go through Chloe Mari A. Hufana and Adrian H. Halili, reporter
Philippine President Ferdinand R. Marcos (Jr.) is willing to tax online gaming activities and a proposal to seek restrictions on digital gambling to curb the harm caused by addiction, the Palace said Monday.
Palace Press Officer Clarissa A. Castro told Filipino journalists at a press conference. “The president is aware of the consequences of gambling addiction and he will not object to the proposal as long as he is supported by research.”
“We want to limit this kind of gambling and gambling that is addicted to it. The president will not object to proposals including laws designed to do so… We will look at any bills passed by Congress to assess their impact on the economy and the welfare of the Philippines.”
Finance Minister Ralph G. Recto said last week they would propose online Gaming tax, other policy options are also being studied “to prevent unhindered, and in fact unrestricted access to digital gambling platforms.”
This includes imposing restrictions on playing time or cashing to prevent addiction, age restrictions and clear warnings about gambling risks, Mr Recto said.
Ms. Castro said the government is also stepping up its crackdown on unlicensed and illegal online gaming sites.
Oikonomia Advisory and Research, Inc. Reinielle Matt M. Erece, an economist, said the DOF’s tax proposal is a “good way to increase government revenue.”
“The (online gambling) industry is growing rapidly,” he said in a Viber message. “It is difficult to answer whether it curbs gambling addiction because it requires proper intervention and plans to promote responsible gaming.”
He added that online gaming tax could be a barrier for new players while helping the government fund its programs.
Several lawmakers have introduced bills to curb online gambling in an attempt to curb popularization among Filipinos.
On Monday, Senator Juan Miguel F.
“The taxes paid are not worth the social cost. The lives of our fellow citizens are destroyed, families are fighting, crime is rising, and they are in debt.”
Senate Bill 142 or the Anti-Line Gambling Act attempts to ban online gambling mobile gambling. Internet service providers are also required to restrict public access to online gambling platforms and applications.
It also attempts to ban e-wallets and other digital payment systems from being used on online gaming platforms.
The Akbayan Party List also filed a bill to the House of Representatives that aims to regulate online gaming websites.
“We cannot bet on the future of our young people. Our children cannot be collateral in the gambling tycoon’s jackpot,” party-listed Rep. Jose Manuel Manuel Manuel Diokno said in a statement.
House Bill 1351 or Kontra Electronic Sugar Act is intended to impose regulations on online gambling platforms, citing the need to maintain public welfare, protect vulnerable groups and ensure responsible gambling practices.
The bill hopes to implement strict age verification protocols to prevent minors from accessing these platforms And limit the advertising and promotion of digital games. It also attempts to impose bets and loss restrictions.
Philippine entertainment and bookmakers said earlier that overall gaming revenue (GGR) in the first quarter rose 27.44% to pesos 110.12 billion in the first quarter. Electronics companies generated 51.39 billion or 49.36% GGR during this period.
