Saturday, July 02, 2022

Delinquent POGOs owe PHP21.62b


Philippine Offshore Gaming Operators (POGOs) owe about PHP21.62 billion ($417 million)  in taxes and the pace of collection is still slow, according to local media reports.

The Department of Finance has issued 130 letters demanding payment of taxes and has collected PHP1.4 billion from January to August, a 242 percent increase on the prior year.

The Bureau of Internal Revenue has once again warned that the POGOs need to pay the correct taxes, or face sanctions. 

BIR Commissioner Caesar Dulay told the Manila Times that these companies will face closure and must be prepared to incur millions in losses.

“Tell them to cooperate and volunteer to pay. The problem is they don’t respond to our demand letters,” Dulay said, indicating there were POGOs and service providers that remain non-compliant with the tax regulations despite the government crackdown.

The Philippine Amusement and Gaming Corp. has suspended issuance of new licenses pending a review of the sector, with a view to cracking down on tax and visa regulations. 

 

Asia Gaming Brief is a news and intelligence service providing up to date market information for worldwide executives on relevant gaming issues in Asia.

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