The Japanese government has proposed a new crypto tax law that will be introduced in 2023 for companies.
Earlier, Watanabe Sota, CEO of Web3 infrastructure firm Stake Technologies Pte, said that in order to prevent entrepreneurs from leaving the country, Japan should minimize corporate taxes on crypto businesses.
The Japanese government has also proposed a 20% tax on income tax on cryptocurrency gains earned by individual investors, with an option to carry forward losses for the next three years from the next year. The Japanese government currently imposes a 55% tax on digital investors.
The reform of the tax law takes into account the development of cryptocurrencies in Japan and does not want to make it difficult for digital asset companies to operate, thereby hindering the development of cryptocurrencies in Japan, as the Japanese government reconsiders the corporate tax system.
The proposal states whether companies that own cryptocurrency assets will be taxed on profits from...
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