The Chairman of the Philippine gaming regulator (PAGCOR) says that there is still a possibility for taxation rates to be lowered, potentially for both the online and land-based sectors, depending on how they perform.
Speaking to AGB, Alejandro H. Tengco noted that the current rates for the online sector would be reduced to 30 percent by January 1st of 2025.
He noted that, assuming we were at that date, “If I see that we have stabilized and that the acceptance of these rates have already proven that that should be the rate, then I will not touch it anymore. However, if I see that I can still propel it to further growth and to numbers not seen before, I will not stop myself from making that decision to even bring it down further.”
Current rates for land-based operators are at 25 percent, if they also are conducting online operations, but there’s a possibility for further reductions if the cards are right.
“I’m not favoring the integrated resort operators. I’m giving them a tax break to incentivize them to spend for infrastructure so that the customer can have a better online gaming experience. And that is their commitment and that is what they’re doing.”
Looking towards the online gaming operators, the head of the regulator notes that: “whether I will still continue to bring down the rates from 30 percent, let’s look at 2025.
