House Committee on Ways and Means Chairman and Albay 2nd District Rep. Joey Salceda has proposed a measure that would determine the taxes to be paid by the Philippine offshore gaming operators (POGO).
In House Bill 5267 filed by Salceda Wednesday, 30 October, he said: “A clear, definitive tax regime for POGO will be a potent revenue source, as well as a means of placing these facilities under stricter oversight.”
Salceda said although the Bureau of Internal Revenue has issued Revenue Memorandum Circular 102-2017 which clarified the tax treatment for POGO and its associated services, a law that settles questions of taxability, through amendments in the National Internal Revenue Code, will once and for all address confusion.
“Codifying the tax regime for POGO 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 also said.
The bill seeks to amend among others, Chapter III Section 25, of the National Internal Revenue Code of 1997 to add the provision that states that alien individual employed by a POGO operator “shall pay a tax of 15 percent of the salaries, wages, annuities, compensation, remuneration and other emoluments, such as an honoraria and allowances received from such licensee.”
A traditional dish called zongzi is served during China’s Dragon Boat Festival, which falls in June. It is a rice…
Divina credited the firm’s achievements to its members, thanking them for their ‘hard work, dedication, teamwork, and…
‘Sec. Vince Dizon, please explain how this finding of your own team should not be flagged as a ghost project in Taguig.’
“In computing the tax provided in this section, P250,000 shall be the minimum gross annual income. Any income earned from all other sources within the Philippines by the alien employees referred to under this subsection shall be subject to the pertinent income tax, as the case may be, imposed under this code,” the bill states.
The bill also seeks to amend Title V Section 119 of the National Internal Revenue of 1997 to include a 5 percent franchise tax for POGO.
The proposed amended provision reads: “Any provision of general or special law to the contrary notwithstanding, there shall be levied, assessed and collected in respect to all franchises on radio and/or television broadcasting companies whose annual gross receipts of the preceding year do not exceed P10,000,000, subject to Section 236 of this Code, a tax of 3 percent, on gas and water utilities, a tax of 2 percent on the gross receipts derived from the business covered by the law granting the franchise and a tax of 5 percent on all offshore gaming companies on gross receipts derived from gaming operations covered by the law granting the franchise.”
