Posted 12/5/2023, 8:53:00 PM
Japan Considers Ending Crypto Tax to Lure Startups
- Japan is considering ending the tax on some corporate crypto holdings to stem the flow of startups choosing other countries
- Japan currently taxes unrealized crypto gains, which is unusual compared to other countries
- The proposal would exempt cryptos held for purposes besides short-term trading from corporate tax based on annual mark-to-market valuations
- The move aims to make Japan more attractive for crypto startups compared to alternatives like Singapore and Dubai
- The proposal is being discussed by Japan's ruling coalition