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No Taxes for Foreigners in Japanese Casinos Are Suggested

4 December 2020, 15:33
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Votes: 1

The upcoming Integrated Resort (IR) zones in Japan will probably have distinct taxation approaches imposed on locals and international tourists. The initiative to exclude foreigners from taxation was presented by Akira Amari, the Research Commission's head on the Tax System. According to the latest casino news, the unclear gambling taxation can influence IR's opening pace.

No Taxes for Foreigners in Japanese Casinos Are Suggested

The idea to open Integrated Resorts in Japan found positive feedback from the side of locals, but the discussions about taxation increased the vulnerability. The latest clarification concerning the topic made the situation even more confused.

Thus, Akira Amari presented the idea to exclude foreigners from the general taxation rules that will be applied in IRs. The government's representative explained such a proposition as a typical international gambling practice that attracts tourists to gambling establishments.

The regarded initiative comes in parallel with the unclear financial rules that will be applied to the Japanese gamblers. The desire to control spendings and earnings seems to be good enough for the state but frustrating for the people. Even the idea to copy the tax rates from the betting industry meets enough opposition.

Can this rule change the attitude of foreign investors?

A number of authoritative casino corporations like Caesars Entertainment, Las Vegas Sands, Genting Singapore, and Wynn Resorts have already decided to ignore Japan as the potential market due to its 30% tax on gaming income. The situation worsened because of the strange attitude of local governors that got into the scandals with licenses and bribes.

However, tax reviewing can change their attitude towards the Japanese casino market. As tourists are always the significant source of revenues in the gambling and entertainment venues, the green light for foreigners to visit casino halls is a positive change. Moreover, the taxation approach hasn't been proven yet, which means that governors can review other important financial questions and increase investors' interest from abroad.

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