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Philippines tax bureau predicting near 50% fall in POGO tax revenue in 2021
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The Philippines Bureau of Internal Revenue is estimating that tax revenue from Philippine Offshore Gaming Operators (POGOs) will fall by almost 50% in 2021, impacted by the ongoing COVID-19 pandemic.
According to a report by
CNN Philippines, projections provided to the senate by BIR Deputy Commissioner Arnel Guballa show tax revenues falling from Php7.18 billion (US$148 million) in 2020 to Php3.92 billion (US$81 million). The projection is based on a 69% decline in January revenue collected from POGOs to Php327.2 million (US$6.7 million).
Falling tax revenues come as POGOs continue to resist the implementation of a new taxation scheme recently approved by Philippine lawmakers that would see licensed POGOs pay a gaming tax of 5% on gross gaming revenues and POGO workers earning Php600,000 or more per year a 25% withholding tax.
BIR wants POGOs, other businesses suspended over failure to file tax returns By ERWIN COLCOL, GMA News
Published March 4, 2021 8:41pm The Bureau of Internal Revenue (BIR) has proposed the suspension or temporary closure of Philippine Offshore Gaming Operators (POGOs) and business establishments that will not file their income tax return or underdeclare their sales or revenues. BIR Deputy Commissioner Arnel Guballa made the suggestion on Thursday as the Senate ways and means panel tackled proposals to impose taxes on POGOs. In his presentation, Guballa said the BIR endorses the passage of a measure taxing POGO licensees or operators and foreign nationals employed by POGO entities, amending Sections 22, 25, and 119 of the National Internal Revenue Code (NIRC).