DoF eyes tax on online gaming

The Department of Finance (DoF) is proposing a tax on online gaming, as well as studying potential policies to curb unrestricted access to gambling, including digital gambling platforms.

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At the same time, the Bangko Sentral ng Pilipinas (BSP) is set to issue a circular that would require banks and e-wallets to protect their users from the growing risks of online gambling.

This comes as some lawmakers have filed measures seeking stricter regulation of online gambling amid reports of growing addiction among Filipinos.

Finance Secretary Ralph G. Recto told BusinessWorld in an email that the department is "cognizant of the concerns of Filipinos regarding online gambling."

"Given this, we are already studying and will propose an online gaming tax," he said, without giving details.

"We are also studying other potential policy options to deter unimpeded and practically unrestricted access to gambling, particularly digital gambling platforms."

Mr. Recto proposed implementing limits on playing time or cash-in to help prevent addiction, as well as displaying clear warnings about the risks of gambling. He also proposed a ban on government officials from participating in all types of gambling, including online gambling.

"However, a careful study must be done by regulatory authorities on the administrative feasibility of implementing these proposals, and other additional requirements that may be imposed to limit the potential harmful effects of gambling," he said.

Mr. Recto said the DoF supports "strong safeguards" to regulate all forms of gambling in the country.

"In particular, we strongly support restricting access to gambling facilities to those who are at least of legal age. PAGCOR (Philippine Amusement and Gaming Corp.) already prohibits minors and financially vulnerable individuals from entering gaming venues," he said.

Senator Sherwin T. Gatchalian earlier filed a bill that seeks to implement stricter regulations on online gambling, such as raising the minimum legal gambling age to 21 from 18, to protect young Filipinos from early exposure to online gambling.