new five percent tax<\/a> on POGO gross gaming revenues. That’s in addition to the previous two percent tax levied on offshore operations.<\/p>\n<\/div>\nThe Philippines also benefits from foreign nationals working in the POGO businesses. Any foreign employee who earns PHP600,000 (US$12,247) in a year is subjected to a 25 percent personal income tax.<\/p>\n
The overall tax revenue gain is a result of the increased share required by the government. But the operators that did remain benefited from COVID-19 halting leisure and business travel. The result was tens of millions of Chinese people staying home for much of 2020 — and some gambling online through a POGO.<\/p>\n
Integrated Resorts Move Online<\/b><\/h2>\n
Three of the four integrated resort casinos in Manila obtained internet gaming permits from PAGCOR last month. The Philippines created the new gaming licenses because of reduced visitors arriving at the multibillion-dollar properties during the pandemic.<\/p>\n
City of Dreams, Okada, and Solaire all received so-called Philippine Inland Gaming Operator (PIGO) concessions. But unlike POGOs, the licenses are only to cater to verified high rollers who had frequented the casino resorts in the past.<\/strong><\/p>\nQualifying gamblers must already be in each casino’s player database and tracking system.<\/p>\n
Revenue from PIGO operations is heavily taxed at an effective rate of 30 percent. PAGCOR boss Andrea Domingo said PIGOs are a win-win. “It will be good to collect revenues and stop illegal gambling,” she stated.<\/p>\n","protected":false},"excerpt":{"rendered":"
Philippines Offshore Gaming Operators (POGO) paid the government more taxes in 2020 than they did in each of the previous two years. The Philippines Bureau of Internal Revenue revealed today that it received PHP7.18 billion (US$149.3 million) from licensed internet gaming firms last year. That’s an 11.7 percent premium on 2019’s tax receipts of $133.7 […]<\/p>\n","protected":false},"author":25,"featured_media":162591,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[69069,19],"tags":[],"acf":[],"yoast_head":"\n
Philippines Offshore Gaming Tax Revenue Increases<\/title>\n\n\n\n\n\n\n\n\n\n\n\n\n\n\t\n\t\n\t\n\n\n\n\n\n\t\n\t\n\t\n