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Bureau of Internal Revenue. FILE PHOTO
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 to carry a 20-percent final withholding tax, computed based on the full amount of the prize before any deductions for fees, commissions or other charges.
READ: BIR beats April revenue target amid delayed income tax returns
