RMC No. 81-2017 — Publishes 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 of 2001", as Amended"

REPUBLIC OF THE PHILIPPINES

BUREAU OF INTERNAL REVENUE DEPARTMENT OF FINANCE

IDD Quezon City

August 16, 2017

REVENUE MEMORANDUM CIRCULAR NO._ 8 /- 2 O/7

SUBJECT: Publishing the Full Text of Republic Act No. 10927, Entitled "AN ACT DESIGNATING CASINOS AS COVERED PERSONS UNDER REPUBLIC ACT NO. 9160, OTHERWISE KNOWN AS THE "ANTI- MONEY LAUNDERING ACT OF 2001", AS AMENDED"

TO : All Internal Revenue Officials, Employees and Others Concerned

10927, entitled "An Act Designating Casinos As Covered Persons Under Republic Act No. 9160, Otherwise Known As The "Anti-Money Laundering Act Of 2001", As concerned, attached is the letter from Atty. Concepcion Zeny E. Ferrolino-Enad Director Ill of Malacanang Records Office and the certified copy of Republic Act No Amended." For the information and guidance of all internal revenue officials and others

Circular a wide publicity as possible. All concerned are hereby enjoined to be guided accordingly and give this

leu,amy

O-5 Commissioner of Internal Revenue CAeSAR R. DULAY 0 09 4 12

BUREAU OF INTERNAL REVENTE RECORDS MGT. DIVISION 11:28A.M

SEP 27 2017 LMa

RECEIVED

DU UseC:,Asa. cihnds W Oftice at the 3presinent of the Philippines Mlalatanang DEPARTMENT OF FINANCE Rapubllo of the Philippinas

Atiscie7Ag Lna

MALACANANG RECORDS OFFICE

Manila, July 18, 2017

Sir: SECRETARY CARLOS G. DOMINGUEZ III Department of Finance Manila BUREAU OF JNTERNAL REVENTE RECCROS MGE. FKTCCN RECEIVED SEP 27 2017 11:28A.M UMMaA

a certified copy of Republic Act No. 10927 which was approved on Ju!y 14, MONEY LAUNDERING ACT OF 2001" AS AMENDED." 2017 entitIed "AN ACT DESIGNATING CASINOS AS COVERED PERSONS UNDER REPUBLIC ACT NO. 9160, OTHERWISE KNOWN AS THE "ANTI- I have the honor to transmit for your information and guidance,

Thank you.

Very truly yours,

Burt at O! TERNAL REVENU

DC.ENNT

. AttY. ConcePcIot Director IlI Y e. FerrolIno-enad

OFFICE OF IHL COMMISSIONE+.

DePt. oF Finance r DETARTMENTOFFINANCE

OFFICE OF THE SECRETARY 9 JUL 2017 OTCA MWS. 9:39av JUi. 1 8 2017 Muk

CENTRAL HECORIS IHGNT I D)v

M-128 Mabini Hall, Malacanang, Maniia Trunkline 784-4286 loc. 4029/ 4123/ 4153

S. No. 1468 H. No. 5663 Repith li nf fhe #hilippines 2 further amended to read as follows: SEC. 2. Section 3(b) of Republic Act No. 9160 is hereby

Hungrez% af the htlippines Hefru Mantla DUREAU OF INTERNAL REVENE RECORDS MGT. DIVISICN cash or other equivalent monetary_instrument involving a total amount in excess of Five hundred thousand pesos (P500,000.00) within one (1) banking "(b) Covered transaction' is a transaction in

Seienteenth dungress SEP 27 2017 1: 28AIM in excess of Five million pesos (P5,000,000.00) or its day; for covered persons under Section 3(a)(8), a single casino cash transaction involving an amount equivalent in any other currency.

Begun and held in Metro Manila, on Monday, the twenty-fifth Jfirst Regular Sessiun RECEIVEM is hereby further amended by inserting a new paragraph (l) to read as follows: SEC. 3. Section 3 of Republic Act No. 9160, as amended

day of July, two thousand sixteen.

defined as follows: Section 3(a)(8), the following terms are hereby "(l) For purposes of covered persons under

[REPUBLIC ACT No. 1092?] the appropriate government agency to engage in gaming operations: "(1) Casino' refers to a business authorized by

AN ACT DESIGNATING CASINOS AS LAUNDERING ACT OF 2001', AS AMENDED PERSONS UNDER REPUBLIC ACT NO..9160 OTHERWISE KNOWN AS THE "ANTI-MONEY COVERET communication facilities such as, but not limited to, internet, telephone, television, radio or any other in which persons participate by the use of remote communication; and kind of electronic or other technology for facilitating] "(i) Internet-based casino' shall refer to casinos

Be it enacted :by the Senate and House of Representatives of the Philippines in Congress assembled: SECTION 1. Section 3(a) of Republic Act No. 9160, as the operation of which is undertaken on board a vessel, wholly or partly intended for gambling; "(ii) "Ship-based casino' shall refer to casinos, ship, boat or any other water-based craft

amended, is hereby further amended to read as follows: to: "(a) 'Covered persons', natural or juridical, refer paid by or on behalf of a customer; or transactions .involving the payout of cash by a casino to a customer transactions involving the receipt of cash by a casino] or to any person in his/her behalf; and "(2) Casino cash transaction'. refers to

transactions related to their gaming operations. casinos, "(8) casinos, including internet and ship-based x x with respect to their casino cash of the casino offering games of chance and any variations thereof approved by the appropriate government authority. "(3) Gaming operations' refer to the activities

3 4

is hereby further, amended to read as follows: -a summary hearing,"with notice to the parties, to pending cases in the courts. In any case, the court SEC. 4. Section 10 of Republic Act No. 9160, as amended, exists. that any monetary instrument or property is in Section 3(i) hereof, the Court of Appeals may issue further, That this new rule'shall not -apply to day, the computation of the twenty-four (24)-hour period shall exclude the nonworking days. in any-way related to.an unlawful activity as defined a freeze order which shall be effective immediately, determine whether or not to modify or lift the freeze this provision shall not'exceed six (6) months. This is: withouti-prejudice to an asset preservation order forfeiture case may issue on the same account depending upon the circunstances of the.case, where records: Provided, against a person whose account has been frozen within the period determined.hy the Court of order shall be deemed ipso-facto lifted: Provided, should twenty-four (24) hours from filing of the petition. If the application isfiled a day before a nonworking Property. AMLC and after.determination that probable cause for a period of.twenty (20) days. (20)-day period, the Court of Appeals shall conduct order, or extend its effectivity. the freeze.order issued by the Court of Appeals under that the Regional. Trial Court having jurisdiction over the appropriate anti-money laundering case or civil the Court of Appeals will remand the case and its Appeals, "SEC. 10..Freezing of Monetary Instrument or act on the petition not exceeding six (6) months, the- freeze ..Upon a verified ex parte petition by the That if there is no case filed to' freeze within Within the twenty The total period of amended by inserting a new paragraph to read as follows: provisions of this Act, are hereby repealed, amended or modified validity and effectivity of other provisions hereof. issuances or portions thereof, which are inconsistent with the accordingly. in any newspaper of general circulation. Act is declared unconstitutional, the same shall not affect the (15) days following its publication in the Official Gazette or SEC. 5. Section 18 of Republic Act No: 9160 is hereby government regulatory`agencies shall jointly covered institutions. applicable to other covered institutions shall not apply to casinos unless it_is expressly so provided under the rules and regulations to implement the provisions of this Act." SEC. 6. Separability Clause. - SEc. 7. Repealing Clause. -- All laws, decrees, orders, and this Act, the AMLC, the Philippine Amusement and Gaming promulgate the rules and regulations to implement the provisions of this Act as applicable to casinos as SEC. 8. Effectiuity. -- This Act shall take effect fifteen "SEC. 18. Implementing Rules and Regulations. "Within ninety (90) days from the effectivity of X X 'x x Corporation The implementing rules (PAGCOR) -- If any provision of this and other C

-amount of cash or honetary instruiment or yalue of .and the freeze order or asset preservation order shall predicate offense. not apply to`amounts in the same account in excess property that the court finds there is probable cause to be considered as'proceeds of a predicate offense issued under.this Act shall be limited only to the of the:amount or value of the proceeds of the "The freeze order or asset preservation order RECORDS MGT. DIVISION BUREAU OF INTERNAL REVEN'E RECUIVEO SEP 27 2 1:23 2017 A.M U Ma. PANTALEON D. Speaker of the Approved of Represe 10 use F AQUILINO "KOKO" PIMENTEL II President of the Senate s 1

on May 30, 2017, was adopted as-an amendment to House Bill No. 5663 by the House of Representatives on May 30, 2017. Senate Bill No.1468, which was approved by the Senate

House of Representatives CESAR Secretary General STRAT PAREJA LUTGARDO B. BARBO Secretary of the Senate

Approved: :JUL 1 4 2017 BUREAU OF INTERNAL REVENTE RECORDS MGT. DIVISION

SEP 27 20i7 11:28A.M

RODRIG1 ROA DUTERTE r3ic RECEIVEI

President of the Philippines

t.. C OF TT PIIPP 0

2016