Pagcor remittances to national treasury down 9%


Posted at Oct 29 2010 04:38 PM | Updated as of Oct 30 2010 07:44 AM

MANILA, Philippines - State-owned casino regulator Philippine Amusement and Gaming Corporation (Pagcor) has remitted P7.713 billion to the national treasury in the first 9 months of the year.

This amount is 9% lower than the P8.479 billion Pagcor remitted in the same period in 2009, according to the data from the Bureau of Treasury.

Pagcor is mandated to remit 5% of its net winnings to the Bureau of Internal Revenue as franchise tax. Half of the 95% balance is remitted to the national treasury.