Japan market needs competitive tax rate, Singapore seen as benchmark: MGM

    Japan will need to introduce a competitive tax rate within Asia if it opens up its casino business, with the levels in Singapore seen as the target range, MGM Resorts senior vice president of global gaming development Edward Bowers told a panel meeting at G2E Asia on the potential for the Japanese market. Bowers said any higher than that and the rate would be considered less competitive and would start to reduce the amount the company would be prepared to invest in the market. A 5 percent deviation in the tax rate could have a multi-billion dollar impact on the amount MGM would spend, he said. Bowers also said it is still unclear as to whether Japan’s consumption tax, which currently stands at 8 percent, but is rising to 10 percent, would apply to GGR. “It’s a significant burden that needs to be factored in,” he said.