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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 iGfree slot games freeaming 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. no deposit bonus codes for rich palms casino gold coast casino events 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. 1 dollar free spins casino The source detailed that the revised structure has been designed to bring in more cash so as to help fill an estimated . thebes casino no deposit bonus 2022 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. raging bull casino instant play

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