South Korean casinos are currently taxed at an effective rate of 20% of gross gaming revenue
Jeju government tax grab
The eight foreigners-only casinos on the self-governing island province of Jeju may be looking at an increased tax bill.
2015-05-18
Reading time 25 seg
The eight foreigners-only casinos on the self-governing island province of Jeju may be looking at an increased tax bill.
On Monday, Korea Bizwire reported that the Jeju government had announced its intention to study its casino industry’s revenue.
Jeju is one of the country’s most popular destinations for Chinese tourists, leading to a pointed criticism from Beijing late last year for becoming the “new haven” for Chinese gamblers.
The Jeju government’s study will compare its casino taxation rates with those of other casino jurisdictions both at home and abroad, with a clear intention of prying more money out of casino operators’ wallets. The study’s results will be released in July.
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