Japan to revisit IR tax guidelines, foreigners likely exempt from tax on winnings
Wednesday 02 de December 2020 / 06:10
2 minutos de lectura
(Japan).- Akira Amari, tax investigation chairman of the Liberal Democratic Party, announced on 26 November that changes to the tax environment relating to integrated resorts would be reflected in the 2021 tax reform, to be outlined in December.
Amari told reporters that the government would decide on the IR basics in the tax reform, and will establish a tax system prior to IR operator selection by local governments. The stance of the party was revealed after an executive meeting at the party headquarters on that day.
Regarding an IR tax system, the issue is how tax on the winnings of customers at a casino facility will be treated.
Amari explained, “If we don’t decide a system of taxation, it will be completely unpredictable and no operators will want to be involved.”
The Ministry of Land, Infrastructure, Transport and Tourism is requesting tax reform to eliminate the need for withholding tax on winnings and for it to be declared on a tax return as temporary income.
Further, Amari expressed his opinion that the taxation system would become the international standard. There are expected to be discussions to ensure cashouts from foreign customers are tax exempt.
In December 2019 the government and ruling party considered making it mandatory for operators to record the purchase amounts of chips by customers as well as wins and losses at Japan’s casino so that a withholding tax could be taken on winnings.
However, this method of taxation acts as a deterrent to customers and there are concerns it would therefore place an unnecessary burden on operators.
Categoría:Casino
Tags: Sin tags
País: Japan
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