{"id":237684,"date":"2019-11-18T05:09:23","date_gmt":"2019-11-18T10:09:23","guid":{"rendered":"https:\/\/canadianinquirer.net\/v1\/?p=237684"},"modified":"2019-11-18T05:09:23","modified_gmt":"2019-11-18T10:09:23","slug":"bill-on-pogo-taxation-hurdles-house-panel","status":"publish","type":"post","link":"https:\/\/canadianinquirer.net\/v1\/2019\/11\/18\/bill-on-pogo-taxation-hurdles-house-panel\/","title":{"rendered":"Bill on POGO taxation hurdles House panel"},"content":{"rendered":"
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The panel, chaired by Albay Rep. Joey Salceda, approved House Bill 5257, which seeks to impose a 5 percent franchise tax on all offshore gaming companies on gross receipts derived from gaming operations. (File photo<\/a>: Joey Sarte Salceda\/Facebook<\/a>)<\/figcaption><\/figure>\n

MANILA<\/strong>\u00a0— The House committee on ways and means on Monday approved a measure that seeks to tax companies and workers engaged or involved in Philippine offshore gaming operations (POGOs).<\/p>\n

The panel, chaired by Albay Rep. Joey Salceda, approved House Bill 5257, which seeks to impose a 5 percent franchise tax on all offshore gaming companies on gross receipts derived from gaming operations.<\/p>\n

It also proposes to set a 25-percent withholding tax on foreign POGO workers with a minimum threshold of PHP600,000 per annum.<\/p>\n

Salceda said these proposed tax rates would raise a total of PHP45 billion for the national government.<\/p>\n

He stressed it was necessary to determine the taxation of the emerging POGO industry, as several online gaming facilities have recently proliferated in the country.<\/p>\n

He further noted that a clear definitive tax regime for POGOs will be a potent revenue source. It will also be a means of placing these facilities under stricter oversight — failure to faithfully report revenues and expenses will constitute tax evasion.<\/p>\n

“Codifying the tax regime for POGOs will provide the government a broader set of levers with which to monitor and oversee the industry and to stabilize the gyrations in tax revenue intake and enforcement,” Salceda said.<\/p>\n","protected":false},"excerpt":{"rendered":"

MANILA\u00a0— The House committee on ways and means on Monday approved a measure that seeks to tax companies and workers …<\/p>\n","protected":false},"author":44,"featured_media":197160,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[16,95],"tags":[],"class_list":["post-237684","post","type-post","status-publish","format-standard","has-post-thumbnail","category-news","category-news-ph","mauthors-filane-mikee-cervantes","mauthors-philippine-news-agency"],"_links":{"self":[{"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/posts\/237684","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/users\/44"}],"replies":[{"embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/comments?post=237684"}],"version-history":[{"count":1,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/posts\/237684\/revisions"}],"predecessor-version":[{"id":237685,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/posts\/237684\/revisions\/237685"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/media\/197160"}],"wp:attachment":[{"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/media?parent=237684"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/categories?post=237684"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/tags?post=237684"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}