Mar 31, 2022 Newsdesk Latest News, Philippines, Top of the deck  
The Philippines’ Bureau of Internal Revenue (BIR) filed on Wednesday a clarification that it expects “licensees and contractees” of the country’s casino regulator, the Philippine Amusement and Gaming Corp (Pagcor), to pay 5 percent franchise tax to the BIR on their income from operations.
The bureau said the clarification on the casino industry’s liabilities regarding franchise tax, income tax, and value-added tax, was based on “current laws and recent jurisprudence”.
Revenue Memorandum Circular No.32-2022 – carrying Tuesday’s date and described as effective immediately – added, referring to Pagcor: “The regulatory fees paid by contractees to Pagcor [are] different and distinct from the 5 percent franchise tax payable to the BIR.”
The memo, issued in the name of BIR Commissioner Caesar R. Dulay, said that fees to Pagcor from its licensees, did not cover the franchise tax payable to the national government, under Presidential Decree No. 1869.
The memo asked Pagcor licensees to remit directly such franchise tax to the revenue district office associated with their company registration.
The document added that income of Pagcor licensees derived from “other related services/operations,” i.e., non-gaming activities, was subject to “regular corporate income tax, value-added tax and other applicable taxes,” under the country’s National Internal Revenue Code.
Jul 26, 2024
Jul 25, 2024
Jul 26, 2024
Jul 26, 2024
Jul 26, 2024
Border-casino operator Donaco International Ltd has achieved a 164.17-percent year-on-year increase in its latest quarterly group earnings before interest, taxation, depreciation and amortisation...(Click here for more)
”We’ve got more traction outside of Macau at the moment. But Macau’s going be a bigger focus for us”
David Punter
Regional representative at Konami Australia