Japan Ends Crypto Tax On Unrealized ProfitsThe revision alters the application scope of period-end mark-to-market under the Corporation Tax Law. The tax reform responds, in part, to a request submitted by the Japan Crypto Asset Business Association (JCBA) for the 2024 tax reform. The 2024 tax reform outline also encompasses plans to reduce income tax and resident tax by 40,000 yen per person from June 2024 onwards, tax reductions for companies, and the establishment of a new tax system for strategic sectors and innovation. The development of the corporate tax system is expected to stimulate active discussions on further tax reforms in the crypto asset space. The post Japan To Introduce Major Crypto Tax Reforms In 2024 appeared first on CoinGape.

Source: The Nation December 24, 2023 14:41 UTC