Home CryptoCurrency News Japan’s Crypto Lobby Group Push For Tax Cuts; Here’s Why!
CryptoCurrency News - July 29, 2022

Japan’s Crypto Lobby Group Push For Tax Cuts; Here’s Why!

FSA has been in contemplation about the need for a corporate tax amendment for the crypto industry, as per a representative. It is not certain if the regulators have decided to include the adjustment plan in the yearly suggested alteration, this alteration to be presented is scheduled with the tax authorities in August.

The lobby groups also wanted to convince the government to impose a flat 20% income tax on the individual investors’ crypto gains. As opposed to 55% tax, the crypto lobby groups were insisting on a lower tax percentage which is to be levied.

5 BTC + 300 Free Spins for new players & 15 BTC + 35.000 Free Spins every month, only at mBitcasino. Play Now!

Masaaki Taira, member of House of Representatives of Japan had tried to convince his fellow MPs and Finance Ministry for tax amendments which could stop the talent from flowing out of the country. Fumio Kishida, Prime Minister of Japan, is yet to show if Japan’s intention to advance in Web3 technology will actualize by passing the decision to consider the tax modifications.

Related Reading | Japan’s Parliament Introduces Framework For Stablecoins To Protect Investors

Crypto
Bitcoin was priced at $23,800 on the four hour chart | Source: BTCUSD on TradingView
Featured Image from Protos, chart from TradingView.com

BitStarz Player Lands $2,459,124 Record Win! Could you be next big winner?

Get 110 USDT Futures Bonus for FREE!

What is the best crypto casino in July 2022? Read our comprehensive comparison! We made deposits, played and reviewed 80+ crypto casinos to choose the best one.

Bitnews

Leave a Reply

Your email address will not be published. Required fields are marked *

Check Also

Not The 2018 Bear Market, Bitcoin Price Could Hit $20,000 In December

The Bitcoin price rebounded off the low of its current range and retraced its weekend loss…