Gains from Philippine Offshore Gaming Corp. have been growing which indicates the actual economic benefits being derived from the industry, a Senate hearing established recently.

Revenues collected from POGOs for the first eight months surpassed the full-year revenues in 2021, at P4.438 billion in the first eight months against P3.91 billion for the entire 2021.

The Bureau of Internal Revenue said after the implementation of the RA 11590 or An Act Taxing POGO, tax collections jumped to P410 million monthly for the rest of 2021, while by January 2022, it grew to P540 million.

BIR collected P300 million per month in taxes from POGO from January to October 2021.

Federation of Filipino Chinese Chamber of Commerce and Industry Inc. president Henry Lim Bon Liong indicated millions of taxes collected from POGOs have brought about economic benefits to the country, as licensed operators bring revenues to the coffers of the government through fees and taxes, provide employment to Filipinos, increase the demand for both commercial and residential real estate, and consume both goods and services, thus revitalizing and sustaining businesses that cater to them.

Lim's statement was supported by House Committee on Ways and Means chairperson and Albay Representative Joey Salceda, saying in a separate statement that taxing POGOs do "actually work."

"On the other hand, it is deplorable that crimes and illegal activities related to POGOs are increasing and these have come to adversely affect not only those involved in the industry and the Chinese or foreigners working therein but also many Filipinos. We believe that the Philippine National Police is working very hard to apprehend the individuals committing these crimes and that they are helping the victims," Dr. Lim emphasized.

The FFCCCII chief also stressed that the negative effects of POGOs do counteract the economic gains they bring, and declaring POGOs as illegal and closing them will be counterproductive to the economy.

Proposals considered

"We have heard suggestions such as POGO enclaves that will contain all POGOs in a specific location, plus other new ideas. It may be difficult to regulate POGOs, but we believe that our government has the capability to do so," Lim said.