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Serious sanctions:This new franchise tax is to be applied to the higher of either a local iGaming operator’s monthly gross turnover or a pre-arranged revenue minimum. The source detailed that the revised structure has been designed to bring in more cash so as to help fill an estimated . 4 billion shortfall in the Asian nation’s coronavirus relief fund and moreover lays out penalties that could eventually see non-compliant firms unceremoniously stripped of their POGO licenses. Community care:Philippines Senator Franklin Drilon reportedly used an interview with local radio broadcaster DWIZ to assert that the new measure is destined to take this year’s tax contribution from POGO license holders up to approximately 1. 2 million with the extra cash earmarked for use ‘to fund the various types of assistance’ for sectors recently impacted by the coronavirus pandemic. best crypto casino 2022 Current crackdown:The Philippines last month reportedly allowed only 29 of 60 firms that had previously held a POGO license to re-open following the lifting of a nationwide coronavirus-induced lockdown.

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