The Philippine Department of Finance (DOF) is reviewing plans for a General Tax Amnesty program alongside new regulations targeting the online gambling industry, according to Finance Secretary Ralph Recto. Speaking during the 2025 EJAP Economic Forum in Manila, Recto explained that while no fresh tax proposals have been introduced, several refined fiscal measures are awaiting approval, with the amnesty and gambling measures among the key considerations. Recto emphasized that this initiative would differ from the earlier bill passed by Congress but vetoed in 2019, which was rejected partly due to the absence of a bank secrecy waiver for cases involving fraud. The proposed General Tax Amnesty, he said, is intended to pass before year-end, pending review and approval from President Ferdinand Marcos Jr. or the Cabinet. “But we’ll have to have it approved yet with the President or in the Cabinet,” Recto noted. Increased Regulation on Online Gambling The Finance…Â Read More
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Source: Casino News Daily
