ADVERTISEMENT

[email protected]

  • Submit Press Release
  • Submit Guest Post
  • Write for Kryptomoney.com
Latest Crypto News
  • News
    • Bitcoin News
    • Blockchain News
    • Cryptocurrency News
    • Ethereum News
    • Exchanges News
    • Regulations News
  • Price Analysis
    • Bitcoin (BTC) Analysis
    • Ether (ETH) Analysis
    • Ripple (XRP) Analysis
    • Litecoin (LTC) Analysis
    • Bitcoin Cash (BCH) Analysis
    • Binance Coin (BNB) Analysis
  • Industry
    • Events
    • Press Release
  • Start Here
  • Advertise
No Result
View All Result
  • News
    • Bitcoin News
    • Blockchain News
    • Cryptocurrency News
    • Ethereum News
    • Exchanges News
    • Regulations News
  • Price Analysis
    • Bitcoin (BTC) Analysis
    • Ether (ETH) Analysis
    • Ripple (XRP) Analysis
    • Litecoin (LTC) Analysis
    • Bitcoin Cash (BCH) Analysis
    • Binance Coin (BNB) Analysis
  • Industry
    • Events
    • Press Release
  • Start Here
  • Advertise
No Result
View All Result
Latest Crypto News
No Result
View All Result
Home News

Japan Seeks To Simplify Cryptocurrency Tax Reporting

Arshmeet Hora by Arshmeet Hora
October 20, 2018
in News
0
Japan | Cryptocurrency Tax Regulation | Cryptocurrency
0
SHARES
4
VIEWS
Share on FacebookShare on Twitter

Sankei News quoted the organization as saying:

“The environment should be adjusted so that tax returns can be simplified.”

Japan intends to enhance and protect their economy via regulating cryptocurrency as they observe a significant local boom in the ecosystem.  While a complex set of rules regulate the taxation processes, the rules are stringent as well. The Sankei notes that the consumers are requisite to file tax return on any annual gains over 200,000 yen ($1780).

After examining the taxation reporting, the U.S. authorities has forewarned that the number of consumers who file crypto returns is minimal, and the number who do so correctly is even lesser.  The  U.S. since then has dedicatedly developed tools that aim to simply the tax returns for investors, specifically geared to the country’s tax authority the Internal Revenue Service (IRS).

Japan on the other hand lacks this system. The officials stated that the employing a simplified regime would allow easy calculation of cryptocurrency holdings where phenomena such as inheritance and donation tax are included. They added that the system should “be able to grasp the asset price appropriately.” 

Read more: Japan’s Strict Regulation is “Good For” Coinbase Says CPO Mike Lempres

 

Tags: Cryptocurrency in JapanCryptocurrency NewsCryptocurrency taxesLatest Cryptocurrency NewsLatest Cryptocurrency UpdatesNational Tax Agency of JapanTaxation
Previous Post

Ethereum Is Now The 5th Fastest Growing Open Source Project

Next Post

Mike Novogratz And Goldman Sachs Invests In Crypto Startup BitGo

Next Post
Mike Novogratz |Goldman Sachs | BitGo

Mike Novogratz And Goldman Sachs Invests In Crypto Startup BitGo

Recent Stories

Fake Brazilian Bitcoin Investment Scheme Shut Down By Police After $359 Million Scam

Fake Brazilian Bitcoin Investment Scheme Shut Down By Police After $359 Million Scam

December 9, 2019
China’s Cryptocurrency Will Be Released In Two Layers And Will Not Use Blockchain

China Set To Begin Pilot Test Of CBDC With Major Banks And Telecom Firms

December 9, 2019
Bank of China Announces $2.8 Billion Bond Issuance For Small Enterprises Via Blockchain

Bank of China Announces $2.8 Billion Bond Issuance For Small Enterprises Via Blockchain

December 9, 2019

Bitcoin Price Analysis – BTCUSD Holds Above $7,500

December 9, 2019
Ripple Price

Ripple Price Prediction – Will XRP Bulls Break Above $0.23?

December 9, 2019
Crypto Proft

Crypto Profit: The Best Way To Earn Crypto Money With or Without Experience

December 7, 2019
Profit Revolution

Earn Big Bucks From Crypto Trading Via Profit Revolution

December 7, 2019
Binance Coin Price Analysis

Binance Coin Price Analysis – BNBUSD Continues to Consolidate

December 6, 2019

Bitcoin Cash Price Analysis – Will The Uptrend Continue Above $212?

December 6, 2019
Bitcoin

$9 Billion Moved In Bitcoin Within One Hour, Setting New On-Chain Record

December 6, 2019

Email Subscription

Pages

About Us

Contact Us

Disclaimer

Get Latest Cryptocurrency And Bitcoin News

Privacy Policy

Write for Kryptomoney.com

Category

Events

General

Interviews

News

Price Analysis

Press Release

Sponsored

Information

About Us

Submit Press Release

Submit Guest Post

Contact Us

Social Icons

[email protected]

©KryptoMoney 2019 | Southridge Internet Corp

No Result
View All Result
  • Resource List
  • News
  • Price Analysis
  • Events
  • Press Release
  • Sponsored

©KryptoMoney 2019 | Ess Commerce Private Limited

  • bitcoinBitcoin (BTC) $ 7,362.08 2.3%
  • ethereumEthereum (ETH) $ 147.25 2.38%
  • tetherTether (USDT) $ 1.00 0.25%
  • bitcoin-cashBitcoin Cash (BCH) $ 207.57 3.03%
  • binancecoinBinance Coin (BNB) $ 15.28 2.31%
Our websites require cookies enabled to provide you with an uninterrupted experience. Please continue without changing your setting to receive important notifications.I Agree