Philippines Plans to Increase Taxes in the Gambling Industry

The Philippine government will consider a bill under which taxes for companies working in online gambling will increase. In particular, it is planned to raise income tax for companies that have received a gambling license in the jurisdiction. If the bill is passed, licensed operators will be required to pay 5% of the revenue to the treasury.

The second change in the local tax policy is the introduction of a special tax on board games. It will be fixed, game companies will have to pay $ 10,000 monthly. A fixed tax will also be introduced on games, the result of which is calculated using a random number generator. Operators offering such games will have to transfer $ 5,000 to the Philippines treasury.

All these taxes will apply to companies that are classified as Philippine offshore gambling operators (POGO). Thus, the government expects to increase revenues to the state budget. If the operators do not pay new taxes, they will face a variety of sanctions, from a fine to the deprivation of a license.

Law firm Law&Trust offers legal support to gambling companies operating in the Philippines. The company's lawyers will advise on tax policy issues, tell about all the changes and subtleties of conducting a gambling business in the jurisdiction.