The Court of Tax Appeals (CTA) has ordered an online gaming company to pay more than P30 million representing deficiency value-added tax dating back to 2019.
In a 24-page decision dated July 28, the tax court’s Special Second Division ordered I-Cyberworld Biz, an online gaming firm in Kamuning, Quezon City, to pay P30.7 million.
The CTA also authorized the Bureau of Internal Revenue to seize any of the firm’s assets in sufficient quantity to satisfy the tax and likewise directed the firm to pay delinquency interest of P10,094 per day computed from July 1, 2022, until actual payment.
The VAT covers P138 million in income received from operators’ shares from gaming revenues.
The company operates e-bingo operations in several areas. / PNA
