Gaming Revenue

A bill seeking to plug some of the gaps in Philippines’ tax regime covering Philippine Offshore Gaming Operators has reached the Senate plenary on Tuesday. 

Senator Pia Cayetano, the chairperson of the Senate ways and means committee said the bill “will not only plug the loopholes in our country’s tax code that led to issues of confusion surrounding the operation of Pogos, but it will also prevent similar issues in the future, which could gravely undermine our government’s power to impose and collect the right taxes.”

Under the bill, all offshore gaming licenses, regardless of whether they are Philippine or foreign based, will be considered as doing business in the Philippines and will be required to pay 5 percent gaming tax on the gross gaming revenue or receipts derived from their gaming operations.

The Inquirer