The Philippine government will soon impose taxes on online platforms of cockfights and derbies, through House Bill No. 8065.
House Bill No. 8065 seeks to amend Section 125 of the National Internal Revenue Code of 1997. It clarifies that the government will collect Amusement Taxes, which is 5% of the gross revenues, from the proprietor, lessee and operator of cockpits, including operators of online platforms and offsite betting stations for such cockpits.
In a report by PhilStar, some members of congress expressed that the bill will help revive the country's pandemic-hit economy.
El representante Joey Salceda dijo que se espera recaudar al menos PHP 1.25 mil millones en su primer año completo de implementación. La representante Sharon Garin, por su parte, dijo que “conducirá a infraestructura adicional, mejores servicios sociales y una cobertura de salud indigente más amplia para los filipinos”.
On December 15, 2020, the House of Representatives approved on final reading House Bill No. 8065, with 215 affirmative votes, one negative vote, and no abstention.
fuentes: Congress.gov.ph, PNA.gov, PhilStar
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