POGO tax payments rise 11.7% in 2020

POGO tax payments rise 11.7% in 2020

POGOs brought in US$149.4m in tax payments las year despite the impact of the Covid-19 pandemic and resulting departures of many firms.

Philippines.- Tax payments from Philippine offshore gaming operators (POGOs) increased by 11.71 per cent year-on-year in 2020.

Philstar reports that the Bureau of Internal Revenue’s (BIR) tax collection from POGOs reached Php7.18bn (US$149.4m) despite the POGOs exiting the country following the introduction of restrictions after the outbreak of the Covid-19 pandemic.

POGOs paid just Php2.36bn (US$49.1m) in 2018 and Php6.43bn (US$133.8m) in 2019.

According to data from the Philippine Amusement and Gaming Corporation (PAGCOR) there are currently 51 licenced operators in the Philippines. There were more than 60 before the pandemic.

Only 34 were allowed to resume operations to comply with Covid-19 prevention protocols.

Meanwhile, 131 local gaming agents and service providers have secured authority to resume operations.

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