Bayanihan 2<\/a><\/em><\/strong>, POGOs now have to pay a 5 per cent tax on turnover as well as 15 per cent of the salaries of their foreign workers as income tax. They also have to pay 2 per cent of gross winnings to the Philippine Amusement and Gaming Corporation (PAGCOR) as a licence fee.<\/p>\n\n\n\nThe workforce in the gaming sector has dropped by about 70 per cent. Many Chinese workers did not return to the Philippines after leaving for the Chinese New Year celebrations.<\/p>\n","protected":false},"excerpt":{"rendered":"
The BIR says many companies will not return until there\u2019s a vaccine for Covid-19 and tax rates are lowered.<\/p>\n","protected":false},"author":2,"featured_media":11710,"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 Bureau of Internal Revenue (BIR) reports a significant reduction in operational Philippine offshore gaming operators (POGOs), with only 15 remaining from 63 pre-pandemic. This decline is attributed to the ongoing COVID-19 pandemic, necessitating a vaccine for business normalcy, and new legislative amendments under Bayanihan 2 imposing higher tax rates on turnover, foreign worker salaries, and gross winnings. The sector has also seen a 70% workforce reduction, impacting the overall viability of POGO operations in the Philippines.","focusai_entities":"Bureau of Internal Revenue, Philippine offshore gaming operators, Philippine Amusement and Gaming Corporation","focusai_location":"Philippines, China","focusai_target_profile":"ceo_executive (0.95), regulator (0.95), compliance_legal (0.85), operator_casino (0.9), investor_analyst (0.95), supplier_vendor (0.8), journalist_researcher (0.9)","focusai_suggestions":[{"label":"POGO Tax Revenue Impact","query":"What is the projected fiscal impact of the reduced POGO operational base and the new tax regime on the Philippine government's revenue targets, and how does this compare to pre-pandemic forecasts?"},{"label":"Regulatory Framework Stability","query":"Given the significant POGO exodus, what adjustments are being considered for the regulatory and fiscal framework to attract and retain legitimate operators while ensuring robust governance and compliance?"}],"footnotes":""},"categories":[157,161,158,16333],"tags":[128,15789,2895],"class_list":["post-11708","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business-news","category-daily-news","category-slider-home","category-south-east-asia-news","tag-philippines","tag-pogos","tag-taxes"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/11708","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=11708"}],"version-history":[{"count":3,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/11708\/revisions"}],"predecessor-version":[{"id":777008661,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/11708\/revisions\/777008661"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/11710"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=11708"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=11708"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=11708"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}