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Japan Eyes Tax Withholding on Casino Winnings by Foreigners

Japan Eyes Tax Withholding on Casino Winnings by Foreigners

   Tokyo, Nov. 27 (Jiji Press)--Japan's government and ruling camp are considering a system to withhold taxes on winnings by foreigners at casinos to be introduced as part of integrated resorts, informed sources said Wednesday.
   The system is being debated during discussions on fiscal 2020 tax system reforms, as are measures to prevent tax evasion by casino players.
   The government and the ruling camp, led by the Liberal Democratic Party, are considering obliging casino operators to keep records of chip purchases, amounts of chips converted into cash and win-loss results, the sources said.
   The forthcoming tax reform proposal for the year starting next April is unlikely to include drastic measures after the country raised the consumption tax to 10 pct from 8 pct on Oct. 1.
   Among other issues being debated is how to encourage companies to utilize their retained earnings for investments and support single parents who have not married, the sources said.

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AFP-JIJI PRESS NEWS JOURNAL


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