The government-run PCSO renewed its request to Congress to cut by half the existing documentary stamp tax (DST) rate of 20 percent on the purchase of lottery tickets in order to raise more money for their medical assistance program (MAP). Know more:
THE government-run Philippine Charity Sweepstakes Office on Monday renewed its request to Congress to cut by half the existing documentary stamp tax rate of 20 percent on the purchase of lottery tickets in order to raise more money for their medical assistance program .
However, the PCSO briefing was quickly suspended after the presentation of its plans, programs, and strategies due to conflicting figures and data listed in the National Expenditure Program and its report to the lower chamber. The briefing was presided over by House Committee on Appropriations Senior Vice Chairperson Stella Luz Quimbo.
Following the enactment of the Tax Reform for Acceleration and Inclusion Law in December 2017, the DST rate was doubled to P0.20 from P0.10 per lotto ticket. “A reduction of 10 percent on DST would likewise increase our mandatory contributions as mandated by laws—assuming 10 percent—a total of P4.2 billion can be allotted by the agency to its mandatory contributions, of which P3.3 billion will be given to Universal Health Care,” she added.
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