Lawmakers have filed a bill about the POGO tax regime in the House of Representatives in order to clarify the segment’s operations.
Philippines.- Lawmakers want to clarify regulations on Philippine Offshore Gaming Operations. That’s why they filed a POGO tax bill in the House of Representatives on Wednesday.
Representative Joey Salceda assures the bill would clear up confusion about the industry: “A clear, definitive POGO tax regime will be a potent revenue source,” he said. “As well as a means of placing these facilities under stricter oversight.
“Failure to faithfully report revenues and expenses will now unequivocally constitute tax evasion,” he added.
Considering the tax
Lawmakers are considering a new change to gambling regulations through proposed legislation. The Philippines would set a 5% tax on operators’ revenue, a measure that has the authorities’ support.
Joey Salceda filed the bill in the Philippines House of Representatives and got support from finance secretary Carlos Dominguez III.
The Philippines would not only tax POGO operations but also set a monthly fee on table games. Moreover, a monthly fee levied on random number generator (RNG) based games like slot machines.
Philippines bans POGO
Many POGO licensees have been under fire over their failure to pay taxes. That’s why the government closed Altech Innovations Business Outsourcing, one of them.