|
PAGCOR in debt
 February 24, 2009, 8:52 am (2 years ago)Quezon City in the Philippines alleges that gambling group Philippines Amusement and Gaming Corporation (PAGCOR) needs to pay millions of pesos as franchise taxes. City executive Dr. Victor Endriga cited Section 13 (2) of Presidential Decree 1869, or the Pagcor Charter, inflicting a 3-% franchise tax on the firm and its associates for the business of online casinos in making the claim this week.
According to the Manila Standard Today newspaper, he claimed that Pagcor, together with PhilWeb Corp., the 1st listed Internet gaming company, have stayed unexamined for their total sales since they began online gambling in the city, and that cafй operators have not stated their earnings correctly.
“One operator had stated a P3-million net revenue against its real revenue of P93 million. Conversely, Pagcor thought PD 1869 as revised by PD 1993 and Executive Order 260 have excepted it from its obligation to pay franchise taxes,” he told Standard Today.
Endriga said Section 13 (2) stipulated that “municipal, provincial or national government” were not allowed to inflict taxes on any Pagcor gambling activities and other activities within its authority, but this did not be relevant to cities.
Automatic Translation
|
Comments (0)
