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In the Philippines and President Rodrigo Duterte (pictured) has reportedly signed a piece of legislation into law that has been designed to more than double the amount of tax collected from domestic holders of an offshore gaming license. According to a report from Inside Asian Gaming, the new Bayanihan to Recover as One Act is to require iGmonopoly slots diceaming firms possessing a Philippine Offshore Gaming Operator (POGO) license to pay a 5% tax on turnover rather than revenues with an official exchange rate utilized to calculate the local equivalent of any amount owed in foreign currencies. crown casino melbourne time zone 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. Play Blackjack 21 Online The source detailed that the revised structure has been designed to bring in more cash so as to help fill an estimated . cashman casino pc 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.

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