Bill imposing more taxes on Pogo signed into law | Inquirer News

Bill imposing more taxes on Pogo signed into law

By: - Reporter / @KAguilarINQ
/ 01:13 PM September 23, 2021

MANILA, Philippines — President Rodrigo Duterte has signed into law a measure slapping additional taxes on Philippine offshore gaming operators (Pogos), Malacañang said Thursday.

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“Pinirmahan kahapon, September 22, 2021, ang Republic Act No. 11590 or an Act taxing Philippine Offshore Gaming Operations,” presidential spokesperson Harry Roque said in a press briefing.

(Signed yesterday, September 22, 2021, is Republic Act No. 11590 or an Act taxing Philippine Offshore Gaming Operations.)

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“Bahagi ito sa ating mahigpit na pagre-regulate ng lahat ng klase ng gambling at pagbabawal ng illegal na sugal,” he added.

(This is part of our strict regulation of all kinds of gambling and the prohibition of illegal gambling.)

The law amends the National Internal Revenue Code (NIRC) to better collect taxes from Pogos and imposes more taxes aside from the franchise tax levied on their operations.

Under the said law, all offshore gaming licensees, regardless of whether Philippine or foreign-based are considered doing business in the Philippines, must pay a 5-percent gaming tax on the gross gaming revenue or receipts derived from their gaming operations.

Foreigners employed by offshore gaming licensees and service providers will be subjected to a 25-percent withholding tax. It provides a minimum final withholding tax due of P12,500 for any taxable month.

Roque said the law includes a provision allocating 60 percent of the total revenue collected from Pogos for the implementation of the Universal Healthcare Act.

Twenty percent will be allocated for the Department of Health’s facility enhancement programs while the remaining 20 percent will be used to attain Sustainable Development Goals determined by the National Economic and Development Authority.

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TAGS: gambling, Philippine offshore gaming operators, POGOs, Tax
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