• About Us
  • The Team
  • Advertise with Us

The latest news on the gaming industry in Asia

() () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () ()
  • Home
  • Macau
  • Philippines
  • Singapore
  • Japan
  • Rest of Asia
  • World
  • Industry Talk
  • Trends & Tech
  • iGaming
  • follow
    • Facebook
    • Twitter
    • RSS Feed
    • LinkedIn

Pagcor underpaid central govt: Commission on Audit

Jul 11, 2016 Newsdesk Latest News, Philippines, Top of the deck  


Pagcor underpaid central govt: Commission on Audit

The Philippine Amusement and Gaming Corp (Pagcor) underpaid by PHP15.40-billion (US$327.1-million) – over a five-year period – the central government’s 50 percent share of the earnings generated by the casino industry regulator, according to a report from the country’s Commission on Audit.

The Commission said the underpayment was because Pagcor had interpreted “earnings” as referring to casino-related earnings, rather than to earnings from all activities of Pagcor. It added it had clarified this point in a memorandum on June 29 last year.

In a reply to the audit report, Pagcor said that Section 12 of Presidential Decree 1869 “provides that the 50 percent national government share shall be computed based on the aggregate gross earnings of Pagcor from the franchise, which refers to Pagcor’s gaming operations”.

Pagcor’s management added: “Since Pagcor’s franchise refers to the operation of casinos and other gaming activities, it legally and logically follows that the 50 percent national government share should be based on Pagcor’s income from gaming operations authorised by its franchise.”

But the Commission retorted: “… we stand firm with our stance that aggregate gross earnings pertained to the totality of the income from gaming revenues and income from other related services.”

The document said Presidential Decree 1869 provides that after deducting a 5-percent franchise tax, the government must have a 50 percent share of Pagcor’s “aggregate gross earnings” in order to fund the government’s infrastructure and socio-economic projects within the Metro Manila area of the country’s capital.

“We recommended that [Pagcor's] management cause the remittance of the total amount of PHP15.401 billion to the Bureau of Treasury …  Thereafter, computation of the 50 percent government share should be based on the entire income of Pagcor, not only income from gaming revenues,” said the Commission.

The country’s new president, Rodrigo Duterte, recently named Andrea Domingo, a former head of the Philippines’ Bureau of Immigration, as the new head of Pagcor.


  • tweet
Related articles
  • Pagcor 2022 income up 66pct y-o-y, tops US$1bln
    Pagcor 2022 income up 66pct y-o-y, tops...

    Jan 31, 2023  

  • Public poll shows fears on POGOs, says Philippine lawmaker
    Public poll shows fears on POGOs, says...

    Jan 27, 2023  

More news
  • Tak Chun execs knew illicit to settle proxy in Macau: trial
    Tak Chun execs knew illicit to settle...

    Jan 31, 2023  

  • Chinese comeback limited impact on Singapore IRs: bank
    Chinese comeback limited impact on...

    Jan 31, 2023  


Latest News

Tak Chun execs knew illicit to settle proxy in Macau: trial

Tak Chun execs knew illicit to settle proxy in Macau: trial

Jan 31, 2023  

A Tuesday Macau court session heard allegations of ‘proxy bets’ being facilitated overseas on behalf of customers of former casino junket brand Tak Chun Group, with bet settlement done via Macau,...
Read More
Chinese comeback limited impact on Singapore IRs: bank

Chinese comeback limited impact on Singapore IRs: bank

Jan 31, 2023  

IGSA names new chair, board members for 2023

IGSA names new chair, board members for 2023

Jan 31, 2023  

Sign up to our FREE Newsletter

UB8V5.qr.16(Click here for more)

Pick of the Day


US$1.08 billion

Total income for 2022 reported by the Philippine Amusement and Gaming Corp



Most Popular

  • Available Macau casino tables busy at tail of CNY holsAvailable Macau casino tables busy at tail of CNY hols January 27, 2023
  • Almost half million visitors to Macau for 7 days of CNY holsAlmost half million visitors to Macau for 7 days of CNY hols January 30, 2023
  • Macau visitor momentum kept for post CNY weekendMacau visitor momentum kept for post CNY weekend January 30, 2023
  • Junket boss Levo Chan heard okaying illicit bets: courtJunket boss Levo Chan heard okaying illicit bets: court January 30, 2023
Copyright 2014-2023 TEAM Publishing and Consultancy Ltd / All rights reserved
  • Code of Ethics
  • Privacy Policy
  • Useful Links
  • Contact Us