Supreme Court stops BIR from taxing casinos' gaming income

ABS-CBN News

Posted at Sep 06 2016 12:11 PM

MANILA - The Supreme Court has stopped the Bureau of Internal Revenue from imposing income tax on casinos' gaming operations, casino operator Bloomberry Resorts and Hotels Inc. said Tuesday.

Bloomberry, which filed a petition for certiorari against the BIR, said the ruling dated last August 10 was released only on Tuesday.

The high tribunal affirmed Bloomberry's argument that under its contract with the Philippine Amusement and Gaming Corp., the state gambling regulator, it was subject only to the 5-percent franchise tax on gross gaming revenue.

Bloomberry operates Solaire, one of four billion-dollar casinos in Entertainment City, a glittering Manila Bay strip that the country hopes will rival Las Vegas in terms of revenue.

Earlier this week, Pagcor chairman Andrea Domingo said regulators were set to restore higher license fees on casinos.