Posted 12/25/2023, 1:30:00 AM
Japan Approves Friendlier Crypto Tax Laws for Companies
- Japan has approved tax law changes favorable to companies holding cryptocurrencies, excluding year-end market value assessment taxation
- Companies will now only pay taxes on profits from selling crypto, aligning with rules for individual investors
- The changes aim to reduce the tax burden on companies engaged with crypto
- The revisions reflect requests by the Japan Cryptocurrency Business Association (JCBA)
- The changes are intended to stimulate domestic entrepreneurship in the crypto space