Dec 10, 2020 Newsdesk Japan, Latest News, Top of the deck  
Japan’s governing coalition – the Liberal Democratic Party (LDP) and Komeito – announced on Thursday an outline tax reform plan for the fiscal year 2021, including a proposal that foreign visitors using any of the country’s planned casinos should not be taxed on any winnings.
Other people in Japan would, however, be taxed on casino winnings in a manner similar to how winnings are dealt with for wagers placed on the country’s state-run betting activities, according to information collated by GGRAsia’s Japan correspondent.
The governing parties also suggested there should be no consumption tax on casino gross gaming revenue (GGR).
Regarding corporate tax for eventual operators of integrated resorts (IRs) – as such schemes are known in that country – cash rebates paid by the house to customers should be deductible from taxable revenues. “Comps”, understood in the industry as meaning complimentary accommodation, food and drink, and other offers to clients, should also be treated as an advertising cost and should also be deductible from taxable revenues, according to the tax reform outline.
The tax reform plan will need to be subject to a resolution of the Japanese cabinet before it can take the form of a law bill to be submitted to the country’s parliament for consideration. Specific formulas for calculating casino-related tax items would also be discussed at a later date.
An enabling bill to Japan’s IR Implementation Bill, approved in July 2018, had clarified several key points regarding the country’s nascent industry. They included: an initial cap of three casino resorts nationwide; a 30 percent tax on casino GGR; and an entry levy of JPY6,000 (US$57) for Japanese citizens and residents wishing to enter such venues.
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Alejandro Tengco (pictured), chairman and chief executive of the Philippine Amusement and Gaming Corp (Pagcor), is to give the keynote speech for the opening of the SiGMA Asia conference for the...
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”The data and evidence on hand all point to the same conclusion: enough is enough. It is time to ban offshore gaming operations in the Philippines, once and for all”
Sherwin Gatchalian
Chairman of the Committee on Ways and Means of the Senate of the Philippines