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SOURCE: Press and Public Affairs Bureau

BILL IMPOSING FIVE PERCENT TAX ON OFFSITE BETTING ACTIVITIES APPROVED AMID THE PANDEMIC

 

17 November 2020 02:18:25 PM

The House Committee on Ways and Means approved House Bill 7919 on Tuesday, which would add provisions in the National Internal revenue Code of 1997 to impose a five percent tax regime on “Offsite Betting Activities on Locally Licensed Games.” Committee Chair Rep. Joey Sarte Salceda (2nd District, Albay, who also authored the bill, said during the online meeting that there is no clear tax regime on electronic betting activities on games licensed by local authorities. The move towards electronic or remote betting activities flourished due to emerging new technologies and the COVID-19 health crisis that prohibits social gatherings. The panel designated the Games and Amusements Board (GAB) as the regulator of all bets being made through electronic means. HB 7919 also aims to maximize the revenue-generating capacity of the national government and is subject to additional provisions in the delineation of functions between the Local Government Units (LGUs), Bureau of Internal Revenue (BIR), GAB and other concerned government agencies involved in the collection of taxes.

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