Tengco said PAGCOR's legal team was studying if the corporation can take a portion of the 50% of its income remitted to the national government as a contribution to the MIF.
“This is the 50% of our income remitted to the national treasury after paying the 5% franchise tax. Let's say PAGCOR's income reaches P10 billion, less five percent, that will be the base of the 50% [to be remitted to treasury],” Tengco said. Likewise, Tengco said PAGCOR was also looking at tapping its retained earnings in the bank for MIF investment since this was allowed under the PAGCOR charter.
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