The Department of Finance and the country’s largest POGO operators have agreed on a tax framework aimed at keeping more than 100,000 Chinese workers in line with Philippine income tax laws, local media reports.
Following a meeting between Finance Secretary Carlos Dominguez III and leaders of the online gaming sector, the Bureau of Internal Revenue has been directed to start levying withholding taxes from these foreign workers - which is estimated to equal to around P2 billion per month from now on.
The move is expected to boost state coffers and puts an end to a standoff between the government and Philippine offshore gaming operators.
There are around 55 POGO operators licensed by PAGCOR and another 30 more that are waiting to be licensed.
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