Japan tax commissioner confirms casino winnings of foreign visitors will be tax exempt - IAG
Thursday 3rd December 2020
Former Japan Finance Minister Eisuke Sakakibara named chairman of Yokohama's Operator Selection Committee
Akira Amari, chairman of the Liberal Democratic Party's tax commission, confirmed on Thursday the government's intention to adjust the tax system so that "winnings" earned in an IR's casino would be tax exempt for foreign visitors to Japan. The plan was detailed to reporters following a meeting of the LDP's tax commission Thursday morning.
"It should be fine to employ the method of tax exemption based on international standards," Amari said in regard to foreigners, adding, "If no one comes to an IR we develop, then it will all be pointless. We need to keep with international norms."
There had previously been a proposal from the Ministry of Finance to tax casino winnings - a concept that was met with dismay by potential investors - however this direction now looks certain to be scrapped.
Under the revised plan, Japanese locals would be taxed in a similar way to other public sports and horseracing, where income tax is taken if winnings exceed a certain amount.