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The source explained that such firms will now be obliged to pay a 5% tax on turnover rather than the previous 2% duty on revenues with state-determined exchange rates utilized to calculate the local equivalent of any amount owed in a foreign currency.”Considerable competition:For its part and iGamingBusiness.According to a report from Inside Asian Gaming, the Isle of Man-based company detailed that the rise comes after the government of President Rodrigo Duterte passed legislation last month that is to more than double the domestic tax rate for online gambling operators holding a Philippine Offshore Gaming Operator (POGO) license....

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Casinos in the state are required to have a physical presence to operate online gaming services.Strong Market PositionPlayLive! first launched in August, becoming the first online gaming site approved to go live before the associated physical venue is open. The source detailed that the Tolerance Policy directives are to additionally limit local play to those over the age of 21 and prohibit such punters from losing more than 20% of their maximum spend....

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