Japan’s Finance Minister Considers a Change to Crypto Taxation

Japan’s Finance Minister Considers a Change to Crypto Taxation

Japan Cryptocurrency Tax

Japan Cryptocurrency Tax: Taro Aso, the Deputy Prime Minister and the Minister of Finance for Japan, has concerns over cryptocurrency taxes in his country but believes it to be doubtful that the public would accept any changes made to the cryptocurrency taxation law.

Japan Cryptocurrency Tax

Currently, cryptocurrencies are taxed as “miscellaneous income”. Items taxed under this category can incur taxes up to 55%. However, Aso feels a better approach to cryptocurrencies is to tax them as “separate self-assessment taxation”.

This category would bring cryptocurrency taxes to a flat rate of 20 percent which …

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