(Bloomberg) -- Philippine President Rodrigo Duterte has signed a law taxing online casinos which cater mostly to Chinese clients, spokesman Harry Roque said at televised briefing Thursday.
Tax collections will be used for universal healthcare and to develop medical facilities, Roque said, adding that law is part of government's efforts to regulate all forms of gambling.
Philippines Loses Half of Its Online Casino Operators: PAGCOR
Under the Senate version of bill, which Duterte designated as “urgent,” offshore gaming operators must pay 5% tax on their gross gaming revenue, while foreigners employed in online casinos and their service providers are required to pay 25% income tax.
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