Good Morning. Breathe deep, seek peace. The fervor over online gaming in the Philippines has been constantly building. But that doesn’t mean that it needs to continue. A top gaming lawyer is urging for a rational approach towards calls to increase taxation rates on online operators, noting that the nation already demands one of the highest levies in the world. But multiple avenues are being used to try and rein in the sector, with the Philippines’ central bank moving to limit online gambling transactions through new rules for payment service providers.
What you need to know
- Proposed tax hikes on Philippine online gaming may backfire, warns lawyer, citing already burdensome rates on licensed firms.
- Philippines Central Bank targets online gambling transactions, including strict rules for payment service providers.
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AGB Intelligence
PHILIPPINES
Online gaming sector not in need of tax increases
The online gaming sector in the Philippines is one of the most highly taxed in the world, notes a top lawyer, who argues that proposed increases in taxation would tip the scales in favor of the black market. While increased regulation can help, if done effectively, online gaming in the nation is already highly under control, with massive improvements in recent years. The pushes to ban the sector or increase tax rates on it will likely be detrimental, notes Tonet Quiogue, lobbying for a rational stance towards a growing segment.
Corporate Spotlight
Why Asia’s iGaming operators must rethink risk strategy | SEON
Winning Trust, Stopping Fraud. Asia Pacific’s iGaming market is expanding extremely fast, and a new wave of digital-savvy players is pushing demand through the roof. But the rise in adoption has outpaced regulation in many markets, and fraudsters have taken notice.
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INTELLIGENCE | ASEAN | CAREERS
