Japan proposes to relax corporate tax rules on crypto assets and no longer pay taxes on the paper gains of its holdings of cryptocurrencies

Japan’s financial watchdog has proposed easing corporate tax rules on crypto assets and imposing easier taxes on individual stock investors in support of Prime Minister Fumio Kishida’s efforts to revive the economy, Bloomberg reported. Among them, the financial regulator announced on Wednesday that the regulator proposed in its annual tax law change request that companies should be exempted from paying taxes on the book gains of their cryptocurrency holdings after they issue cryptocurrencies. Programs that offer tax relief. Foresight News previously reported that Japan will review how to tax encrypted assets issued by companies to raise funds in order to facilitate the development of start-ups, thereby reducing the burden on newly established companies and preventing promising start-ups from migrating overseas.