BusinessWorld
March 4, 2021 | 8:03 pm
THE Bureau of Internal Revenue (BIR) projected collections of P3.92 billion from Philippine Offshore Gaming Operators (POGOs) in 2021, based on the industry’s weak tax yield in January.
BIR Deputy Commissioner Arnel SD. Guballa said January collections from the embattled industry, which has been exiting the Philippines, amounted to P372 million, down 68.63% from a year earlier.
“The total projection for POGO revenues for taxable year 2021, our projection is P3.92 billion based on January voluntary payments,” Mr. Guballa told the Senate Ways and Means Committee.
“So the (full-year) amount is based on the January actual collection multiplied by 12 months,” he added.
Senators on Thursday pushed for the passage of the bill seeking to tax Philippine Offshore Gaming Operators (POGO) to help the government generate revenues and fund its major programs, particularly on health and education, badly needed this time of a COVID-19 pandemic.
March 3, 2021 | 12:33 am Font Size
PHILIPPINE STAR/MICHAEL VARCAS
THE government is pushing for the passage of 25 priority measures before the end of the year, including new taxes on digital platforms and offshore gaming operators, further liberalization of the retail trade sector and the last two remaining tax reform packages.
The Legislative-Executive Development Advisory Council (LEDAC) Executive Committee approved the common legislative agenda for the 18
th Congress during a meeting on Feb. 18, according to the National Economic and Development Authority (NEDA).
“These bills are crucial in ensuring the country’s economic recovery and in regaining our development trajectory that was held back by the COVID-19 pandemic. We will continue working with Congress to move the legislative agenda forward and enact these priority legislations within 2021,” Acting Socioeconomic Planning Secretary and LEDAC Secretariat Head Karl Kendrick T. Chua said in a statement.
endIndex:
Metro Manila (CNN Philippines, March 3) – The last two packages of the Comprehensive Tax Reform Program (CTRP) and a measure that will aid pandemic-stricken small businesses are among the top legislative agenda of the Legislative-Executive Development Advisory Council (LEDAC) this year.
LEDAC determines and recommends to the President the top socio-economic development goals affecting national development.
Acting Socioeconomic Planning Secretary and LEDAC Secretariat Head Karl Kendrick Chua said these pending bills in Congress are important for the country s economic recovery amid the COVID-19 pandemic. These bills are crucial in ensuring the country s economic recovery and in regaining our development trajectory that was held back by the COVID-19 pandemic. We will continue working with Congress to move the legislative agenda forward and enact these priority legislations within 2021, said Chua.
POGOs given until 16 March to register under new Philippines anti-money laundering reporting system asgam.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from asgam.com Daily Mail and Mail on Sunday newspapers.