The House Committee on Ways and Means has approved and endorsed for plenary debates and approval of a measure seeking to impose tax regime on offsite betting activities on locally licensed cockfighting activities and professional basketball games.
In less than one hour of virtual deliberations, the House panel decided to approve House Bill No. 7919, principally authored by committee chair Albay 2nd District Rep. Joey Sarte Salceda, subject to amendments and style.
Amusement taxes shall be collected from the proprietors, lessee, and operator of cockpits, including operators of online platforms for such cockpits, cabarets, night or day clubs, boxing exhibitions, professional basketball games, Jai-Alai, and racetracks.
“For offsite betting activities on local licensed cockfights and derbies, and other derivative activities, there shall be levied, assessed, and collected a tax equivalent to five percent based on gross receipts, which shall be directly remitted to the Bureau of Internal Revenue (BIR) and shall be in lieu of all other percentage taxes but shall not be in lieu of local government taxes and regulatory fees and charges applicable to such activities,” the bill provides.
During the hearing, officials of the Department of Finance (DoF), the Bureau of Internal Revenue (BIR) and Games and Amusements Board (GA) expressed support to Salceda’s measure, which seeks to amend the National Internal Revenue Code of 1997, as amended. (Charissa Luci-Atienza)
