POGO article

[fillipino_wannabe]

No doubt it will all end in tears. In fairness to them the tax rate the Filipino government decided on is ridiculous for a casino, they're supposed to pay 5% of their total revenue before even mentioning taxes on their profits. Clearly not going to happen when their gross profit is probably 5-10%.

[Freebie]

4 hours ago, fillipino_wannabe said:

No doubt it will all end in tears. In fairness to them the tax rate the Filipino government decided on is ridiculous for a casino, they're supposed to pay 5% of their total revenue before even mentioning taxes on their profits. Clearly not going to happen when their gross profit is probably 5-10%.

The tears here if and when they leave/asked to leave will be

a. Customs.. but that door seems to have been recently closed

b. The floors of offices where they worked/ plus the IT services etc

c. Housing.. though its impact is mitiggated by the fact that they have crammed many into apartments so if 10 chinese left only one apartment would lose.

d. The chinese restaurants and little Asian stores. No loss to Filipinos as these are chinese invested or owned.

e. Employees.. POGOs employ some Filipinos who can get other jobs in casinos as dealers etc. Janitorial staff are all agency based so no real loss there I hope.

f. Drivers of the Alphards etc that shuttle the chinese around.

Not bucketfuls of tears as the chinese have tried as much as possible to keep all the money within the chinese circle. BIR might lose some but as the POGOs havent exactly been paying their taxes then you cant lose what you didnt have.