Pagcor remits P890 M to gov’t in July
State-owned Philippine Amusement and Gaming Corporation (Pagcor) has remitted P890 million to the national government coffers in July this year.
Data from the Bureau of Treasury showed that the regulator of casino gaming in the country has remitted P32 million less last month compared with P922 million in the same month in 2009.
Under the law, Pagcor is required to remit 5 percent of its net winnings to the Bureau of Internal Revenue (BIR) as franchise tax, and 50 percent of the 95 percent balance goes to the Bureau of Treasury.
In January to July, government's share in Pagcor's income decreased by 7 percent to P5.93 billion from P6.4 billion in the same period last year.
To date, Pagcor is operating 13-branches and 25 exclusive clubs, open in major cities across the country.


