Japan considers proposal to exempt companies from tax on unrealized crypto gains

Via a report in Japanee media, Nikkei, canvassing a proposal that would see companies in Japan no longer having to pay tax on unrealized cryptocurrency gains if they hold on to the digital assets

It’s a proposal being discussed by the country’s ruling coalition.

  • cryptocurrencies held for purposes other than short-term trading would be made exempt from corporate tax based on mark-to-market valuations at the end of each fiscal year.
  • exemption will be included in the fiscal 2024 tax reform plan to be compiled this month

This article was written by Eamonn Sheridan at www.forexlive.com. Source