Asia

Philippines Approves New 5% Tax on Gaming Revenues of POGOs

Published

5 years ago

November 20, 2019

Niji Narayan

Philippines Approves New 5% Tax on Gaming Revenues of POGOs

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The Philippines authorities have approved a new 5% tax on the gaming revenues of Philippine Offshore Gaming Operators (POGOs).

The House Committee on Ways and Means passed the measure which sees POGOs classified as resident corporations and therefore subject to an additional 5% franchise tax on top of current tax and fees.

PAGCOR currently collects a 2% franchise tax from licensed offshore operators, generating around Php8 billion in revenue each year, but the 5% tax is expected to push that figure to Php20 billion.

The new measure also allows for all foreign employees of POGOs earning Php600,000 (US$11,850) or more to be taxed 25% on their wages and other allowances, potentially pushing the government’s annual revenue from the POGO industry north of Php45 billion.

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Niji Narayan

Niji Narayan has been in the writing industry for well over a decade or so. He prides himself as one of the few survivors left in the world who have actually mastered the impossible art of copy editing. Niji graduated in Physics and obtained his Master’s degree in Communication and Journalism. He has always interested in sports writing and travel writing. He has written for numerous websites and his in-depth analytical articles top sports magazines like Cricket Today and Sports Today. He reports gaming industry headlines from all around the globe.