Question & AnswerQ&A (Republic Act No. 8298)
The Metro Manila Turf Club, Inc., a corporation duly organized and existing under the laws of the Republic of the Philippines, is granted the franchise.
The franchise is granted for a period of twenty-five (25) years from the effectivity of the Act.
The club is authorized to construct, operate, and maintain one racetrack in the City of Kalookan or anywhere within the provinces of Batangas, Cavite, Laguna, and Rizal.
The franchise grants the right to hold or conduct horse races with betting on the results of the races either directly or by means of any mechanical, electrical, and/or computerized totalizator.
The franchise allows for the establishment of branches for booking purposes.
The franchise tax is equal to twenty-five percent (25%) of the grantee's gross earnings, which corresponds to the commissions/fees earned from total wager funds.
The franchise tax is allocated as follows: 3% to the national government; 5% to the City of Kalookan or the city/municipality where the racetrack is located; 5% to public health workers under the Magna Carta for Public Health Workers; 3% to the cardiovascular program of the Department of Health; 5% to the Philippine Anti-Tuberculosis Society; 2% to the White Cross; and 2% to the Water For Life program of the Department of Health.
The grantee is expressly exempted from any and all taxes, except income tax, levied or collected by any authority on its properties, whether real or personal.
The franchise tax must be paid monthly.
This Act took effect within fifteen (15) days after its publication in a newspaper of general circulation in Metro Manila.
The Act lapsed into law without the President's signature in accordance with Article VI, Section 27 (1) of the 1987 Constitution.
The grantee is authorized to do and carry out all such acts, deeds, and things as may be necessary to give effect to the franchise including operation, conduct of races, and establishment of branches.