The Philippines hopes to generate more revenue to help finances recover following the impact of the Covid-19 pandemic. <\/p>\n\n\n\n\n\n\n\n
The Philippines.- The Philippines\u2019 lower chamber has passed a bill<\/strong> imposing taxes on online gambling firms<\/strong> in a bid to replenish state revenues after the Covid-19 pandemic.<\/p>\n\n\n\n The bill could allow the country to bring in up to 144bn pesos (US$3bn) in taxes.<\/strong><\/p>\n\n\n\n Since gambling is banned in mainland China, Philippine offshore gambling operators (POGOs) offer online betting to customers in the territory,<\/strong> in spite of attempts by the Chinese government to ban the firms.<\/p>\n\n\n\n The bill proposes that offshore gambling licence holders pay a 5 per cent tax on gross gaming receipts and revenues. <\/strong><\/p>\n\n\n\n It would also impose a 25 per cent tax on gross annual income on the firms’ thousands of foreign employees.<\/strong><\/p>\n\n\n\n In order to be signed into law, the bill still needs to pass in the upper chamber and receive the signature of President Rodrigo Duterte.<\/a><\/em><\/strong><\/p>\n\n\n\n Meanwhile, a bicameral conference committee<\/a><\/em><\/strong> from the Philippines Congress has approved the latest version of the country\u2019s\u00a0anti-money laundering bill<\/a><\/em>,\u00a0<\/strong>which could affect POGOs’ operations.<\/p>\n","protected":false},"excerpt":{"rendered":" The Philippines hopes to generate more revenue to help finances recover following the impact of the Covid-19 pandemic.<\/p>\n","protected":false},"author":2,"featured_media":14456,"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 Philippines' lower chamber has passed a bill to impose a 5% tax on Gross Gaming Receipts (GGR) for Philippine Offshore Gambling Operators (POGOs) and a 25% income tax on their foreign employees, aiming to generate up to US$3bn for post-pandemic recovery. Concurrently, a bicameral committee approved an updated anti-money laundering (AML) bill, which could further impact POGO operations. Both legislative actions await final approval.","focusai_entities":"President Rodrigo Duterte","focusai_location":"Philippines, China","focusai_target_profile":"ceo_executive (0.9), regulator (0.95), compliance_legal (0.9), operator_casino (0.95), payments_fraud_aml (0.9), investor_analyst (0.9), supplier_vendor (0.7), journalist_researcher (0.9)","focusai_suggestions":[{"label":"POGO Tax Impact","query":"What is the projected net revenue impact on POGOs, considering the 5% GGR tax and 25% foreign employee income tax, and how might this influence their operational footprint in the Philippines?"},{"label":"AML Bill Implications","query":"How will the approved anti-money laundering bill specifically alter POGO operational compliance requirements, and what are the potential enforcement challenges given the cross-border nature of their clientele?"}],"footnotes":""},"categories":[153,158,16333],"tags":[229,512,4138],"class_list":["post-14441","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-igaming-news","category-slider-home","category-south-east-asia-news","tag-gambling","tag-gaming","tag-online-gambling"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/14441","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=14441"}],"version-history":[{"count":8,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/14441\/revisions"}],"predecessor-version":[{"id":14465,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/14441\/revisions\/14465"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/14456"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=14441"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=14441"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=14441"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}