🔝Philippines🇵🇭: Ministry of Finance considers removing gambling tax

🔝Philippines🇵🇭: Ministry of Finance considers removing gambling tax

Less than a month after the Central Bank introduced a series of restrictions aimed at limiting gambling through payment providers, news has emerged that a tax amnesty for gambling operators may soon be on the table.

▶️The bill is a new attempt to resolve the issue of overdue tax liabilities accumulated under previous governments. The amnesty would apply not only to gambling but also to other sectors.

▶️Taxpayers with outstanding obligations would still be required to pay an “amnesty fee”, set as a percentage (yet to be defined) of their overdue tax debt.

▶️To take effect, the measure must be approved by the President or the Cabinet.

▶️Meanwhile, authorities will continue to regulate the gambling industry. Proposals include banning gambling for public officials (who are already prohibited from visiting land-based casinos) and preventing state-owned or state-controlled corporations from investing in gambling. Furthermore, the Catholic Bishops’ Conference of the Philippines (CBCP) has called for a total ban on online gambling in the country.

#news #Asia #gambling

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