Hongsheng Gaming to pay $36 million taxes to Philippines
According to reports from the Bureau of Internal Revenue, Philippine tax officials are trying to recover about 2.23 billion pesos ($36.2 million) from Hongsheng Gaming Technology Ltd. for unpaid taxes. This includes corporate taxes, sales tax and withholding taxes. The company used to run an online…
According to reports from the Bureau of Internal Revenue, Philippine tax officials are trying to recover about 2.23 billion pesos ($36.2 million) from Hongsheng Gaming Technology Ltd. for unpaid taxes. This includes corporate taxes, sales tax and withholding taxes. The company used to run an online gambling operation with licenses granted to offshore gaming. Local authorities have raided Hongsheng’s facility in Tarlac province in 2024. It is suspected of being involved in some fraudulent schemes. Among the owners of that enterprise was Alice Go, a former mayor of Bamban City, who was called the “mayor of online gambling.” Baofu Land Development owned the property where Hongsheng operated. As reported by locals, he might have fled by helicopter organized by Guo. His last confirmed spot was Hong Kong in September 2024. A tax agency audit revealed that Hongsheng may have failed to pay approximately 2.2 billion pesos in taxes. In early August, the agency filed a criminal complaint with the Philippines’ Department of Justice. The Philippines completely banned offshore gaming companies from operating on January 1, 2025.