The Japan Crypto Asset Business Association has proposed to amend the personal crypto asset income tax from a maximum of 55% to a unified 20%.
2024-08-29 08:41:23
On August 29th, at the international Web3 conference "WebX" in 2024, the Japan Crypto Asset Business Association (JCBA) discussed crypto asset tax reform. The JCBA proposed four tax reform proposals, including changing personal crypto asset income tax from miscellaneous income (up to 55%) to declaration of separate taxation (unified 20%). Experts stressed the importance of further environmental rectification that takes into account the particularity of crypto assets and called on the public to actively participate in tax reform discussions. The meeting also discussed the possibility of treating crypto assets as transfer income and how to promote crypto asset investment and innovation through tax reform.
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