A bill that clarifies taxes on Philippine Offshore Gaming Operations, including a proposal for a 5 percent franchise tax on gross receipts, was filed in the House of Representatives on Wednesday.
Albay 2nd District Representative Joey Salceda said the new bill would clear up confusion surrounding the growing POGO industry, according to local media reports.
“A clear, definitive tax regime for POGOs will be a potent revenue source, as well as a means of placing these facilities under stricter oversight,” Salceda, chair of the House Ways and Means panel, said.
“Failure to faithfully report revenues and expenses will now unequivocally constitute tax evasion,” he added.
Foreign individuals will be subject to a 15 percent tax on salaries, annuities, and other emoluments. POGO operators will also pay 5 percent tax on gross receipts.
There was no mention in the reports of other proposals previously put forward by Salceda, including a gaming tax of US$10,000 a month per table for an online casino with a “live” setup, and a US$5,000-a-month gaming tax for random number generator (RNG)-based games and US$1,000 presumptive corporate income tax per seat for POGOs.