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SC strikes down 5% POGO franchise tax

Business Mirror LogoBusiness Mirror1 mo ago

SC strikes down 5% POGO franchise tax - Business Mirror

Quick Summary:

THE Supreme Court has declared unconstitutional a provision in Republic Act No.11494 or the Bayanihan 2 Law and several revenue regulations issued by the Department of Finance (DOF) and the Bureau of Internal Revenue (BIR) imposing a 5-percent franchise tax on gross bets from gaming operations of the Philippine Offshore Gaming Operators (POGOs).

The post SC strikes down 5% POGO franchise tax first appeared on BusinessMirror.

However, the petitioners said a closer examination would show that Sections 11 [f] and [g] of the Bayanihan 2 Law impose new taxes in the guise of merely listing sources of funding.


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Article Details

Author / Journalist: Joel R. San Juan

Category: EconomyStartups

Markets:

Topics:

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2022-09-29 @ 16:17:00 (1 months ago)

News Timezone: GMT +8:00

Ranking: #1045 (out of 3380 stories this day)

News Source URL: businessmirror.com.ph

Language: English

Article Length: 989 words

Reading Time: 6 minutes read

Sentences: 25 lines

Sentence Length: 40 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Business Mirror

News ID: 623021

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About Business Mirror

Business Mirror Logo

Main Topics: EconomyStartups

Official Website: businessmirror.com.ph

Update Frequency: 75 posts per day

Year Established: 2005

Headquarters: Philippines

News Last Updated: 8 hours ago

Coverage Areas: Philippines

Ownership: Independent Company

Publication Timezone: GMT +8:00

Content Availability: Local / Regional

News Language: English

RSS Feed: Available (XML)

API Access: Available (JSON, REST)

Website Security: Secure (HTTPS)

Publisher ID: #37

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The story "SC strikes down 5% POGO franchise tax" was covered 1 months ago by Business Mirror, a news publisher based in Philippines.

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It's most recent story was published 8 hours ago.

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  • URL: https://beamstart.com/news/sc-strikes-down-5-pogo-16644698979340

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