Japan becomes more friendly towards Gambling - page 5.

kotajikikox

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Quote from: fiulpro on December 07, 2020, 06:39:02 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?

gambler will still gamble even how much is tax implemented because that will be deducted on their winnings meaning if they loss(that happens everytime ) they wont need to Pay for gambling taxes just for their work or business tax are the obligation.

But also this will Generate visiting tourist to gamble with that tax adjustments .

Quote from: Lavander on December 07, 2020, 09:57:13 AM

Wow what a great news, I was planning to go in Japan maybe after the Covid I hope they would successfully implement it I wanted to play on Japan's casino. I was not really familiar with local casinos does the casino prohibits foreigners to play?

I am not familiar of japan is also one of those country the prohibit Tourist to play but i know that only few countries has that law and i believe that japan is not one of those.

Lavander

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Wow what a great news, I was planning to go in Japan maybe after the Covid I hope they would successfully implement it I wanted to play on Japan's casino. I was not really familiar with local casinos does the casino prohibits foreigners to play?

fiulpro

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Quote from: winrate.io on December 07, 2020, 06:42:01 AM

I don't know if I could call more gambling "benefiting" more countries since gambling is pretty toxic Cheesy

But yes, it could definitely open up for more gambling.

Well I do believe that it actu I depends on the people who are getting involved with it there is something called ** gambling responsibly** which can not only be a leisure sports but can also help in the long run , the taxes from the gambling industry runs in millions and mostly governmental bodies are getting benefited during the COVID now.

Quote from: avikz on December 07, 2020, 06:48:29 AM

It's more of a trick to attract foreign travelers into the gambling industry within Japan. It wouldn't benefit the gambling industry in general apart from some additional footfall from the foreign nationals. Also considering that Japan has already legalized bitcoin, it might also benefit cryptocurrency a little. But I personally don't think it ia a major reform!

But yes, let's wait for the full announcement and I hope someone will be kind enought to provide us with a little summary of the announcement in English!

Well first of all since bitcoin is legal and they have now made gambling more lenient and are not asking for taxes from foreigners I do believe that this would mean crypto gambling will flourish in japan , which inturn could mean that other nations in good terms with japan can try and make sure they make such reforms too if in the future the government sees good effects from this decision. Plus most news can be translated from Japanese to English in your mobiles only so that will work.

Viscore

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Live with peace and enjoy life!

They are already in gambling before and this is not new to everyone since online gambling and casinos have been spread globally. It's a money maker and can't neglect that opportunity.

https://www.wsj.com/articles/japan-legalizes-casino-gambling-1532089986

What they are doing now is just to show globally that they are still not left from gambling. They want also their people to enjoy their life going to casinos or gambling online. And maybe, we got surprised that they are also imposing huge taxes on the owners if they saw things similar to the other countries that are increasing taxes.

crzy

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If they offer good casinos services, then tourist will come and play the game just like on Las Vegas and Macau. Well, they might lose much money for cutting off the taxes, I'm sure other industry will boom which is taxable. Gambling is fun we cannot deny this one but if you lose money and you still have to pay taxes, then I guess this is a different story. Japan is great country with a great culture, I'm sure they have better plans ahead but for now this is good for the gamblers and tourist.

plvbob0070

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I'm not really familiar with the gambling policies in Japan but aside from attracting attention to the gambling industry, this can also bring a positive impact on their tourism since foreigners could use this as an opportunity to gamble in Japan without having to pay tax when they win.

Quote from: fiulpro on December 07, 2020, 06:39:02 AM

Would things like this benefit other countries too?

If other countries would follow this, there's no guarantee that they will also benefit since it still depends on how they are going to promote gambling to attract foreign customers. But we still have to see how this tax reform will benefit Japan.

swogerino

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That can be good to small number of persons,more precisely to foreigners living there who may want to gamble.This is not a massive reform by any means but it can be good locally for Japan.Nowadays a lot of governments because of Covid come up with all sort of new tax reforms so in this point a view this is a good move from the Japanese government.

FlightyPouch

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Well, that is good news. I don't know if that would help the country in terms of Tourism but I don't think it can be a reason for someone to go to Japan as usually most people go there for other reasons like Anime, parks, and relaxation. As far as I know, there are a lot of casinos there but as I've said, I don't know if that would actually help the country or other country as well.

Mauser

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Quote from: fiulpro on December 07, 2020, 06:39:02 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?

This great news. I would love to see gambling being allowed in every country. In my opinion government's should support their citizen who want to gamble instead of making it illegal. Honestly I always thought Japan was already very open towards gambling. I remember when being in Tokyo they had these huge casinos all around the city center where you could play with some small metal balls it was similar to a spot machine but using balls instead of money to put in the machines. It was so loud in these places.

Fundamentals Of

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There is good and there is bad in this decision by the Japanese governments. In terms of additional revenue to the government, this may be considered good. There is definitely an additional income for them. But on the other hand, the government will also be spending more on social services related to combat possible addiction and other measures to make sure gambling will be adequately moderated. There is always negative consequences with gambling.

Wexnident

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Them taking this outlook in gambling itself just means that they finally acknowledge gambling is just a form of entertainment. They're basically asking for other countries to liven up the traffic of their gambling industry which is nice imo. Add on to that how Japan could honestly be considered the land of gacha, this is quite a positive outlook imo. Benefiting other countries though? I don't think so. It is still an industry aiming to profit for their own country, and again as I said, is just them asking us foreigners to fill up the traffic of their gambling business. I don't particularly know about their situation though, but I doubt it's a negative one? Just the concept of gacha itself is gambling and seeing as a lot of people from their country are quite the gacha players, I don't think gambling would be that shunned.

avikz

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It's more of a trick to attract foreign travelers into the gambling industry within Japan. It wouldn't benefit the gambling industry in general apart from some additional footfall from the foreign nationals. Also considering that Japan has already legalized bitcoin, it might also benefit cryptocurrency a little. But I personally don't think it ia a major reform!

But yes, let's wait for the full announcement and I hope someone will be kind enought to provide us with a little summary of the announcement in English!

winrate.io

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I don't know if I could call more gambling "benefiting" more countries since gambling is pretty toxic Cheesy

But yes, it could definitely open up for more gambling.

fiulpro

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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?

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