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.
Rep. Joey Salceda said that it is expected to raise at least PHP 1.25 billion on its first full year of implementation. Rep. Sharon Garin, on the other hand, said that it “will lead to additional infrastructure, better social services and wider indigent health coverage for 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.
sources: Congress.gov.ph, PNA.gov, PhilStar
