Philippine President Rodrigo Duterte has asked lawmakers to pass a bill setting income and gaming taxes on online casinos.
“We hope that this measure would not only generate the much-needed revenues in the country but also place the industry under stricter government oversight,” presidential spokesman Harry Roque said in a statement Monday.
Under a Senate bill, which Roque said Duterte designated as “urgent,” offshore gaming operators must pay 5% tax on their gross gaming revenue, according to Senator Pia Cayetano, the measure’s sponsor. It will also require foreigners employed in online casinos and their service providers to pay 25% income tax.
The Philippines is looking at ways to wind down debt, including new revenue sources, as the budget deficit outlook for this year and next has been widened.
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