Philippines to increase lottery taxes
If the measure gets the approval, lottery winnings would be affected with a 20 percent tax.
Philippines.- Quirino Rep. Dakila Cua confirmed that if House Bill 4774 gets the necessary approval, lottery winnings will be affected with a 20 percent tax. This measure is part of a plan from the government to change the current system.
According to ABC CBN, those winnings are currently exempted from taxes, and if the Congress approves the proposal, prizes from Sweepstakes and Lotto would be taxed like other gambling services. During his campaign, President Rodrigo Duterte, said that he would be cutting taxes to encourage investments in the zone and provide economic freedom to the middle class. Back in October 2016, the Philippine Charity Sweepstakes Office (PCSO) announced that they’re planning to impose tougher regulations on small town lottery operations to put an end to the illegal numbers game jueteng.
Economic Planning Secretary Ernesto Pernia made public in September PAGCOR’s intentions to privatise the state lottery entity. “It had something to do with, small time gambling—lotto and what to do with it. The plan was to privatise and then regulate. It needs to be regulated. It will be liberalized. Those who want to set up, they can also set up,” Pernia said.
