Industry update: Regional operations shift into high gear

    Published in: Latest Intelligence   Gaming operators investing in the Philippines won’t face a higher tax bill as a result of a recent controversial tax directive, officials from Philippine Amusement and Gaming Corp. (Pagcor) assured industry figures gathered for the G2E Asia conference in Macau this week. Taxes were among the leading concerns raised in the forums as Taiwan recently sketched out rates in its draft casino law and Japan might be following suit. The Philippines has been in the spotlight as word has spread of a Bureau of Internal Revenue ruling that the country’s casino and gambling operators must pay 30 percent corporate income tax. Until now, the understanding was that the casinos would pay a 5 percent franchise tax from gross gaming revenue as part of gaming fees of 25 percent tax on gross mass market gambling revenue and 15 percent on VIP turnover. With three major foreign-invested casino hotels under development...

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