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Japan Exempts Token issuers From 30% Crypto Tax on Paper Gains
Summary: According to a law revision by the National Tax Agency of Japan, token issuers in Japan are no longer required to pay corporate taxes on unrealized cryptocurrency gains. The new cryptocurrency tax regulation was introduced as part of the 2023 tax reform plan. Under these regulations, token issuance companies in Japan are exempted from paying ...
According to a law revision by the National Tax Agency of Japan, token issuers in Japan are no longer required to pay corporate taxes on unrealized cryptocurrency gains.
The new cryptocurrency tax regulation was introduced as part of the 2023 tax reform plan. Under these regulations, token issuance companies in Japan are exempted from paying a fixed corporate tax rate of 30% on the tokens they hold. Before this law, even unrealized gains were subject to taxation.
The approval of this legal revision signifies the Japanese government's commitment to advancing the cryptocurrency industry. This measure is expected to provide a better operating environment for token issuers and position Japan as a hub for innovation and investment.
Author: Katie Lin
Tags: corporate taxes,Cryptocurrency,gains,Japan,National Tax Agency,token issuers,unrealized
Link: Japan Exempts Token issuers From 30% Crypto Tax on Paper Gains [Copy]
