Dec 04 (Japan Times) - In a bid to attract more overseas gamblers, the chief of the ruling Liberal Democratic Party panel said Thursday that winnings by nonresident foreigners at Japanese casino resorts will not be taxed.
Although such resorts have yet to be established in Japan, it is hoped the envisaged tax exemption will provide impetus for operators to plan “integrated casino resort” projects — complexes that incorporate casinos, hotels, conference rooms and shopping malls — which the government is keen to promote.
Prime Minister Yoshihide Suga promoted the introduction of the casino resorts while in the role of chief Cabinet secretary under his predecessor Shinzo Abe, hoping to attract more foreign tourists to invigorate the economy in the wake of the Tokyo Olympics and Paralympics.
“It would be meaningless if no one comes to the integrated resorts after building them,” Akira Amari, head of the LDP’s Research Commission on the Tax System, told reporters after a closed-door meeting. He added that the casinos must be “on a par with international standards.”
The plan will be included in a tax reform package for fiscal 2021, which is expected to be compiled by the LDP and its junior coalition partner Komeito party on Dec. 10.
Under current arrangements, winnings at the casinos would be taxed in the same way as money won through bets on horse racing. For residents in Japan, taxes will be imposed based on the winnings they declare, according to Amari.
Source: ANNnewsCH
