Japan plans to revise cryptocurrency taxation

The authorities plan to introduce a package of economic incentives and reduce the tax burden on digital assets.

New rules for assets

The government plans to replace the complex variable tax rate on cryptocurrency with a fixed 20% rate. This will simplify life for users and make the market more transparent. Currently, rates reach up to 55%, making transactions unprofitable.

What awaits the japanese?

Government bodies are preparing to lower the tax burden to support citizens and revitalize the economy. Plans include raising the tax-free income threshold to $11,345, reducing fuel taxes, and temporarily lowering sales taxes until the labor market stabilizes.

Development prospects

The Prime Minister expressed readiness for dialogue between parties to accelerate the adoption of reforms. The stimulus package is expected to be approved by the end of 2024. This is a significant change compared to the previous tax increase policy, which experts consider a key moment for the economy.

Between choice and risk

Despite progressive proposals, the reforms face challenges as the economy balances between reducing levies and maintaining stability.