Bill on LGU’s take from gaming OK’d
CONGRESSMEN on Wednesday approved on second reading a bill that seeks to allocate 2% of the franchise tax collected from gaming operators licensed or operated by the Philippine Amusement and Gaming Corp. (PAGCOR) to its host local government unit (LGU).
Through voice voting at the plenary, lawmakers approved House Bill No. 9874, an amendment to Presidential Decree No. 1869, for the allocation of 2% of the 5% franchise tax collected from a PAGCOR-licensed gaming operator to the LGU where its operations are located. The remaining 3% would be given to the National Government.
“There is a necessity for a measure to be passed by the Congress to fix the host city shares to bolster PAGCOR’s commitment to nation building,” Parañaque City Rep. Edwin L. Olivarez said in his sponsorship speech.
Under the present setup, PAGCOR’s board of directors determines the amount of shares given to LGUs hosting licensed or operated gaming operations.
“The share in PAGCOR’s earnings is likewise limited to cities where PAGCOR conducts its gaming operations through Casino Filipino. Cities where casinos are being operated by franchisees, nonetheless, were not given host shares,” Mr. Olivarez said in an earlier version of the bill.
PAGCOR expects P336.38 billion worth of gross gaming revenues this year, chairman and chief executive officer Alejandro H. Tengco said in January. — Beatriz Marie D. Cruz