Operators working in the licensed casinos of the Philippines have just agreed to a new taxing method that will pay up from the salaries of over 100,000 Chinese casino workers.
This particular program has been trying to be authorized for some time now. The head of the framework is the Philippine Amusement and Gaming Corporation, also known as PAGCOR. The taxes are hopefully being aimed towards 56 Philippine Offshore Gaming Operators, or POGOs for short, to offer their full amount of taxes to the leading authority.
To further enforce this, Carlos Dominguez III was the one who inquired the government to formulate with this authorization into the world of online gambling. Chinese employees must pay up the full tax requirement and be reminded of this.
BIR, also known as the Bureau of Internal Revenue, committed their research into the long haul they will receive from this new program. It is estimated that P2b, or $39 million in US currency, will be handed to the Bureau every month from the withholding taxes. This will increase the total amount of P24b. Unlike last year, this will be a big step up, as even with all the forms of revenue added together, it only went up to P7.4b.
To help prevent the interference of any illegal activity that affects this total growth, the BIR is setting up preventions so that any illegal operators who set unlicensed online gambling sites will not take advantage of local business without having to pay the taxes required. The Philippines will not become a ground where those who wish to execute these schemes will not pay the consequences for their actions.