gambling taxes tagged posts

Japan Eyes 50% Casino Tax

February 21, 2018 Taxation in Japan

Japan's casino taxesTOKYO – Japan’s upcoming casino rules could come with a hefty tax burden of up to 50 percent.

New information circulating in Japan’s national media indicate that the government intends to introduce some punitive taxes on the revenues earned in casinos across the country.

Casinos are not yet legal in Japan, and, currently, work is being done to legalize and allow the operation of Integrated Resorts which include casino facilities.

The new information indicates that these Resorts will face a tax on their revenues of 30 percent.

Any facilities which see revenues exceeding JPY 300 billion will face a tax of 40 percent, while those with revenues of JPY 400 billion will face an even more punitive tax rate of 50 percent.

The rates are much higher than the 7...

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Argentina’s Gambling Tax An Utter Flop

February 2, 2018 Taxation in Argentina

gambling taxBUENOS AIRES – Argentina’s online gambling tax has seen a spectacular failure, having brought in a total of ARS 0 during the course of 2017.

Argentina’s online gambling tax not only failed to bring in the revenues expected by the government, but also failed to raise any money at all in 2017, according to new information released in the local press.

From January 1st 2017 all online gambling activity of taxpayers in Argentina was subject to a federal tax of 2 percent.

The tax was meant to be collected by credit card issuers when a deposit was detected into the account of a gambling website, regardless of whether the operator was based in Argentina or not.

However, the tax has so far failed to raise any tax revenues as all payments into the gambling websites moved away from credit card pa...

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Kenya’s Gambling Taxes Are Too High

January 10, 2018 Taxation in Kenya

Online blackjackNAIROBI – Kenya’s heavy-handed approach to taxing gambling operators may drive some businesses out of the country.

A new report issued by the international consultancy PricewaterhouseCoopers shows that the tax burden faced by gambling operators in Kenya is higher than any of its regional neighbours and most developed countries.

As of January 1st 2018 the rate of tax faced by gambling companies is 35 percent on all gambling revenues, with no allowances for deductions.

In comparison, the rate levied in Tanzania, South Africa, Uganda, and Rwanda, are 6 percent, 9.6 percent, 13 percent, and 20 percent respectively.

Similarly, Germany, the UK, and Canada have rates of 5 percent, 15 percent, and 20 percent.

The treasury claims that the high rate of tax is needed to protect vulnerable people...

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Lotto Winnings May be Taxed in Philippines

March 1, 2017 Taxation in Philippines

Taxes on lottoMANILLA – Lotto winners in the Philippines may soon see a portion of their winnings shaved of by the taxman, unless the government listens to the Sweepstakes Office’s pleas.

On February 28th Jose Jorge E. Corpuz the chair of the Philippine Charity Sweepstakes Office (PCSO) said that his department opposes a new proposal to drop the tax exemptions currently available on winnings from lotto, sweepstakes and horse-racing.

If the proposal is passed, winnings would see taxes of up to 20 percent.

Jose Jorge E. Corpuz claimed that the number of people participating in lotto and similar activates would drop significantly after consumers felt the effects of the tax on their winnings.

Explaining this possible effect, the chair of the PCSO said “…if you’re looking to win, for example, P132 million ...

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Macau Advised to Cut Gambling Taxes

January 11, 2017 Taxation in China

gambling taxesMACAU – Macau needs to reduce the taxes on VIP gamblers, or face the risk of losing out to other gambler-friendly countries in the region.

According to the results of new research conducted by Wang Changbin, an academic at the Gaming Teaching and Research Centre of the Macao Polytechnic Institute, the government of Macau should lower its taxes on gambling, in order to stay competitive in Asia.

Currently the overall tax burden faced by Casinos in Macau equates to an average of 39 percent on all gambling revenues, although the exact rate may vary based on the exact nature of the gambling and the clientele.

Wang Changbin suggested that Macau could investigate the feasibility of implementing a tax model similar to the one used in Singapore.

Gambling taxes in Singapore are currently set at 15...

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