• Tue. Apr 23rd, 2024

Philippines getting tough on POGO license holders’ tax arrears

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In the Philippines and the nation’s Finance Secretary has reportedly made good on an official pledge to crack down on all licensed online gambling operators found not to be paying the appropriate amount of tax.

According to a report from Inside Asian Gaming, Carlos Dominguez III (pictured) used an official Friday meeting with members of an inter-agency task force monitoring a recent influx of foreign workers to instruct the Bureau of Internal Revenue (BIR) to immediately shutter any enterprise holding a Philippine Offshore Gaming Operator (POGO) license that is in tax arrears.

Absolute accountability:

Dominguez reportedly stated that the Asian nation’s Department of Finance is to now additionally ensure that all of those online gambling firms found guilty of illicitly withholding taxes are held accountable for the liabilities of every one of their workers, which has removed the chance that offenders could dodge their arrears obligations by handing over lump sum payments.

Outstanding accounts:

Inside Asian Gaming moreover reported that Dominguez’ campaign, which is to be led by the BIR in partnership with the Department of Labor and Employment, the Bureau of Immigration and the Philippine Amusement and Gaming Corporation, followed the publication of an official investigation that showed the Philippines had recently issued some 130 notices related to tax liabilities worth slightly over $413.6 million.

Profitable pursuit:

Despite this shortfall, the Philippines had managed to earn almost $26.8 million from its 60 POGO certifications in the eight months to the end of August, which equates to approximately 242% more than the about $11 million it collected for the entirety of 2018.

Philippines getting tough on POGO license holders’ tax arrears

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