{"id":23532,"date":"2021-10-14T10:18:26","date_gmt":"2021-10-14T13:18:26","guid":{"rendered":"https:\/\/focusgn.com\/asia-pacific\/?p=23532"},"modified":"2026-04-23T14:49:09","modified_gmt":"2026-04-23T17:49:09","slug":"philippines-finance-secretary-blames-china-for-pogo-exodus","status":"publish","type":"post","link":"https:\/\/focusgn.com\/asia-pacific\/philippines-finance-secretary-blames-china-for-pogo-exodus","title":{"rendered":"Philippines finance secretary blames China for POGO exodus"},"content":{"rendered":"\n<p>Carlos G. Dominguez, the Philippine finance secretary, said the exodus of POGOs is mainly due to China\u2019s crackdown and not because of the new POGO tax law.<\/p>\n\n\n\n<!--more-->\n\n\n\n<p>The Philippines.- <strong>Carlos G. Dominguez, the Philippines&#8217; finance secretary<\/strong>, doesn&#8217;t attribute the exodus of <strong>Philippine offshore gaming operators<\/strong> (POGOs) to a new tax law but instead believes it is due to China\u2019s crackdown on cross-border gaming. <\/p>\n\n\n\n<p>The Philippines&#8217; president <a rel=\"noreferrer noopener\" target=\"_blank\" href=\"https:\/\/focusgn.com\/asia-pacific\/pogo-tax-signed-into-law-by-philippine-president\">signed a new tax bill into law<\/a> last month, obliging <a rel=\"noreferrer noopener\" target=\"_blank\" href=\"https:\/\/focusgn.com\/asia-pacific\/the-philippines-urges-quick-approval-of-new-pogos-tax\">Philippine offshore gaming operators (POGOs)<\/a>\u00a0to pay<strong>\u00a0a 5 per cent tax on their gross gaming revenue<\/strong>. <\/p>\n\n\n\n<p>there are currently just <strong>40\u00a0POGO licence holders that are currently operating<\/strong>, compared with 61 before the Covid-19 pandemic, but Dominguez says this is more due to China&#8217;s stance. Others left due to budget shortfalls.<\/p>\n\n\n\n<p>He said: &#8220;Once the Chinese started cracking down on that, of course, the business will go down here.&#8221;<\/p>\n\n\n\n<p>Under the new tax law,\u00a0<strong>around 60 per cent of total revenue from POGOs will be assigned for the execution of universal health care programmes\u00a0<\/strong>while 20 per cent of the revenue will be allocated to other health programmes.<\/p>\n\n\n\n<p>The government believes<strong>\u00a0it could collect PHP13.4bn (US$266.6m) in its first year of implementation<\/strong>\u00a0and PHP32bn in 2022.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">AMLC revoked two POGOs registrations<\/h2>\n\n\n\n<p><strong>Two POGOs<\/strong>, MG Universal Link Limited (MG Universal) and Inner Strong Limited (Inner Strong) have had their\u00a0<a rel=\"noreferrer noopener\" target=\"_blank\" href=\"https:\/\/focusgn.com\/asia-pacific\/philippines-amlc-revoked-two-pogos-registrations\">registrations revoked by the AMLC<\/a>. According to the regulator, the two POGOs\u00a0<strong>failed to cooperate with its compliance checking<\/strong>.\u00a0<\/p>\n\n\n\n<p>Through a statement, the AMLC said: \u201cFailure or refusal to cooperate would mean non-compliance and<strong>&nbsp;will be subject to such penalties and sanctions<\/strong>.\u201d<\/p>\n\n\n\n<p>The regulator said: \u201cSupervising Authorities are further informed that<strong>&nbsp;the AMLC resolved to revoke the registration of those covered persons&nbsp;<\/strong>who failed or refused to cooperate with the AMLC.\u201d<\/p>\n\n\n\n<p>In February,&nbsp;<a target=\"_blank\" href=\"https:\/\/focusgn.com\/asia-pacific\/pogos-must-register-for-anti-money-laundering-reporting\" rel=\"noreferrer noopener\">POGOs<\/a>&nbsp;were ordered to register for the electronic reporting system&nbsp;<strong>managed by the AMLC.<\/strong>&nbsp;The decision&nbsp;<strong>followed an amendment to the Philippines\u2019 Anti-Money Laundering Act of 2001<\/strong>&nbsp;that includes real estate developers and brokers, and offshore gaming operators under the Act.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Carlos G. Dominguez, the Philippine finance secretary, said the exodus of POGOs is mainly due to China\u2019s crackdown and not because of the new POGO tax law.<\/p>\n","protected":false},"author":176,"featured_media":17538,"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 finance secretary attributes the exodus of Philippine Offshore Gaming Operators (POGOs) primarily to China's crackdown on cross-border gaming, rather than the recently enacted 5% Gross Gaming Revenue (GGR) tax law. Concurrently, the Anti-Money Laundering Council (AMLC) has revoked the registrations of two POGOs, MG Universal Link Limited and Inner Strong Limited, for non-cooperation with compliance checking, underscoring heightened regulatory enforcement.","focusai_entities":"Carlos G. Dominguez, AMLC, MG Universal Link Limited, Inner Strong Limited","focusai_location":"Philippines, China","focusai_target_profile":"ceo_executive (0.9), regulator (1.0), compliance_legal (1.0), operator_casino (0.95), payments_fraud_aml (0.9), investor_analyst (0.9), supplier_vendor (0.75), journalist_researcher (0.9)","focusai_suggestions":[{"label":"POGO Tax Revenue Impact?","query":"What is the projected long-term impact of the new 5% GGR tax on the Philippine government's revenue targets, considering the ongoing POGO exodus and potential for further market contraction?"},{"label":"AMLC Enforcement Scope?","query":"How will the AMLC's expanded mandate and increased enforcement actions, including the electronic reporting system, influence the operational compliance burden and risk profile for remaining POGO license holders?"}],"footnotes":""},"categories":[157,16333],"tags":[23911,15789],"class_list":["post-23532","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business-news","category-south-east-asia-news","tag-gambling-regulation","tag-pogos"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/23532","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\/176"}],"replies":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/comments?post=23532"}],"version-history":[{"count":2,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/23532\/revisions"}],"predecessor-version":[{"id":23546,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/23532\/revisions\/23546"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/17538"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=23532"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=23532"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=23532"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}