A significant tax hike for Philippine Offshore Gaming Operators (POGOs) could lead to an influx of companies looking to move to the Isle of Man, according to one industry expert. 

Egaming companies in the Philippines are facing a more-than-double tax hike after new rules were signed into law.

POGOs – companies licensed by the Philippine Amusement and Gaming Corporation (PAGCOR) to provide offshore gaming services – will have to pay 5% tax on turnover, replacing the previous 2% gross revenue tax.

Failure to comply could result in companies losing their PAGCOR licences and it seems many companies are exploring other options.