Philippines files tax evasion charges against lotto firm
This is the first tax evasion case under the Duterte administration.
Named in the complaint were Benedicto Bulatao and Rolando Montecillo, former presidents of Batangas Enhanced Technology Systems Inc. (BETSI), including its treasurer Jessie Cantos.
BETSI, with outlet in San Antonio, Santo Tomas town, is an authorized agent of the Philippine Charity Sweepstakes Office (PCSO) and engaged in STL business through the sale and distribution of lottery tickets and those for other games of chance.
The complaint was filed before Justice Undersecretary Antonio Kho Jr.
In filing the case, the BIR alleged that BETSI has “substantially underdeclared its correct taxable income” by P3.61 million, P10.66 million, P14.05 million, P25.54 million, P52.03 million, P45.73 million, P28.38 million, P58.75 million and P128.38 million from 2007 up to 2015.
All together, BETSI incurred a total income tax liability of P199.02 million; value-added tax amounting to P136.55 million; and documentary stamp tax of P624.39 million.
“As a consequence of its acts and omissions, BETSI, together with its responsible corporate officers, was held liable to pay an estimated aggregate tax liability in the total amount of P959.96 million, inclusive of surcharges and interests,” the BIR said.
Evolution opens Cebu studio for regulated Philippine iGaming market
Vietnam approves $2 billion casino resort in Van Don amid evolving gaming policy
City of Dreams Sri Lanka to open on Aug. 2 with casino, luxury hotel and retail complex
Stretch Network unveils €1.3 million Summer Poker League
Zitro announces company-wide global corporate sustainability framework
3 Oaks Gaming expands Hold & Win slot collection with 777 Fruity Coins launch
Rivalry reports lower net loss at $16.52 million in 2024 amid strategic overhaul
Gaming in Germany Conference set for November 11 edition in Berlin
SBC Summit adds Global and Emerging Markets stages to meet expanding international interest
SiGMA to hold La Dolce Vita Night event in Rome ahead of Central Europe Summit
