Akira Amari, head of the Liberal Democratic Party tax panel, has said winnings will be tax free for visitors from overseas.
Japan.- Akira Amari, head of the Japanese Liberal Democratic Party tax panel, has said the government does not plan to tax the winnings of non-resident foreigners at the country’s future integrated resorts.
According to the current thinking, winnings at the casinos would be taxed in the same way as bets on horse racing, with no taxes for foreigners. Locals would pay tax on the winnings they declare.
Initially, Japan intended to move ahead with its bidding process for integrated resorts this year, but deadlines were delayed due to the pandemic.
The hope of the Liberal Democratic Party is that the tax exemption will encourage potential private partners to participate in request-for-proposal (RFP) processes, and also eventually increase the traffic to the integrated resorts once they open.
Prime Minister Yoshihide Suga promoted the introduction of the casino resorts while in the role of chief Cabinet secretary under his predecessor Shinzo Abe.
Amari said after a meeting on Thursday that “it would be meaningless if no one comes to the integrated resorts after building them.” He said Japanese casinos should be “on a par with international standards.”
The decision to allow tax-free winnings for non-resident punters is expected to be included in the fiscal tax reform package scheduled for later this month.