Japan Plans to Consider Tax Breaks for Cryptocurrency Companies
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The FSA and the Japanese Ministry of Economy, Trade and Industry are considering a tax reform proposal for 2023.
The proposal will reportedly include exempting crypto startups that issue their own tokens from paying taxes on unrealized profits.
The aim of the proposal is to prevent the outflow of companies abroad.
The agencies will also consider a joint initiative between the Japan Crypto-Asset Business Association and the Japan Crypto-Asset Exchange Association, which have previously proposed lowering the capital gains tax rate for retail investors from 55% to 20%.
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