Japanese lawmakers considering whopping progressive casino tax

Japanese lawmakers considering whopping progressive casino tax

February 21, 2018 9:50 AM
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The Japan Times reports lawmakers are considering a whopping progressive tax on proposed Japanese casino/resorts that might reach 50 percent of gross gaming revenue.  

Such a casino tax would be significantly higher than gaming rates found in other parts of Asia, including Macau and would dwarf those paid by Las Vegas casinos, where the effective rate is only 7.75 percent.

Tax distribution would be equally split between the federal government and local cities that host the resorts. The money would be earmarked for social security provisions and programs to combat gambling addiction.

The country legalized commercial gambling in late 2016, but continues to work on details of implementing the new law, including tax rates and specific protections to prevent gambling addiction.