Read this in The Manila Times digital edition.
GROSS gaming revenues (GGR) of offshore gaming licensees (OGL) are now subject to a 5-percent tax following the Bureau of Internal Revenue's (BIR) implementation of Republic Act 11590, which taxes Philippine Offshore Gaming Operators or POGOs. The new tax rules will take effect immediately, according to the BIR's Revenue Regulation 20-2021, which was released on Friday and signed by Finance Secretary Carlos Dominguez 3rd on November 26 this year.
"In lieu of all other direct and indirect internal revenue taxes and local taxes, there shall be levied, assessed and collected from OGLs (whether Philippine-based or foreign-based) a gaming tax equivalent to 5 percent of the GGR or 5 percent of the agreed predetermined minimum monthly revenue from gaming operations, whichever is higher," it explained. OGL is defined by the BIR as an offshore gaming operator, whether based in the Philippines or elsewhere, that is lawfully licensed and authorized to conduct gaming activities, including the acceptance of bets from offshore customers, under a gaming license issued by a POGO licensing authority.
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