Japan tax reform proposal includes IR plans

Japan tax reform proposal includes IR plans

Analysts consider the tax proposal a confirmation of government interest in advancing with the IR project.

Japan.- Japan’s governing coalition has presented a tax reform proposal that mentions the taxation of the country’s proposed casino resorts.

The proposal includes three specific measures: to exempt from taxation the casino winnings of those not classified as residents in Japan; to limit purchase tax allowances on casino sales; and to clarify the taxation of casino prizes.

Analysts at banking group Nomura said the inclusion demonstrated the prime minister’s commitment of the prime minister to Japan’s casino liberalisation policy.

The group said: “This is an indication that, although the debate about integrated resorts has gone quiet because of the pandemic, the government is still intent on making them a reality”.

Up to three IRs will be permitted in Japan in the first phase of market liberalisation. The licences are due to be awarded in 2022.

Interested local governments must first find a private sector partner and then bid for one of the three licences that will be awarded.

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IR Japan legislation taxes