COA to audit Pagcor

A BILL requiring that all the funds and transactions of the Philippine Amusement and Gaming Corporation (PAGCOR), including its revenues, income and expenditures be examined by the Commission on Audit (COA) was recently approved on third and final reading by the House of Representatives.

Rep. Hermilando Mandanas (2nd District, Batangas) said House Bill 5605, which he authored, seeks to amend Presidential Decree No. 1869 issued by the late President Ferdinand Marcos, which limits the audit jurisdiction of COA namely to five percent of Pagcor’s franchise tax and 50 percent of the gross earnings pertaining to the government’s share.
“The continuing tax exemption of Pagcor up to the present time is anachronistic to the 1987 Constitution,” Mandanas said.

“Pagcor seems to be the only entity that defies the provisions of the Constitution,” he said.

He said the 1987 Constitution is paramount and superior to any law that preceded it.

“The existing exemption of PAGCOR from COA audit jurisdiction should be revoked, and its transactions and funds, incomes and expenditures, should now henceforth subject to COA’s audit jurisdiction,” Mandanas said. Fidel Gumawid


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