MANILA, Philippines – The Bureau of Internal Revenue (BIR) lifted its closure order against Great Empire Gaming and Amusement Corporation (GEGAC) just days after being shut down for being unable to pay the right taxes.
In an issuance dated September 27 but made available to media on Tuesday, October 1, the BIR said GEGAC was able to comply with the requirements under the National Internal Revenue Code and can now operate in the Subic Bay Freeport Zone, Aseana City in Parañaque City, and Eastwood Plaza in Quezon City.
BIR Commissioner Caesar Dulay said the tax assessment was estimated at P1.3 billion.
GEGAC, which resumed operations on Monday, September 30, offered to pay P250 million initially and will settle the remaining balance in 3 months through postdated checks.
The gambling firm was also required to update withholding tax payments and register its employees with the bureau. (WATCH: EXPLAINER: How online casinos hit the jackpot in the Philippines)
GEGAC is among the Philippine offshore gaming operators in the country, which have since raked in billions of pesos despite China calling for President Rodrigo Duterte to stop the industry. – Rappler.com