Cryptocurrency News

[Rawlens]

Japan Wants To Change Crypto Taxation, Has Doubts Over Public Acceptance
During the Upper House budget committee meeting that took place on June 25 in Japan, the Japanese Finance minister and Deputy Prime Minister said they would change how crypto transactions are currently taxed in Japan. As reported by Reuters, the minister, however, thinks the public might not accept this change in taxation of cryptocurrency transactions. Currently, all gains as a result of crypto transactions are simply taxed as miscellaneous income which is subject to a comprehensive taxation whereby the tax rate is arrived at as per the amount including other salaries like income. According to the explanation by the National Tax Agency (NTA), Japan has about 7 income tax brackets which have tax rates that range from 5%-45% on earnings. Read more: https://marketexclusive.com/japan-wants-change-crypto-taxation-doubts-public-acceptance/2018/06/