Philippines state-run gaming regulator will soon revoke the reduced license fees given to the four casinos in Entertainment City, according to the Manila Bulletin.
Philippine Amusement and Gaming Corp chairperson Andrea Domingo said the Commission on Audit had already warned Pagcor about the imposition of special rates for some casinos, which costs the government billions in tax income.
Domingo said the original rates will be reinstated “as soon as we can.”
However the Pagcor chief also added that the cancelation of the lowered fees will require approval from the new Pagcor board.
“Since that decision was decided by the previous board, my decision has to be ratified by the present board,” the Pagcor chief said.
The lowering of license fees came in May 2014, after the Bureau of Internal Revenue (BIR) brought a 30-percent income tax to gaming companies.
Before the reduction, Pagcor had originally proposed a 15 percent share from casinos’ gross gaming revenues from high roller tables and junket operations and 25 percent on gross gaming income from non-high roller tables, slot machines and electronic gaming machines.