MANILA, Philippines — The potential revenue of the country from Philippine Offshore Gaming Operators (Pogos) could reach as high as P65 billion in taxes, Senator Ralph Recto said Thursday.
“Two-percent regulatory fee would be equivalent to P10.8 billion. The five percent franchise tax which is suggested or in the law—and we are now putting it in the bill here—would have been P27 billion. And the withholding tax from 183,000 [estimated Pogo] employees would have been P27.5 billion, for a total of P65 billion. That’s how huge the potential revenues are from this industry,” Recto said during the hearing of the Senate Committee on Ways and Means on various bills dealing with taxes f…
Keep on reading: PH’s potential revenue through Pogo taxes could reach P65B — Recto