Japanese Regulator Aims to Reduce Crypto Tax to Revitalize the Market

[Lmaooo]

In October, the government of Japan hinted its plans to ease the process of taxing crypto investments to refrain impractical taxation frameworks from negatively affecting the local market.

At the time, a committee of tax experts that is tasked to advise the government on taxation matters encouraged the authorities to simplify the complex process of disclosing taxable amounts that occur in investing in the crypto market.

Prior to that, a local analyst said:

    “If the rapid growth of the cryptocurrency sector in late 2017 is considered, 331 is a number that is simply too low to be true. A large portion of cryptocurrency investors probably did not declare their earnings to the government.”

This week, Takeshi Fujimaki, a Japanese congressman and lawmaker, proposed four major changes to the taxation policies surrounding the digital asset market with the objective of revitalizing the market.

https://www.ccn.com/japanese-regulator-aims-to-reduce-crypto-tax-to-revitalize-the-market/

[Febo]

In October, the government of Japan hinted its plans to ease the process of taxing crypto investments to refrain impractical taxation frameworks from negatively affecting the local market.

At the time, a committee of tax experts that is tasked to advise the government on taxation matters encouraged the authorities to simplify the complex process of disclosing taxable amounts that occur in investing in the crypto market.

Prior to that, a local analyst said:

    “If the rapid growth of the cryptocurrency sector in late 2017 is considered, 331 is a number that is simply too low to be true. A large portion of cryptocurrency investors probably did not declare their earnings to the government.”

This week, Takeshi Fujimaki, a Japanese congressman and lawmaker, proposed four major changes to the taxation policies surrounding the digital asset market with the objective of revitalizing the market.

https://www.ccn.com/japanese-regulator-aims-to-reduce-crypto-tax-to-revitalize-the-market/

One Japanese congressman and lawmaker, proposed ...


He proposed. Why dont we wait what will other few 100 congressmen have to say.

[cindygirl]

One Japanese congressman and lawmaker, proposed ...


He proposed. Why dont we wait what will other few 100 congressmen have to say.

I can tell you near word for word what they'll say "no, I don't see any way in which this will benefit us, we should not be making it easier in order to encourage people to report their tax liabilities, we should find a way to punish those who do not".