Japan Grants 30% Tax Break to Crypto Companies, Boosting Business Conditions

By Lola Coin Jun 26, 202381Views

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The Japanese tax administration has implemented a 30% tax break for companies that issue cryptocurrencies. This comes as part of a revision to the country’s corporate tax rules. Previously, companies were taxed on unrealized gains at the end of a tax period, but under the new regulations, they will be exempt from this tax. The National Tax Agency stated that companies’ holdings would be excluded from the market evaluation of their assets if certain conditions are met. The introduction of these revised rules aims to improve business conditions for companies issuing cryptocurrencies in Japan. In addition to tax changes, Japan has also introduced stricter anti-money laundering measures to align with international standards. These measures include the enforcement of the “Travel Rule,” which requires financial institutions to share customer information when processing crypto transfers exceeding $3,000.

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