Saturday, June 10, 2023
manilastandard.net
ADVERTISEMENT
  • About
  • News
    • Top Stories
    • National
    • World News
    • Pinoy Abroad
    • Features
  • Opinion
    • Editorial
    • Columns
    • Soundbytes
  • LGUs
    • NCR
    • Luzon
    • Visayas
    • Mindanao
  • Business
    • Corporate
    • Economy & Trade
    • Stocks
    • Money
    • Agri & Mining
    • Power & Tech
    • IT & Telecom
  • Sports
    • Basketball
    • Volleyball
    • Fightsports
    • Active
    • Sports Plus
    • One Championship
    • Columns
  • Entertainment
    • TV & Movies
    • Celebrity Profiles
    • Music & Concerts
    • Digital Media
    • Columns
  • Lifestyle
    • Food
    • Culture & Media
    • Fashion
    • Health and Home
    • Leisure
    • Shopping
    • Columns
  • Others
    • Pets
    • Pop.Life
      • Newsmakers
      • Hangouts
      • A-Pop
      • Post Its
      • Performances
      • Malls & Bazaars
      • Hobbies & Collections
    • Technology
      • Gadgets
      • Computers
      • Business
      • Tech Plus
    • MS ON THE ROAD
      • Sedan
      • SUV
      • Truck
      • Bike
      • Accessories
      • Motoring Plus
      • Commuter’s Corner
    • Home & Design
      • Residential
      • Commercial
      • Construction
      • Interior
    • Spotlight
    • Gallery
      • Photos
      • Videos
    • Events
      • Seminars
      • Exhibits
      • Community
    • Biyahero
      • Travel Features
      • Travel Reels
      • Travel Logs
  • Advertise with Us
No Result
View All Result
  • About
  • News
    • Top Stories
    • National
    • World News
    • Pinoy Abroad
    • Features
  • Opinion
    • Editorial
    • Columns
    • Soundbytes
  • LGUs
    • NCR
    • Luzon
    • Visayas
    • Mindanao
  • Business
    • Corporate
    • Economy & Trade
    • Stocks
    • Money
    • Agri & Mining
    • Power & Tech
    • IT & Telecom
  • Sports
    • Basketball
    • Volleyball
    • Fightsports
    • Active
    • Sports Plus
    • One Championship
    • Columns
  • Entertainment
    • TV & Movies
    • Celebrity Profiles
    • Music & Concerts
    • Digital Media
    • Columns
  • Lifestyle
    • Food
    • Culture & Media
    • Fashion
    • Health and Home
    • Leisure
    • Shopping
    • Columns
  • Others
    • Pets
    • Pop.Life
      • Newsmakers
      • Hangouts
      • A-Pop
      • Post Its
      • Performances
      • Malls & Bazaars
      • Hobbies & Collections
    • Technology
      • Gadgets
      • Computers
      • Business
      • Tech Plus
    • MS ON THE ROAD
      • Sedan
      • SUV
      • Truck
      • Bike
      • Accessories
      • Motoring Plus
      • Commuter’s Corner
    • Home & Design
      • Residential
      • Commercial
      • Construction
      • Interior
    • Spotlight
    • Gallery
      • Photos
      • Videos
    • Events
      • Seminars
      • Exhibits
      • Community
    • Biyahero
      • Travel Features
      • Travel Reels
      • Travel Logs
  • Advertise with Us
No Result
View All Result
manilastandard.net
No Result
View All Result
Home Business

BIR closes 18 POGOs in Cagayan, warns other non-compliant firms

Julito G. RadabyJulito G. Rada
February 23, 2022, 7:35 pm
in Business, Money
Reading Time: 3 mins read
A A
Share on FacebookShare on TwitterShare on Email

The Bureau of Internal Revenue on Wednesday told non-compliant online gaming licensees and service providers to register and pay taxes or face closure just like what happened to 18 licensed Philippine offshore gaming operators in Cagayan province.

It said in a statement it would take appropriate action against erring or non-compliant POGOs. “The BIR will shut down and/or penalize erring or non-compliant POGOs,” it said.

Eighteen POGO licensees of the Cagayan Economic Zone Authority, including their support service providers, were temporarily closed during enforcement operations by the BIR on Feb. 11.

The BIR identified the POGO entities as Asian BGE Limited, Fine Day Holdings Limited, Hana Talk Inc., NCGAC Limited, NEO Kingdom Limited, Oak Tree Services Limited, Succeed Asia Limited, Wealthy Leap and WUS Technologies Holdings Limited.

The support service providers of the POGO licensees whose operations were also suspended included Alpha Fortune Management Solutions Inc., Empire Group International & Management Tech Services Inc., Hi-Source Services Inc., Kui Business Services Inc., Lyndhurst Services Inc., Pacific Solutions Management, Rimrock ICT Services Inc., Succeed Asia Ventures Inc. and Top Asia Leisure and Entertainment Corp.

Following the raids, BIR Commissioner Caesar Dulay said the closure of unregistered POGO entities, along with other tax enforcement activities, served as a deterrent for those who would commit tax violations.

“We urge all taxpayers to comply with the bureau’s registration requirement, filing and payment of taxes and other tax obligations in order to avoid facing business closure, penalties and possible criminal charges before the court,” Dulay said.

The BIR said the business operations of the 18 POGO licensees and their service providers would remain suspended until the BIR’s registration requirements and other pertinent tax regulations were complied with and the corresponding deficiency taxes and penalties were paid.

About 40 POGO licensees and 168 POGO service providers are registered with the BIR.

The agency said that as part of its mandate, it would conduct regular surveillance and raids of non-compliant POGOs as they cheat and deprive government of revenues for pandemic response.

The BIR reported earlier that the newly-enacted POGO tax law generated P1.22 billion in additional revenue in the initial months of implementation. The number could be higher if not for the unscrupulous non-registered or non-compliant operators, it said.

“Despite the pandemic, from Oct. 9, 2021 to Dec. 31, 2021, the BIR has collected a total of P1.22 billion from offshore gaming licensees, their service providers and their employees,” the bureau said.

The figure included P709.39 million in withholding taxes between Oct. 9 and Dec. 31, 2021; P409.93 million from POGOs’ gaming revenues; P89.67 million from income taxes; P5.33 million in value added tax or percentage tax; P4.96 million in other taxes; and P3.34 million in documentary stamps tax.

“As we already have rules and regulations in place for the POGO industry, we expect POGO operations to continue and we foresee an increase in revenues arising from said activities,” the BIR said.

Section 2 of Republic Act No. 11590 or the POGO Law provides that an offshore gaming licensee is considered as engaged in doing business in the Philippines and is therefore required to register with the BIR.

Section 5 of Revenue Regulations No. 20-2021 states that non-registration of POGOs with the BIR is a fraudulent act, which bears with it the penalty of implementing the closure orders against the erring offshore gaming licensees that will also include the closure of all their respective accredited service providers.

Tags: BIRBureau of Internal RevenueCagayan provincePhilippine Offshore Gaming OperatorsPOGOs
ADVERTISEMENT
Julito G. Rada

Julito G. Rada

Related Posts

PH eyes upper-middle income status again

byJulito G. Rada
June 9, 2023, 9:10 pm
0
8
PH condoles with UAE on Khalifa death

The inter-agency Development Budget Coordinating Committee on Friday kept the 2023 gross domestic product growth forecast at 6 percent to...

Read more

GCash expands payment service to four countries

byDarwin G. Amojelar
June 9, 2023, 9:05 pm
0
8
GCash transactions expected to top P3.5t this year

GCash said Friday it expanded its cross-border payment service to the United Kingdom, France, Germany and Italy. The company said...

Read more

Meralco announces electricity rate hike of P0.41 per kWh

byAlena Mae S. Flores
June 9, 2023, 9:00 pm
0
8
Meralco buying 170-MW power supply amid big demand

Manila Electric Co. announced a power rate increase of P0.4183 per kilowatt-hour in June on higher prices at the spot...

Read more

LandBank welcomes Fitch’s upgrade of credit outlook

byJulito G. Rada
June 9, 2023, 8:55 pm
0
8
LandBank lends P233b to agriculture

State-run Land Bank of the Philippines welcomed the recent upgrade on its outlook to stable by global credit watcher Fitch...

Read more

ADB names new country director for Philippines

byManila Standard Business
June 9, 2023, 8:50 pm
0
8
PH gets $25 million loan from ADB to pay for vax

The Asian Development Bank appointed Pavit Ramachandran as country director for the Philippines. He assumed office Friday. Ramachandran will lead...

Read more

ALLHC strengthens Central Luzon foothold

byManila Standard Business
June 9, 2023, 8:45 pm
0
8
AyalaLand Logistics taps foreign fund to build data centers

AyalaLand Logistics Holdings Corp. strengthens its foothold in Central Luzon with Pampanga Technopark, envisioned to be a new growth center...

Read more

Print Edition

View More

Recent Posts

  • Defiant Butler insists Heat will fight all the way
  • Pixar returns with immigrant fable ‘Elemental’
  • On Lampedusa, Red Cross takes over grim migrant hub
  • Nuggets a win shy of 1st NBA crown
  • How Trump indictment could impact White House race
  • Children lost for 40 days in Colombian Amazon found alive
  • UK former PM Johnson rewards Brexit allies with honours
  • ‘A test of humanity’: saving animals in flood-hit Kherson

Advertisement

Latest News

Children lost for 40 days in Colombian Amazon found alive

byAFP
June 10, 2023, 9:01 am
0
8
Children lost for 40 days in Colombian Amazon found alive

The four Indigenous children who had been missing for more than a month in the Colombian Amazon rainforest after a...

Read more

UK former PM Johnson rewards Brexit allies with honours

byAFP
June 10, 2023, 8:30 am
0
8
UK former PM Johnson rewards Brexit allies with honours

Boris Johnson's long-awaited resignation honours list was published on Friday, with the British former leader rewarding his key Brexit allies...

Read more

‘A test of humanity’: saving animals in flood-hit Kherson

byAFP
June 10, 2023, 8:00 am
0
8
‘A test of humanity’: saving animals in flood-hit Kherson

In Ukraine's flood-hit city of Kherson, volunteer Sergei Ludensky balances on logs floating in the dark green water, looking at...

Read more

Chinese Rocket Part

byManila Standard
June 10, 2023, 1:10 am
0
8
Chinese Rocket Part

The Philippine Coast Guard shows a portion of a Chinese rocket recovered by fisherman Alvin Menez in the open sea...

Read more

20,000 flee restive Mayon

byCharles Dantesand2 others
June 10, 2023, 1:05 am
0
8
20,000 flee restive Mayon

Blast at summit sign of possible eruption as Albay declares state of calamity MAYON AGLOW. Mayon Volcano's crater is aglow...

Read more

Advertisement

ADVERTISEMENT
Facebook Twitter Instagram Youtube

ABOUT US

Manila Standard

Manila Standard website (manilastandard.net), launched in August 2002, extends the newspaper’s reach beyond its traditional readers and makes its brand of Philippine news and opinion available to a much wider and geographically diverse readership here and overseas.

Digital Edition

In tone and content, the online edition mirrors the editorial thrust of the newspaper. While hewing to the traditional precepts of fairness and objectivity, MS believes the news of the day need not be staid, overly long or dry. Stories are succinct, readable and written in a lively style that has become a hallmark of the newspaper.

Download – Today’s Paper

Search

No Result
View All Result

6th Floor Universal Re Bldg., 106 Paseo De Roxas cor. Perea Street, Legaspi Village, 1226 Makati City Philippines

Trunklines: 832-5554, 832-5556, 832-5558

© 2021 Manila Standard - Designed and Developed by Neitiviti Studios.

No Result
View All Result
  • About
  • News
    • Top Stories
    • National
    • World News
    • Pinoy Abroad
    • Features
  • Opinion
    • Editorial
    • Columns
    • Soundbytes
  • LGUs
    • NCR
    • Luzon
    • Visayas
    • Mindanao
  • Business
    • Corporate
    • Economy & Trade
    • Stocks
    • Money
    • Agri & Mining
    • Power & Tech
    • IT & Telecom
  • Sports
    • Basketball
    • Volleyball
    • Fightsports
    • Active
    • Sports Plus
    • One Championship
    • Columns
  • Entertainment
    • TV & Movies
    • Celebrity Profiles
    • Music & Concerts
    • Digital Media
    • Columns
  • Lifestyle
    • Food
    • Culture & Media
    • Fashion
    • Health and Home
    • Leisure
    • Shopping
    • Columns
  • Pop.Life
    • Newsmakers
    • Hangouts
    • A-Pop
    • Post Its
    • Performances
    • Malls & Bazaars
    • Hobbies & Collections
  • Technology
    • Gadgets
    • Computers
    • Business
    • Tech Plus
  • MS ON THE ROAD
    • Sedan
    • SUV
    • Truck
    • Bike
    • Accessories
    • Motoring Plus
    • Commuter’s Corner
  • Home & Design
    • Residential
    • Commercial
    • Construction
    • Interior
  • Spotlight
  • Gallery
    • Photos
    • Videos
  • Events
    • Seminars
    • Exhibits
    • Community
  • Biyahero
    • Travel Features
    • Travel Reels
    • Travel Logs
  • Pets
  • Advertise with Us

© 2021 Manila Standard - Designed and Developed by Neitiviti Studios.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In

Install Manila Standard Web App

Install App