Philippines says China, not taxes, behind POGO exits


Source: agbrief.com agbrief.com

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The Philippines Finance Secretary Carlos G. Dominguez has defended the taxation of the online industry, saying China’s crackdown and not the new fiscal regime is to blame for the exodus of firms from the country. “I mentioned to people since 2018, China is sooner or later going to crack down on this [POGO],” he was cited as saying by local media. “Once the Chinese started cracking down on that, of course, the business will go down here.” In September, President Rodrigo Duterte signed a bill into law that imposes a 5 percent franchise tax on the gross gambling revenue of...