BIR<\/em><\/strong>\u2019s guidelines\u00a0warn that failure\u00a0to pay will result in the closure of gaming operations and filing of tax evasion charges.<\/p>\n\n\n\nThe guidelines signed by Finance Secretary Carlos Dominguez III state that income from the franchise tax will be destined to Covid-19 relief efforts. One the pandemic is over, income will go to the government’s general fund.<\/p>\n\n\n\n
The BIR has also instructed PAGCOR<\/em><\/strong> to\u00a0submit monthly franchise tax collection reports as well as reports on the number of workers employed by industry, the Manila Bulletin reported.\u00a0<\/p>\n","protected":false},"excerpt":{"rendered":"PAGCOR will have to submit monthly reports on franchise tax collection and the number of workers employed by industry. <\/p>\n","protected":false},"author":2,"featured_media":11424,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"is_press_release":false,"is_interview":false,"is_opinion":false,"focusai_summary":"The Philippine Bureau of Internal Revenue (BIR) has issued new guidelines for Philippine Offshore Gaming Operators (POGOs), mandating a 5% franchise tax on gross bets or minimum guarantee fee, whichever is higher, calculated in Philippine Pesos. This tax is incremental to existing income and VAT obligations for non-gaming operations, with non-compliance leading to operational closure and tax evasion charges. PAGCOR is now required to submit monthly reports on tax collection and industry employment, with revenues initially earmarked for COVID-19 relief.","focusai_entities":"PAGCOR, Bureau of Internal Revenue (BIR), Carlos Dominguez III","focusai_location":"Philippines","focusai_target_profile":"ceo_executive (0.9), regulator (0.95), compliance_legal (0.95), operator_casino (1.0), affiliate_publisher (0.7), investor_analyst (0.9), supplier_vendor (0.75), journalist_researcher (0.9)","focusai_suggestions":[{"label":"POGO NGR Impact?","query":"What is the projected impact of this new franchise tax on the net gaming revenue (NGR) margins and overall profitability of POGOs operating in the Philippines?"},{"label":"Regulatory Enforcement?","query":"What specific enforcement mechanisms will the BIR implement to ensure POGO compliance with the new tax guidelines, particularly concerning the threat of operational closure and tax evasion charges?"}],"footnotes":""},"categories":[161,156,158,16333],"tags":[405,15789],"class_list":["post-11422","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-daily-news","category-regulation-news","category-slider-home","category-south-east-asia-news","tag-pagcor","tag-pogos"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/11422","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/comments?post=11422"}],"version-history":[{"count":3,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/11422\/revisions"}],"predecessor-version":[{"id":777008657,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/11422\/revisions\/777008657"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/11424"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=11422"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=11422"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=11422"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}