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MANILA, Philippines – The Bureau of Internal Revenue (BIR) shut down an online gaming firm for not paying the right taxes.
The BIR on Wednesday, September 25, halted the operations of Great Empire Gaming and Amusement Corporation (GEGAC). Its offices are located at the Subic Freeport, Eastwood in Quezon City, and Aseana City in Parañaque City.
Results of the investigation showed that GEGAC is not registered for value-added tax purposes, thus violating the tax code.
The government has formed an inter-agency task force led by the Department of Finance to go after tax-dodging Philippine offshore gaming operators (POGOs).
As of August, the BIR has collected P186 million in withholding taxes from POGOs and is set to get another P170 million in tax payments from these businesses employing foreigners.
The task force already sent 48 notices to POGOs. – Rappler.com
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