ZURICH, Switzerland — President Ferdinand "Bongbong" Marcos Jr. said the government should find out if keeping Philippine offshore gaming operations (POGOs) will be beneficial to the country as banning them outright would need to have the right reason.
In an interview with Manila-based reporters here, the President said the government should determine the purpose of POGOs because he does not see any point in banning them.
"I don’t know what would be the point. It’s not a huge part of our economy," he said.
"If it’s adjudged that there is a social cost, it might not be worth it. The cost might not be worth what they’re paying in taxes anymore," he added.
The issue of banning POGOs has been lingering since the previous administration due to the different crimes like killings and kidnappings linked to its operations. Even Finance Secretary Benjamin Diokno is in favor of discontinuing POGOs.
In the interview, the President said the government should study POGOs as the problem lies with the illegal ones, which do not pay taxes, and not the ones that do.
"All of these things we should be continuously examining to see if it still continues to be a good idea for the Philippines," Marcos said.
"Right now, I have no great --- there’s no for me... I’d like to know what the motivation is for that, to ban them. There may be a good reason," he added.
The Bureau of Internal Revenue (BIR) said in October last year that taxes generated by the POGO industry amounted to P4.4 billion in the first eight months of 2022, up from the P3.91 billion collected over the full year in 2021.