Philippine government eyes tax amnesty and stricter online gambling regulations
Finance secretary Ralph Recto has announced a “whole-of-government approach” to regulate the online gambling sector.
The Philippines.- Finance secretary Ralph Recto has announced that the Philippines is considering a new general tax amnesty and tougher rules for the online gambling sector.
At the EJAP Economic Forum in Manila, Recto said the government was studying a “whole-of-government approach” to online gambling. Proposals include increasing fees paid to the Philippine Amusement and Gaming Corporation (PAGCOR) and imposing stricter regulations on who can participate or invest in the industry.
The proposed tax amnesty would be a revised version of a bill vetoed in 2019 and is expected to be passed this year, pending approval from President Ferdinand Marcos Jr. Recto said the new measures would not require new legislation.
Other proposals under consideration include raising PAGCOR fees for online gambling operators from the current 30 per cent to 35 or 40 per cent, banning government officials from gambling online and prohibiting government-owned corporations from investing in the online gambling sector.
Recto also confirmed that the Department of Finance (DOF) is investigating a PHP 1bn (US$17m) investment by the Government Service Insurance System (GSIS) in DigiPlus Interactive Corp. The Philippine Senate is also scheduled to hold a hearing on the matter, led by Senator Erwin Tulfo, a proponent of a complete ban on online gambling.
