The Philippines’ Court of Tax Appeals (CTA) has ordered the Philippine Amusement and Gaming Corporation (PAGCOR) to pay deficiency income tax of some PHP117 million ($2.1 million).
The figure relates to some PHP13.11 million ($235,500) and PHP104.9 million ($1.88 million) in deficiency income tax for 2005 and 2006, respectively.
The case had originally involved some PHP5.92 billion ($106.35 million) in deficiency income tax, value-added tax and fringe benefit tax (FBT) for the two-year period, however the Supreme Court partly granted a PAGCOR countersuit. This means that the gaming regulator is only liable for deficiency income tax on gaming operations and other activities and the FBT.
