BIR says jackpot prizes subject to tax

MANILA, Philippines – The Bureau of Internal Revenue (BIR) has issued a clarification saying that jackpot prizes from casinos and other gambling activities remain subject to withholding tax, amid growing questions over the tax treatment of high-value gaming payouts. Under Revenue Memorandum Circular No. 57-2026, the BIR said jackpot winnings received by individuals will continue […]... Keep on reading: BIR says jackpot prizes subject to tax

Original source: Philippine Daily Inquirer