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New Bill to Tax Online Gambling Firms Passes in the Philippines


Philippine lawmakers found a solution to the country’s financial problems in taxing online gambling firms.
Since the beginning of the coronavirus pandemic, online gambling has become huge hit in the casino industry in many countries including the Philippines. On Monday, the country’s lower congressional chamber voted on a bill calling for the introduction of taxes on online gambling firms.
Philippines-licensed offshore gambling operators (POGOs) are online gambling companies that are known to be offering betting and casino experiences to customers mostly from China where gambling is banned altogether.
China made a call to ban such activities but in 2019 President Rodrigo Duterte rejected it. According to him, online gambling fueled the country’s property demand and retail spending and opened much needed jobs for residents of the South-East Asian nation. ....

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UPDATE 1-Philippine lawmakers pass bill to tax online gambling firms


Online gambling firms employ thousands of mainland Chinese
Clear-cut rules to benefit online gaming operators - regulator (Adds comments from gaming regulator)
MANILA, Feb 8 (Reuters) - The Philippines’ lower congressional chamber on Monday passed a bill imposing taxes on online gambling firms, as the Southeast Asian nation seeks funds to recover from the coronavirus pandemic.
Online gambling companies, known as Philippine offshore gambling operators (POGOs), offer online betting to customers in mainland China, where gambling is banned.
In 2019 President Rodrigo Duterte rejected China’s call to ban such firms, which have fuelled property demand and retail spending in the Philippines since 2016, saying the Southeast Asian nation needed the jobs and fees they generated. ....

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