Quezon city: The Court of Tax Appeals (CTA) has mandated an online gaming company to remit more than PHP30 million in deficient value-added tax, which has accrued since 2019.

According to Philippines News Agency, the tax court's Special Second Division, in a 24-page decision dated July 28, instructed I-Cyberworld Biz, an online gaming firm located in Kamuning, Quezon City, to settle PHP30.7 million. The CTA has empowered the Bureau of Internal Revenue to seize any of the firm's assets necessary to cover the tax obligation. Additionally, the firm is required to pay a delinquency interest of PHP10,094 per day, calculated from July 1, 2022, until the full payment is made.

The deficiency value-added tax arises from PHP138 million in income derived from operators' shares in gaming revenues. I-Cyberworld Biz is known for its e-bingo operations across various locations.