House OKs tax on online cockfights, derbies
The House of Representatives on Tuesday approved on third and final reading a bill that would tax online locally licensed cockfights and derbies. Voting 215-1-0, the House approved House Bill No. 8065, proposed by Albay 2nd District Rep. Joey Salceda, which would amend Section 125 of the National Internal Revenue Code of 1997. The bill imposes a 5-percent tax on gross revenues derived from off-site betting on locally licensed cockfights and derbies. The tax, however, should not be in lieu of taxes required by the local governments and regulatory fees and charges imposed by government agencies. —Nestor Corrales
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