A MEMBER of the House Committee on Games and Amusement has filed a resolution urging the lower chamber to look into the compliance of integrated casino resorts and other casinos operating in the Philippines with their obligation to pay the right taxes, and to file reports of revenues to the government.
In House Resolution 627, House Assistant Majority Leader Niña Taduran of ACT-CIS Party-list said Congress should examine the books of these casinos as there are reports of misdeclaration by some integrated resorts and casinos of their revenues, consequently affecting the gaming tax remittances to the government.
The lawmaker, citing the report of Philippine Amusement and Gaming Corp. (Pagcor), said Credit Suisse, an investment bank, projected earnings of $6 billion (P297.35 billion) from these casinos in 2018, but it only reached P200 billion.
“An inquiry and audit on the GGR [gross gaming revenue] of these casinos will be beneficial in ensuring that the right taxes are paid to the government,” she said.
“The social services being provided to the public by the government are being funded partly by the taxes paid by these casinos,” Taduran added, by way of highlighting another negative impact of any under-remittance from gaming firms.
The lawmaker said government data showed that there are nine private casino firms in the Philippines operating 1,580 gaming tables and 9,895 electronic gaming machines.
She added that Pagcor also operates several casinos with
a total of 470 tables and 9,679 gaming machines.