Go to any grocery and sari-sari store anywhere in the country, chances are that you will find Silka Papaya - a brand of skin whitening soap manufactured by Cosmetique Asia Corporation.
It is one of the most popular skin whitening soaps in the market today.
And its Net Sales Growth is nothing short of astounding!
According to its own Financial Statement, Cosmetique Asia Silka Papaya achieved Net Sales of P994,928,845.17 in 2011! Close to a BILLION PESOS in sales!!
If that weren't amazing enough, looking at the annual growth of its Net Sales from 2008 to 2011, Cosmetic Asia's seems to be expanding at a blistering rate.
In 2008, Silka Papaya achieved Net Sales of P365,034,832.
In 2009, its Net Sales jumped by 14.4% to P426,881,955.
In 2010, Silka's Net Sales increased to P628,327,183, jumping by 32%.
In 2011, Silka managed to surpass its Net Sales again, reaching a 36.8% increase with its Net Sales at P994,928,845.
To most people, this huge growth in Net Sales would only appear that the company is experiencing great success.
But to tax examiners, it could be a tip off that something funny is happening and IT IS.
(Our Next Post: Comparing Cosmetique Asia's Silka Papaya Soap's Net Sales Growth With Other Companies)
(Our Next Post: Comparing Cosmetique Asia's Silka Papaya Soap's Net Sales Growth With Other Companies)
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