Connect with us
SoftSwiss
SIS

Asia

Japan Foregoes Controversial Tax on Casino Winnings

Niji Narayan

Published

on

Japan Foregoes Controversial Tax on Casino Winnings
Reading Time: < 1 minute

 

Akira Amari, head of the ruling Liberal Democratic Party’s Research Commission on Tax System, has confirmed that the proposed tax on the winnings of overseas gamblers at Japan’s future IRs will not be imposed.

“It would be meaningless if no one comes to the IRs after building them,” Amari said. He added Japan’s casino taxation policies must be “on par with international standards.”

The proposal to tax the casino winnings of foreign visitors created uneasiness in the industry from the first time it was brought to public attention in June 2018 during the deliberations over the IR Implementation Bill.

Japan residents will still face a tax on their casino winnings, although it’s not clear how serious an effort will be made by the government to track winnings and to enforce this policy.

Asia

Hokkaido Excludes IR from 2021 Budget

Niji Narayan

Published

on

Hokkaido Excludes IR from 2021 Budget
Reading Time: < 1 minute

 

Hokkaido has announced its initial budget for 2021 on February 19, with a 15.4% (JPY432.9 billion) increase over last year to JPY3.25 trillion (US$30.9 billion). This is the third-largest initial budget ever for the prefecture, which will now be proposed at the Hokkaido Prefectural Assembly regular session on February 25.

However, the fund for IR development was a notable absentee following a recent comment by Governor Naomichi Suzuki that an IR was not in the immediate future for Hokkaido.

Funds being set aside in prefectural budgets have traditionally been considered by experts as a strong indicator of a prefecture’s intentions regarding IRs. The fact that no funds have been set aside for IR development in Hokkaido’s 2021 budget appears to signal the death knell for any remaining glimmers of hope that Hokkaido could somehow jump back into Japan’s IR race.

At a press conference, Suzuki positioned the new fiscal year’s budget as “a budget that protects lives, livelihoods and creates a path for the future.” It is hoped this will help the prefecture navigate the COVID-19 pandemic and build a society resistant to infectious disease while also promoting Hokkaido’s future in a post-pandemic world.

Revenue has declined in the economic downturn and the prefecture’s financial situation is strained. Governor Suzuki commented, “We will firmly defend ourselves while at the same time starting on proactive policy. Balancing defense and offense has been difficult but we will accept the challenge to build a future for Hokkaido while controlling the pandemic.”

Continue Reading

Asia

Japanese Politician Raises Concerns Over China Blacklist on Overseas Casino Tourism Destinations

Niji Narayan

Published

on

Japanese Politician Raises Concerns Over China Blacklist on Overseas Casino Tourism Destinations
Reading Time: 2 minutes

 

The Japanese government has refrained from commenting following a question from House of Representatives member Kenji Eda regarding concerns that Japan’s first integrated resort developments could see the nation added to a blacklist being compiled by Chinese authorities on foreign casino destinations.

The blacklist, originally revealed by China’s Ministry of Culture and Tourism last August and expanded earlier this month, is said to comprise overseas tourist destinations that are “disrupting” China’s outbound tourism market by opening casinos targeting mainland Chinese customers. The blacklist system would see travel restrictions imposed on Chinese citizens going to overseas cities and scenic spots named on the blacklist.

Eda revealed via his personal blog that he had submitted a question regarding the blacklist and its potential impact on Japan’s IRs, stating, “In August 2020, China announced that it would create a blacklist system to restrict travel to foreign cities that had a casino, with the allegation that overseas casinos threatened the property and safety of their citizens. With that in mind, we can understand that there are concerns that overseas casinos are a hotbed of crime, particularly corruption and graft. I request an answer if the government is aware of this system.

“Further, this, adding to the impact of the coronavirus, could have a major impact on IR (casino) operation in East Asia, which relies heavily on wealthy Chinese visitors. In the past, The Chinese government has restricted travel to South Korea because of deployment of the US military’s ground-based missile interception system, and there is a risk they could use this system politically.

“Considering this system, even if we build casinos (IR) in Japan, we cannot have expectations that foreigners, and especially Chinese tourists, will be able to visit.”

In response, the government said, “We are aware that the Chinese government has announced the establishment of a system as you described in August 2020, but the specific details are yet to be announced so we will refrain from comment.”

Continue Reading

Asia

Internet Vikings Announces the Launch of a Cloud Hosting Platform in Singapore

Niji Narayan

Published

on

Internet Vikings Announces the Launch of a Cloud Hosting Platform in Singapore
Reading Time: < 1 minute

 

Internet Vikings has announced the launch of a cloud hosting platform in Singapore. The expansion will enable Internet Vikings to further scale its offering to Internet Service Providers, iGaming operators and e-commerce platforms targeted to South East Asia.

The new data centre will provide better performance and more direct connectivity options for latency-sensitive customers that require higher bandwidth.

“We are very excited to expand our network into one of the largest tech hubs of Southeast Asia to serve an active community of businesses and organizations with our VMware backed cloud hosting. With the new data centre in Singapore, Internet Vikings is improving the quality of its services to customers operating in Asian market by ensuring redundancy and low latency,” Victor Jerlin, CTO of Internet Vikings, said.

“The data centre in Singapore is the first one on the list of points of presence we are opening this year, but definitely not the last one. Our plan is to maximize our network following the vision of Internet Vikings – to be a leading managed service provider in hosting and online brand protection,” Peter Ekmark, CEO of Internet Vikings, said.

Continue Reading
Advertisement
NSoft
Advertisement
EvoPlay Entertainment
Advertisement
Kasyno Online na HEX Polska

Subscribe to our News via Email

Enter your email address to subscribe to our news and receive notifications of new posts by email.

Trending

Notice for AdBlock users

We are constantly showing banners about important news regarding events and product launches. Please turn AdBlock off in order to see these areas.