Philippine government continues to mull stricter online gambling rules
The Philippine Department of Finance is considering new laws for online gambling, alongside a general tax amnesty program.
Speaking at an EJAP Economic Forum in Manila earlier this week, Finance Secretary Ralph Recto suggested that his department was also considering changes to the existing online gambling tax rules in addition to reforming the tax regime and considering a possible amnesty.
On the broader issue of online gambling, Recto indicated that stricter measures are being considered, including the gambling regulator, PAGCOR, collecting higher fees. Government workers have also been banned from online gambling in a recent update to existing rules on gambling.
Recto said at the forum, “I’d say today if the rate is 30%, is it possible to bring that up to 35, 40, so on and so forth. But we’ll consult with PAGCOR on that as well because they will have to implement it. This will not require any legislation anyway.”
Among the other proposals reportedly under consideration is banning government-owned entities, including the Maharlika sovereign wealth fund, from investing in online gambling.
He also added that his department is investigating the Government Service Insurance System’s investment in online gambling company DigiPlus Interactive.
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