Wednesday, August 10, 2022

Casino winnings taxation policy delayed until next year


Some lawmakers have grown concerned that the proposed policy on the taxation of casino winnings is too heavy-handed, and a settlement of the issue has been delayed until next year.

“The burden on the business operators will be heavy, and it may reduce investment in Japanese casinos,” fretted one lawmaker to the Japanese media.

The proposed system would require Japan’s three casino operators to keep and store records of each individual gambler’s purchase of chips upon entering the casino, the amount of chips converted into cash when leaving, the amount of chips purchased at the gambling tables, and the results of each game.

The tax authorities would then use these records to determine if foreign tourists need to pay up before leaving the country, depending on the tax treaty that Japan has with each country.

This policy had been scheduled to be approved on Thursday.

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