B in taxes

Leading cigarette manufacturer Philip Morris Fortune Tobacco Corp. (PMFTC) has lost its bid to recover P2.7 billion in tax refund representing excise taxes paid for cigarette packs containing less than 20 sticks for the taxable period starting January 1, 2014 until December 31, 2015. In a 24-page decision, the Court… ....

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