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HB5267 seeks bigger tax take from POGOs

THE House Committee on Ways and Means approved a measure that seeks to impose taxes on Philippine Offshore Gaming Operations (POGO)

Members of the committee chaired by Albay Rep. Joey Salceda voted in favor of House Bill 5267 which seeks to tax companies  engaged in POGO and their workers.

According to Salceda, the committee approved the 5 percent franchise tax on gross winning of POGOs licensed by Philippine Gaming Corp. (PAGCOR).

It also approved .25 percent withholding tax with minimum threshold of P600,000 per annum for the Chinese workers.

The bill also mandates PAGCOR to issue licenses after acquiring registration from the Bureau of Internal Revenue (BIR).

Salceda stressed that with this measure the national government will be able to collect P45 billion more from the POGOs.

“While the Bureau of Internal Revenue (BIR) has issued Revenue Memorandum Circular No. 102-2017 which clarified the tax treatment for these facilities and associated services, a law that settles questions of taxability, through amendments in the National Revenue Code, will once and for all address confusion on the taxation of this emerging industry,” Salceda said.

Publication Source :    People's Journal