Japan might be lowering tax burdens on crypto startups in 2023

Aug 26, 2022 | News On Japan

Aug 26, 2022 (cryptoslate.com) - The Japanese Government indicated a possibility of reducing the tax burdens on crypto startups with the 2023 tax reform to prevent startups from leaving the county to set up their businesses.

Japan currently taxes both corporate and individual investors for their realized and unrealized crypto gains.

Corporations that hold crypto are taxed at a rate of 30% for all their gains from digital assets, while individual investors can be taxed up to 55%.

The new tax reform will target corporate investors to encourage the emergence of startups. If the tax update takes place as intended, companies holding a portion of the crypto assets they issue won’t include those assets in their market valuation and won’t be taxed by their unrealized gains.

However, they’ll still be taxed based on the revenue generated from the sales of the tokens they issue or any other crypto assets they may hold. There are no talks about changing the tax rates of individual investors. ...continue reading

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