BUREAU OF INTERNAL REVENUE
The Bureau of Internal Revenue (BIR) issued Revenue Memorandum Circular (RMC) No. 81-2017, 16 August 2017, disseminating the full text of Republic Act (RA) No. 10927, entitled "An Act Designating Casinos as Covered Persons under RA No. 9160, otherwise known as the Anti-Money Laundering Act (AMLA) of 2001, as amended" to internal revenue officials.
RA No. 10927 amended Section 3(a)(8) to include as covered persons "casinos" with "casino cash transactions" related to its gaming operations or games of chance. Casino is defined as a business authorized by the appropriate government authority, including internet-based, ship-based and casinos on land.
RA No. 10927 also amended Section (3)b to limit covered transactions for casinos to a single casino transaction involving an amount in excess of PHP Five Million Pesos (PHP5,000,000.00) or its equivalent in any otherr currency.
The law also amended Section 10 on the rules for freeze orders as follows:
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