Philippines Introduces New Income Tax For Casino Workers

Philippines Introduces New Income Tax For Casino Workers

Philippines Introduces New Income Tax For Casino Workers

The Philippines has implemented a new tax regime for more than 100,000 casino workers in the country. The new framework, which will impose a tax levy on the income of workers in the offshore gaming industry, whether foreigners or Filipinos, is aligned with the country’s tax laws and aims to tighten control over the gambling industry and regularize the many Chinese workers employed by Philippines casinos.

The government said the 55 licensed Philippine offshore gaming operators (POGOs) need to comply with the new regulations to maintain their license, and all their employees will have to participate in the Social Security System and the Home Development Mutual Fund (PAG-IBIG).

The Bureau of Internal Revenue said it will begin to withhold taxes from foreign workers this month, estimated to be worth USD3.4 million. Overall, the taxes to be collected from the industry are projected to reach USD418 million a year, officials said.

Read more here.

Related outsourcing resources

  • Top 40 BPO companies in the Philippines
    UPDATED: Welcome to the Top 40 BPO Outsourcing Companies In The Philippines.  The BPO (Business Process Outsourcing) industry plays a vital role in the emerging economy of the Philippines, and contributes over 11% to the GDP.  It is the single largest sector, employs over 1.2 million people, spre...  Read more
  • The strong future of outsourcing: White Paper
    A white paper, by Outsource Accelerator, exploring the trends, challenges, and initiatives in the outsourcing sector, and the unrecognized potential of the SME Sector as the potent success factor. Part I. Overview Introduction to outsourcing:  a recent search for efficiency The 1997 Asian financi...  Read more
  • Ultimate guide to outsourcing
    It takes courage and conviction to take your business down the outsourcing road. Outsourcing may include risks; which is why this guide was written to teach you on how to do it as safe as possible and also to maximize returns sooner. These days could be some of the most exciting times in your li...  Read more
  • Business Process Outsourcing (BPO) definition
    What is business process outsourcing? Business Process Outsourcing (BPO) is the engagement of services from a third-party provider. BPO uses various technology-enabled services to hasten the delivery of services. The business activities could be back-office such as, but not limited to, payroll, a...  Read more
  • How outsourcing can cut labor costs by up to 70%
    Outsourcing some of your business’s processes is a smart choice regardless if your company is a small startup that’s well on its track to become a multinational enterprise, or if you’re already there and you’re looking to expand your operations. By contracting work to other companies, your busi...  Read more
  • Mads Singers - Get the most out of your outsourced team
    Mads Singers Mads Singers is a management consultant, trainer and also outsources as well. He has an outsourcing operation down in Davao, Philippines. I had a really good conversation with Mads about how to motivate and run remote teams, and more importantly, how to get the best out of your outs...  Read more
Shares