Japan stops casino winnings taxation plan
Local authorities postpone the decision because they don’t want to scare casino investors
Japan.- The plan of the putting a tax on money won by foreigners will have to wait till next year. Japanese authorities postpone the decision because they don’t want to scare casino investors.
Japan’s ruling Liberal Democratic Party (LDP) to the Japanese media. “The burden on the business operators will be heavy, and it may reduce investment in Japanese casinos,” said
Earlier this month, Japan proposed integrated resorts would be required to record tourists purchases of gaming chips, compare them with chips redeemed for cash and impose a withholding tax on any surplus amounts.
The idea was to ensure the government got its fair share before their international guests flew the coop. Countries with mature casino markets, such as the US and South Korea, implemented similar systems.
