Bitcoin Forum
September 19, 2018, 04:11:52 AM *
News: ♦♦ Bitcoin Core users must update to 0.16.3 [Torrent]. More info.
 
   Home   Help Search Donate Login Register  
Pages: [1]
  Print  
Author Topic: [2018-06-27] Japan's Finance Minister Balks at Changing Crypto Tax Rules  (Read 20 times)
moriskarlov
Sr. Member
****
Offline Offline

Activity: 532
Merit: 252


WeiDex - TURN YOUR WEI INTO ETHERS


View Profile
June 27, 2018, 07:28:00 AM
 #1

Japan's top financial official is cautious about the idea of his nation changing how it taxes gains from cryptocurrencies.

During a meeting with the budget committee of the Upper House on June 25, Senator Kenji Fukimaki asked whether Japan's tax policy on cryptocurrency profits could be changed from its current "miscellaneous income" classification to "separate declared taxation," Reuters reported. Taro Aso, the deputy prime minister and minister of finance, said he was cautious about making such a change.

Aso explained that, in his view, it was "doubtful" that the general public would understand such a change. He cited the "international nature" of cryptocurrency as one reason why Japanese residents might dislike a change in tax classification. The finance minister also said he was unsure about the "tax fairness" of implementing such a change.

At present, profits earned by investors in cryptocurrency can be taxed between 15 and 55 percent, due to the miscellaneous income rules, according to Bloomberg. Stock profits, which are treated more like separate declared taxes, are taxed at roughly 20 percent in the country.

While the finance official has doubts about cryptocurrency taxation, he still expressed support for blockchain technology in general, saying they have uses apart from cryptocurrencies.

https://www.coindesk.com/japans-finance-minister-balks-at-changing-crypto-tax-rules/


██████████                    █████████
 ████████▀       ████        ▀████████
  ███████       ███████        ██████
   ███████     █████████      ██████
    ███████   ███████████    ██████
     ███████   ▀▀█████████  ██████
      ███████████    ████████████
       ███████████    ██████████
        █████████      ████████
         ███████        ██████
          █████          ███
weiDex||
WHITEPAPER
|
█▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀█
█ ███████████████████████ █
█ █████████████████▀▀  ██ █
█ █████████████▀▀      ██ █
█ █████████▀▀   ▄▄     ██ █
█ █████▀▀     ▄█▀     ███ █
█ █▀▀       ▄█▀       ███ █
█ ███▄    ▄█▀         ███ █
█ ██████  █          ████ █
█ ██████  █ ▄███▄▄   ████ █
█ ████████████████▄▄▄████ █
█ ███████████████████████ █
█▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄█
JOIN OUR TELEGRAM
FACEBOOKWEBSITE
TWITTER     ⚫ BITCOINTALK
1537330312
Hero Member
*
Offline Offline

Posts: 1537330312

View Profile Personal Message (Offline)

Ignore
1537330312
Reply with quote  #2

1537330312
Report to moderator
1537330312
Hero Member
*
Offline Offline

Posts: 1537330312

View Profile Personal Message (Offline)

Ignore
1537330312
Reply with quote  #2

1537330312
Report to moderator
1537330312
Hero Member
*
Offline Offline

Posts: 1537330312

View Profile Personal Message (Offline)

Ignore
1537330312
Reply with quote  #2

1537330312
Report to moderator
Make a difference with your Ether.
Donate Ether for the greater good.
SPRING.WETRUST.IO
Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction. Advertise here.
1537330312
Hero Member
*
Offline Offline

Posts: 1537330312

View Profile Personal Message (Offline)

Ignore
1537330312
Reply with quote  #2

1537330312
Report to moderator
1537330312
Hero Member
*
Offline Offline

Posts: 1537330312

View Profile Personal Message (Offline)

Ignore
1537330312
Reply with quote  #2

1537330312
Report to moderator
Proton2233
Sr. Member
****
Offline Offline

Activity: 420
Merit: 252


View Profile
June 27, 2018, 09:46:02 AM
 #2

I used to think that Japan is one of the most loyal countries for bitcoin. But I have long realized that this is not so. Excessive regulation of the cryptocurrency market in Japan has forced many crypto-currency platforms to leave this country. Surely there are smarter governments in the world that will understand that it is better to have a few taxes than to have nothing.
Pages: [1]
  Print  
 
Jump to:  

Sponsored by , a Bitcoin-accepting VPN.
Powered by MySQL Powered by PHP Powered by SMF 1.1.19 | SMF © 2006-2009, Simple Machines Valid XHTML 1.0! Valid CSS!