Pagcor License Fees
It will also put at risk the license fee being collected by Pagcor,” he added. But he said POGOs were engaged in gambling and should follow the same rules for other gambling establishments. Pagcor and the four casino licensees said they signed an agreement reducing license fees, as a percentage of gross gaming revenues, by 10 per cent starting beginning 1, 2014. All those involved said that the agreement was ‘a mutually beneficial and practical solution to address the additional exposure to corporate income tax brought about. Note: The license number shall be printed on the company ID issued by the employer. The employer shall pay PAGCOR the application fee on behalf of its employees. Subsidy by the company or payment by the employer shall be an internal company policy. PROCESSING OF GAMING EMPLOYMENT LICENSE (GEL) RENEWAL APPLICATION Step 1. Betting operators that obtain a license will be subject to a 1.5% tax rate on gross gaming revenue, with funds to be paid to PAGCOR on a monthly basis. Gambling companies licensed in the Philippines may qualify for a special tax rate of 5% on gross revenue rather than national and local taxes. PAGCOR warns the public and Facebook against illegal gambling. The Philippine Amusement and Gaming Corporation (PAGCOR) warned the public against certain persons who have been organizing illegal Bingo games and internet/ online gambling and using Facebook to.
Pagcor License Fees Application
The Philippines Gambling Commission, aka PAGCOR, was created through a Presidential Decree and it is controlled and owned by the government. For right now, they are the third biggest money maker for the Philippines government. They think that by the year 2021, they will be able to lead the Philippines to be the top gaming and entertainment location for the region of ASEAN. In doing this, they will have a lot of revenue coming in that will help to fund the nation-building programs. They do have a solid goal set for themselves, and their mission is pretty simple to understand. They have the desire to make an environment which will help to grow the industry of gaming and entertainment; they also want to create and uphold mandatory frame-work that will help in keeping the integrity of this industry good. There are a lot of companies that are just looking to make money for their good out there, businesses like this one are outstanding because casino operators know that the PAGCOR has more than money, they also have the trust of the government.
3/F PAGCOR House, 1330 Roxas Boulevard
Ermita, Manila 1000
Telephone: +632-521-1542 loc. 376
Email: [email protected] ; [email protected]
Website: www.pagcor.ph
Benefits of Having an Online Gambling License in the Philippines
There are a lot of good reasons to get a gambling license from the Philippines Gambling Commission, such as:
An online gambling license will allow the holder of the license to operate in the permitted countries.
The license will help to protect the business that the license is issued to.
The reputation of the business will be significant because a business without a license is not a very trustworthy business at all!
The business will have the ability to develop more as far as online games are concerned.
The money used to get the license will help the government of the Philippines.
Types of Licenses Offered by The Philippines Gambling Commission
There are only a few licenses that are offered by the Philippines Gambling Commission (The PAGCOR). Here are the licenses that they offer, along with some of the fees associated with them:
Offshore Gaming License
Application and PROCESSING FEES
(Onetime fee)
e-Casino:USD 50,000.00
Sports Betting:USD 40,000.00
2. Offshore Gaming Agent Accreditation
Application and PROCESSING FEES
(Onetime fee)
USD 20,000.00
3. Gaming Software/Platform Provider Registration
Application and PROCESSING FEES
(Onetime fee)
USD 20,000.00
4. Gaming Support Provider Registration
Application and PROCESSING FEES
(Onetime fee)
USD 20,000.00
5. Data Streaming/Content Provider
Application and PROCESSING FEES
(Onetime fee)
USD 40,000.00
6. BPO
Application and PROCESSING FEES
(Onetime fee)
USD 50,000.00
The History of The Philippines Gambling Commission (The PAGCOR)
After the Philippines Gambling Commission (The PAGCOR) had first been established, they made a contract with the PCOC so that the PCOC would be able to operate their casino during the year of 1977 and it was in Manila Bay. Although that casino taught the gambling commission a lesson and from then on, they would only license the land casinos (the lesson being that the boat caught fire). During the year of 1983, the decree was set in motion that would make it so that the PAGCOR would have to contribute as the governing corporation that would conduct and establish all gaming pools and also casinos that were located within the country. During the year of 1986, however, the business changed the direction they were going and became an organization to help the government with money.
Conclusion
The Philippines Gambling Commission (The PAGCOR) is a trustworthy business that is just trying to help the government so that the country can be promoted more. Online casinos that are looking to get a license to operate their casino should undoubtedly check out the PAGCOR. Gambling commissions are significant to casinos, so are licenses. With the proper license, a casino operator will gain a better reputation, and they will get more customers coming to and from their site. The licenses are also suitable for those that are looking not just to help their reputation, but also will help a casino get the access that they need to operate in specific countries. So far, they have not been unfair to any business, and they only have good reviews online, meaning that they are safe and able to be trusted by casino operators that are looking to expand their business.
Pagcor License Fees Waiver
Despite higher gaming income, state-run Philippine Amusement and Gaming Corporation (Pagcor) said its revenues fell last year due to lower license fees.
In its financial statement posted on its website, Pagcor's revenues dropped 1.3% to P39.99 billion last year, way below the P45.47 billion target for the year.
Its gaming income, which accounts for more than half of its annual revenues, rose 8.5 percent to P29.93 billion last year. Meanwhile, its other related services, including license fees, declined 28 percent year-on-year to P8.56 billion.
In May last year, Pagcor temporarily lowered the license fees to be paid by gambling casinos at Entertainment City in Paranaque after the Bureau of Internal Revenue (BIR) slapped a 30-percent income tax on gambling casinos.
Pagcor's license fees were reduced to 5 percent from 15 percent of gross gaming revenues from high roller tables as well as junket operations and 15 percent from 25 percent on gross gaming revenues from non-high roller tables, slot machines and electronic gaming machines.
Meanwhile, Pagcor is expected to raise additional revenues this year after the Supreme Court ruled in February that its income derived from gaming are exempted from corporate income tax.
Pagcor License Fees
Maricar L. Bautista, Pagcor assistant vice-president for Corporate Communications, said the high court's decision only affirmed their position that the imposition of 30 percent corporate income tax on gaming revenues is illegal.
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