E-Games Industry Boasts Projected P250 Billion Business, Generates Billions in Tax Revenue for Philippines

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E-Games,Tax Revenue,Philippines

The Philippine government stands to gain up to P20 billion in tax collections from the booming e-games industry. Data shows a significant rise in revenue, with P13.3 billion collected in 2023 compared to P8.5 billion in 2022. The industry is projected to reach P250 billion by Pagcor Chairman Alejandro H. Tengco, despite concerns about regulation and the grey market.

THE government stands to gain up to P20 billion in tax collections from the rise of the electronic gaming industry, according to the Department of Finance .

The Philippine Amusement and Gaming Corporation is mandated to remit the 5 percent franchise tax it collected from its licensees to the BIR. Gatchalian, the chairman of the Senate Ways and Means Committee noted the surge in e-gaming revenue in his news conference. Besides e-gaming, they are also looking at the special class of BPOs in ecozones, which are seeking exemption from the Pogo ban.

 

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