Sunday, June 26, 2022

Taxing the casino winners


Debate in the Diet over the IR Implementation Bill has revealed that the Japanese government likely intends to tax any players who come out ahead in their casino gambling, though the matter is still being debated among the bureaucrats.

“Although we cannot say anything for certain at this moment,” stated Norio Yamana, a senior official at the National Tax Agency, “but in general any profits gained from gambling would be subject to taxation as temporary income.”

It is not clear whether or not that also means casino gambling losses could be reported for income tax reductions.

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