Japan becomes more friendly towards Gambling

djgtr

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Quote from: Vishnu.Reang on December 09, 2020, 01:14:11 AM

Quote from: Strongkored on December 09, 2020, 01:05:10 AM

Quote from: Rengga Jati on December 08, 2020, 07:37:27 PM

In this case, Japan has indeed become a country that is very friendly to cryptocurrency, gambling, and various other developments.

Yeah Japan is a country that crypto friendly, and with the low tax on gambling is one indication of their more friendly to crypto, because at this pandemic many online casinos have sprung up by adding crypto as payment at these casinos.
In my opinion, Japan is not a country that focuses income only on taxes but other things that should be exemplified by other countries.

Let's not forget the fact that Japan was one of the first countries to legalize cryptocurrency, far ahead of the United States and the European Union. Their capital gains tax rates are also low when compared to most of the other countries. They have a progressive, forward-thinking government and it helps in boosting the economy after such a devastating pandemic.

If other neighboring countries will adapt this ways of thinking that's not impossible we can acquire good results to boost our economy in the future. Taxes regulations would fairly be imposed depending on the income of a specific gambling operation particular with online platforms that caters different branches of potential users.

RealMalatesta

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With a market as large as japan, it was inevitable for gambling to reach japan and become something more common. It is a very very rich nation compared to many others and it was impossible to think that Japanese people didn't gamble at all, they did gambled a lot but they didn't do it legally, they used illegal online places for their gambling for sure, every nation that bans gambling in today's world is just kidding itself, there are people who gamble in every single nation and there are tens of thousands of them even on the most strict nations.

However if you let it become an industry, if you let it be something that is profitable for the nation to tax, you could at least take advantage of the situation and instead of banning it and missing out on tax revenue, you will gain something from it.

NeilLostBitCoin

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Quote from: Rengga Jati on December 08, 2020, 07:37:27 PM

Of course, this will create or affect countries where they impose high taxes on their citizens when playing gambling. And if this happens, gamblers may prefer to play gambling on other countries' platforms. One of them is to avoid taxes. Maybe this will have an impact on the income of other countries. However, I am not sure whether there will be many countries like this or not. Or maybe they will evaluate their taxes.
Well, it seems interesting, but it's not necessarily going to go well.
In this case, Japan has indeed become a country that is very friendly to cryptocurrency, gambling, and various other developments.

Can't deny the fact that in the middle of this global pandemic the government of one country can only generate an income if they were going to support the gambling business which today has a trend of online gambling much more safe than the usual gambling like casino where they entertain players or gamblers. That's why it isn't impossible that government leaders of each country will going to become considerate in the gambling business.

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Quote from: Strongkored on December 09, 2020, 01:05:10 AM

Quote from: Rengga Jati on December 08, 2020, 07:37:27 PM

In this case, Japan has indeed become a country that is very friendly to cryptocurrency, gambling, and various other developments.

Yeah Japan is a country that crypto friendly, and with the low tax on gambling is one indication of their more friendly to crypto, because at this pandemic many online casinos have sprung up by adding crypto as payment at these casinos.
In my opinion, Japan is not a country that focuses income only on taxes but other things that should be exemplified by other countries.

It will be better to accept crypto for gambling because it can attract crypto users to try to gamble using crypto. That will give benefits to the country since I think many people already know about crypto, making them curious about crypto gambling. If Japan is not focused on income, if they can get more money from the taxes, that will be a good way for the country to recover from the pandemic. The gambling industries in that country can become bigger as the foreign gambler allow to play in that country.

Vishnu.Reang

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Quote from: Strongkored on December 09, 2020, 01:05:10 AM

Quote from: Rengga Jati on December 08, 2020, 07:37:27 PM

In this case, Japan has indeed become a country that is very friendly to cryptocurrency, gambling, and various other developments.

Yeah Japan is a country that crypto friendly, and with the low tax on gambling is one indication of their more friendly to crypto, because at this pandemic many online casinos have sprung up by adding crypto as payment at these casinos.
In my opinion, Japan is not a country that focuses income only on taxes but other things that should be exemplified by other countries.

Let's not forget the fact that Japan was one of the first countries to legalize cryptocurrency, far ahead of the United States and the European Union. Their capital gains tax rates are also low when compared to most of the other countries. They have a progressive, forward-thinking government and it helps in boosting the economy after such a devastating pandemic.

Strongkored

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Quote from: Rengga Jati on December 08, 2020, 07:37:27 PM

In this case, Japan has indeed become a country that is very friendly to cryptocurrency, gambling, and various other developments.

Yeah Japan is a country that crypto friendly, and with the low tax on gambling is one indication of their more friendly to crypto, because at this pandemic many online casinos have sprung up by adding crypto as payment at these casinos.
In my opinion, Japan is not a country that focuses income only on taxes but other things that should be exemplified by other countries.

Sithara007

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Quote from: Natalim on December 08, 2020, 07:09:03 PM

The increase of revenue is the answer, they need more funds to recover as the pandemic made the government spend more than their allocated funds before the pandemic, remember that covid-19 was surprise, everyone wasn't expecting it to cause this huge damage directly or indirectly to our economy and in every part, government always plays a big rule to help the people to survive.

Even here in India, the government spending has increased due to the pandemic. On the other hand, the revenues have gone down by a large amount, as a result of the economic slowdown. The government is walking on a tightrope here. So far, they have refrained from increasing the tax rates. But for how long they can manage things like this needs to be seen. I am foreseeing an increase in the GST rates sometime next year, to cover the revenue shortfall.

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In general countries should ease up their taxes especially in times of pandemic and just continue regulating them and make them compliant and protect the interest of the bettors that they are not going to lose their money, right now online gambling site is such a big help for the country where they are in, because the revenue is not slowing down so the taxes keeps coming in.

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Quote from: Natalim on December 08, 2020, 07:09:03 PM

Quote from: adzino on December 08, 2020, 05:17:10 PM

Curious, how is it going to aid in post covid recovery?

The increase of revenue is the answer, they need more funds to recover as the pandemic made the government spend more than their allocated funds before the pandemic, remember that covid-19 was surprise, everyone wasn't expecting it to cause this huge damage directly or indirectly to our economy and in every part, government always plays a big rule to help the people to survive.

The government needs more money to recover from the covid-19 and to build the economy after the pandemic. That will cost huge money before they can start their economy, and if they can get the money from the gambling industries, that will help them have the money. Even if the foreign gamblers don't have to pay the taxes if they win much money, they will spend their money gambling. Not all of them can win much money, and some of them will lose the money, which will be the revenue for the casino. If their revenue can grow, that means the casino can pay the taxes, and the amount will be different than the other casino.

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Quote from: imstillthebest on December 08, 2020, 02:15:26 PM

Quote from: hahay on December 08, 2020, 11:34:36 AM

, I guess gambling is still gambling. Because even though gambling has become more friendly, basically anyone will find it difficult to get a lot of money from gambling. All that remains to be realized and considered, because a friendlier tax does not mean it makes it easy for you to win bets. Wink

gambling will not be just a gambling anymore but it will be a companion to the people playing on there .
companion because they can now play more often because restrictions are now removed and its hard to say this but this can lead to more losses for the gambler .
getting huge sums in gambling is already unlikely anyway but many gamblers still think of that .
they better remove that mindset of them and if they will only treat gambling as a form of entertainment i will going to be happy with them .

The Japanese government get more friendly to gambling to encourage gamblers to play more and is just an act from the ending to ease people's burden during the pandemic season. Besides, I believe this will attract more foreign gambling companies.
With that been said, I must commend the Japanese government because they always ready to do everything possible to make things more comfortable for their people and foreigners remember they are among the Asian country to totally support crypto when the Chinese were against it.

Rengga Jati

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Of course, this will create or affect countries where they impose high taxes on their citizens when playing gambling. And if this happens, gamblers may prefer to play gambling on other countries' platforms. One of them is to avoid taxes. Maybe this will have an impact on the income of other countries. However, I am not sure whether there will be many countries like this or not. Or maybe they will evaluate their taxes.
Well, it seems interesting, but it's not necessarily going to go well.
In this case, Japan has indeed become a country that is very friendly to cryptocurrency, gambling, and various other developments.

Natalim

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Quote from: adzino on December 08, 2020, 05:17:10 PM

Curious, how is it going to aid in post covid recovery?

The increase of revenue is the answer, they need more funds to recover as the pandemic made the government spend more than their allocated funds before the pandemic, remember that covid-19 was surprise, everyone wasn't expecting it to cause this huge damage directly or indirectly to our economy and in every part, government always plays a big rule to help the people to survive.

adzino

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Quote from: fiulpro on December 07, 2020, 07:39:02 AM

According to the recent reports Japan after realizing how the taxation on IR's can fail to attract foreign players removed the taxation on the gambling winnings in IRs. Now people can enjoy a more gambling friendly environment **particularly the foreigners**.
The government is working towards building the policies according to the international standards.
- full reforms will be announced on 10 December
- the citizens will still be taxed if their winnings exceed a certain amount

I do believe that this is a very positive thing, it will attract more people for sure and can even aid in post covid recovery.

https://www.gamblinginsider.com/news/10577/japans-irs-wont-tax-winnings-of-foreign-visitors

Share your thoughts?? Would things like this benefit other countries too?

So more friendly towards gambling for foreigners only? You see what Japan is doing over here? Attracting more foreign gamblers. Make foreign gamblers gamble while they visit their country (and get taxed in their home country. Some countries do have laws where you have to pay taxes no matter where you gamble), they lose everything to the casino and the government gets taxes from the casino (this time being able to claim more taxes from the gambling industry due to rise of foreign gamblers). Good move by the government to get more indirect revenue from foreigners.
Curious, how is it going to aid in post covid recovery?

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Quote from: fiulpro on December 07, 2020, 07:39:02 AM

According to the recent reports Japan after realizing how the taxation on IR's can fail to attract foreign players removed the taxation on the gambling winnings in IRs. Now people can enjoy a more gambling friendly environment **particularly the foreigners**.
The government is working towards building the policies according to the international standards.
- full reforms will be announced on 10 December
- the citizens will still be taxed if their winnings exceed a certain amount

I do believe that this is a very positive thing, it will attract more people for sure and can even aid in post covid recovery.

https://www.gamblinginsider.com/news/10577/japans-irs-wont-tax-winnings-of-foreign-visitors

Share your thoughts?? Would things like this benefit other countries too?

Without a doubt this is a movement in the right direction and they are doing this at the perfect time because as we know the Olympic Games are slowly approaching and obviously many people are going to want to bet on those events, especially people from other countries that go to Japan to see the events in person, so is important that they make the reforms now so people can have the best possible experience in Japan and they may decide to go again now to see the country and not the Olympic Games.

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Quote from: Vaculin on December 08, 2020, 08:16:42 AM

Most of the gamblers does not gamble a lot of money, so probably they will all be exempt on tax as there's certain amount that they should not exceed.

Exactly, there are more benefactors as most of the gamblers can limit itself or don't have that such amount to wager,
they're going to free of taxes while enjoying the game.

Quote

For high rollers, it will help them to minimize their tax liability due to this news but it would be nice if they will not tax the gamblers as in reality it's really the casinos who are making money.

It will attract more high rollers if they carry out this, but given that tax this kind of
gamblers are always present as they can get special treatments and VIP privileges from the house.

Quote

The more they attract gamblers, the bigger the increase of their revenue, and with that the government will benefit on the tax they'll collect on the casino operators.

Sure deal from the government, the more money that be played the more collections from the operators.
Just collect and collect as long as the business are running from their jurisdiction.

imstillthebest

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Quote from: hahay on December 08, 2020, 11:34:36 AM

, I guess gambling is still gambling. Because even though gambling has become more friendly, basically anyone will find it difficult to get a lot of money from gambling. All that remains to be realized and considered, because a friendlier tax does not mean it makes it easy for you to win bets. Wink

gambling will not be just a gambling anymore but it will be a companion to the people playing on there .
companion because they can now play more often because restrictions are now removed and its hard to say this but this can lead to more losses for the gambler .
getting huge sums in gambling is already unlikely anyway but many gamblers still think of that .
they better remove that mindset of them and if they will only treat gambling as a form of entertainment i will going to be happy with them .

carlfebz2

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Quote from: hahay on December 08, 2020, 11:34:36 AM

Basically Japan does accept gambling, and this reform is certainly good news. Any attempt at attracting foreign players was basically an expected increase as well, but despite the new policies regarding taxation related, I guess gambling is still gambling. Because even though gambling has become more friendly, basically anyone will find it difficult to get a lot of money from gambling. All that remains to be realized and considered, because a friendlier tax does not mean it makes it easy for you to win bets. Wink

Its just dumb for you to think that these kind of regulation issues or acceptance would be connected into your winning probabilities with gambling.Who does that?

Only people that arent on their right thinking will be having this kind of perception.So im bit confused on where you do get this kind of sentiment about connecting
it on winning chance.

Of course gambling is gambling and neither those regulation is on positive or negative side.It wont really be connecting about on how you gonna win with it.
Overall this is a good news but also a normal thing to be done when you do really mind of about taxation and revenues (governments point of view).

bonjouros

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It is a pretty good news especially to foreigners as they will benefit to the action of Japan where they removed the taxation of gambling winnings instead they will only put a tax once a certain amount will be reach.

Tax can sometimes damage our mood in gambling especially if it is kinda high therefore enjoying this kind of benefit is pretty interesting and I love how Japan change their minds in order to attract foreign players.

hahay

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Basically Japan does accept gambling, and this reform is certainly good news. Any attempt at attracting foreign players was basically an expected increase as well, but despite the new policies regarding taxation related, I guess gambling is still gambling. Because even though gambling has become more friendly, basically anyone will find it difficult to get a lot of money from gambling. All that remains to be realized and considered, because a friendlier tax does not mean it makes it easy for you to win bets. Wink

Cling18

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Quote from: fiulpro on December 07, 2020, 07:39:02 AM

According to the recent reports Japan after realizing how the taxation on IR's can fail to attract foreign players removed the taxation on the gambling winnings in IRs. Now people can enjoy a more gambling friendly environment **particularly the foreigners**.
The government is working towards building the policies according to the international standards.
- full reforms will be announced on 10 December
- the citizens will still be taxed if their winnings exceed a certain amount

I do believe that this is a very positive thing, it will attract more people for sure and can even aid in post covid recovery.

https://www.gamblinginsider.com/news/10577/japans-irs-wont-tax-winnings-of-foreign-visitors

Share your thoughts?? Would things like this benefit other countries too?

The government won't allow it if it isn't beneficial to them. It could be another way for them to attract tourist and have another source of taxes. They will surely tax it but that won't affect the gamblers that much because gamblers will always find ways no matter how huge the tax is.
In fact, even at times when gambling is prohibited in their country, there are already gamblers who find ways just to gamble. They do it online or they even travel just to play so I think it will be a win-win situation for them.

Topic: Japan becomes more friendly towards Gambling (Read 833 times)