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Philippines Bureau Of Internal Revenue Threatens Non-Complying POGOs With Closure

Philippines offshore gaming operators (POGO) have begun paying taxes after witnessing their fellow POGOs being closed down.

According to the Manila Bulletin, the Bureau of Internal Revenue (BIR) has witnessed an increase in the monthly collection after the raid .Arnel S.D. Guballa, BIR Deputy Commissioner has stated that revenue has increased from $27 million in August 2018 to $32 million the same period this year.

Guballa further expects that the revenue collection may increase after the closure of tax-evading POGOs. The fear created has enabled them to realize that they are carrying out enforcement activity and that dialogue won’t work. They have to comply.

Several POGOs are said to have reached to BIR after the raid on Great Empire Gaming and Amusement Corp and paid tax and penalties. Philippines Amusement and Gaming Corporation chief Andrea Domingo; had earlier told the media that the POGO industry would operate when they pay taxes and follow the laws.

Guballa announced that BIR had collected an additional $5million, but what the Department of Finance estimated in June PHP 20 billion hasn’t been raised.

Source: https://calvinayre.com/2019/10/15/business/pogo-tax-revenue-increasing-as-fear-of-raids-spreads/

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Isaac Munga

Isaac Munga

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