Philippines gaming regulator PAGCOR has expressed its “full support” for a crackdown by the Department of Finance (DoF) on any Philippine Offshore Gaming Operators (POGOs) found not to be paying their taxes.
As reported by Inside Asian Gaming, Finance Secretary Carlos Dominguez III issued an order on Sunday for the Bureau of Internal Revenue (BIR) to shut down delinquent POGOs after it was revealed that outstanding tax liabilities totalled Php21.62 billion.
In response, PAGCOR issued a statement of its own on Tuesday in which it said it “follows the law and is fully cognizant of the legal authority of the BIR under the DoF to close down tax-evading establishments” and was in the process of issuing a letter to all POGOs and service providers to such effect.
“Among the measures being implemented by the state-run gaming firm to hold POGO licensees accountable should they renege on their financial obligation are the imposition of interest on outstanding arrears, forfeiture of performance bond, imposition of demerits/administrative sanctions and charging of cash penalty, cancellation of license and endorsement to legal division for proper collection efforts,” it said.
PAGCOR also reiterated that a recently announced moratorium on the issuance of new POGO licenses remains in place.