Malaysia has opened its doors to online gaming companies and is offering generous incentives to firms that relocate, according to Philippine market regulator, the Philippine Amusement and Gaming Corp (PAGCOR).
In a memorandum of understanding sent by PAGCOR chair Andrea Domingo to the Office of the President, she claims that Malaysia is offering a 10-year tax moratorium on condition that at least 30 per cent of employees are Malays. The news was reported by the government-backed Philippine News Agency.
PAGCOR was writing to the government in relation to a five per cent franchise tax on gross gaming receipts. The memo follows recent departures of several online gaming firms from the Philippines due to the rising cost of doing business there.
Neither PAGCOR nor the Office of the President had responded to requests for comment at the time of going to press.
Source: Asia Gaming Brief
