Japan plans to simplify tax returns in crypto
The Japan Tax Commission indicated that they are looking for ways to present this data in a more concise and accurate way
This week, the Japan Tax Commission is working on a way to simplify the cryptocurrency tax reporting system.
The objective is that investors can present clearly, concisely and accurately with respect to their earnings and digital currency.
This commission, which is responsible for carrying out the fiscal and advisory policy of the first Japanese ministry, held a general assembly where the improvements that could be applied to this process were discussed.
The committee is planning a new system that would standardize the tax filing process and make it easier for taxpayers to calculate their profits on sales of digital assets against fiat currencies and other cryptocurrencies.
“Given that it is necessary to take into account other frameworks that are not the tax system and commercial practices, we will hold a small meeting of experts to deepen the discussion while listening to external opinions,” said Minoru Nakazato, president of the Tax Committee.
K. Tovar
Source: Coindesk
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