House panel OKs bill slapping 5% franchise tax, 25% income tax on POGOs

NEW TAXES. The House committee on ways and means moves to impose additional taxes on Philippine offshore gaming operators. File photo by Rappler

MANILA, Philippines – The House committee on ways and means approved the bill that would impose new taxes on the revenues generated by Philippine offshore gaming operators and their service providers., penned by the committee chairperson, Albay 2nd District Representative Joey Salceda. The measure will now have to be sponsored for 2nd reading approval in the plenary.

If passed into law, HB No. 5267 would require POGOs to pay a 5% tax on gross receipts from their operations covered by the law granting their franchise. Foreign employees working for POGOs who earn a minimum annual salary of P600,000 would also have to pay an additional 25% tax on their salaries, wages, annuities, compensation, remuneration, honoraria, and allowances."The committee on ways and means has already approved the tax on POGO. It's essentially just, actually just tweaking PD 1869 that the 5% franchise tax should be directly imposed on them," Salceda told reporters after the hearing.

funny that they would like to apply tax onto dried fish but nit on pogo

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