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.
David Johnson is a respected writer known for his expertise in crafting compelling articles about cannabis. With a passion for exploring the intersection of cannabis, health, and wellness, he sheds light on the therapeutic properties and potential uses of this versatile plant. David’s in-depth analysis and thought-provoking commentary offer readers a deeper understanding of the evolving landscape of cannabis legislation, consumption methods, and industry trends.