Topic: Japanese Crypto Investors To Pay Tax Of Up To 55 Percent On Profits (Read 151 times)
February 17, 2018, 09:09:27 AM
I agree with you, it's really big taxes. But! They exist! So, Japan government recognizes cryptocurrency as a value! And this is a bigger plus than taxes)China could earn a lot of money!Instead of this, they ban mining and cryptocurrencies.
February 13, 2018, 12:29:26 PM
what is your opinion about this?paying up to 55% tax of your income in cryptocurrency is like crazy for me ideal taxes is 15% to 30%
anyway a admire japan that they support and recognize cryptocurrency i hope someday my country they do same like japan.
https://cointelegraph.com/news/japanese-crypto-investors-to-pay-tax-of-up-to-55-percent-on-profits
anyway a admire japan that they support and recognize cryptocurrency i hope someday my country they do same like japan.
https://cointelegraph.com/news/japanese-crypto-investors-to-pay-tax-of-up-to-55-percent-on-profits
That is just pure bullsht. I absolutely doubt that anyone would agree to such terms. But then again, there would be no other thing that the Japanese people can actually do since it is the decision of the government. The Japanese people will just have to look at the bright side that at least, their government is putting an effort to accredit crypto currencies as a currency that actually has a real value. Unlike other countries out there who turns a blind eye to the greatness of this new innovation and ban it instead of adapting to the progress of technologies. I sure wish that my country would also do something like this.
Honestly though, I really think that the tax requirement for cryptos in japan is really just for now. I think that it will really decrease gradually in time. I don't know, but I sure do hope so.
February 13, 2018, 04:33:41 AM
What is the normal rate for tax on profits in Japan? Is this similar or same?
February 13, 2018, 04:12:55 AM
what is your opinion about this?paying up to 55% tax of your income in cryptocurrency is like crazy for me ideal taxes is 15% to 30%
anyway a admire japan that they support and recognize cryptocurrency i hope someday my country they do same like japan.
https://cointelegraph.com/news/japanese-crypto-investors-to-pay-tax-of-up-to-55-percent-on-profits
anyway a admire japan that they support and recognize cryptocurrency i hope someday my country they do same like japan.
https://cointelegraph.com/news/japanese-crypto-investors-to-pay-tax-of-up-to-55-percent-on-profits
If this is effected, it is not only high but exorbitant which can be said to be suicidal. 55% even the highest I know of is 35% and that is for corporate organisations in which even the US government is reviewing its own downwards to ensure there is much more disposable income in the private sector and with that they can expand, create more jobs, and it turns to more money for government in form of taxes all over again.
What I am seeing here is a strategy by the Japanese government in the sense that, they want to allow crypto but dont want it to change their social order by giving more money to the hands of the individuals engaging in crypto because an 18 year old boy making the right decision in crypto can be a millionaire before 20, spread across the whole country means some level of independence which they might not be able to control if it circulate throughout the country and that is government losing their influence over the citizenry.
February 13, 2018, 04:06:53 AM
This is obviously not a good news, 55% of taxes, oh my god, this is terrible, this is totally irrational.
So if you lose money, the government gives you subsidies？？ I'm curious about that.
So if you lose money, the government gives you subsidies？？ I'm curious about that.
February 13, 2018, 04:03:52 AM
I am actually very disappointed in the Japanese government for doing this. They started out by being a pioneer by recognising the technology as a currency and then it turns out that they are doing this to milk the Crypto community for more taxes.
Something similar happened in New York with the BitLicense, where everyone was very happy when New York accepted the technology and promised that it would properly regulate it, to protect their citizens. What happened was that the BitLicense was so complicated and expensive, that it actually created a barrier to entry for most businesses.
Something similar happened in New York with the BitLicense, where everyone was very happy when New York accepted the technology and promised that it would properly regulate it, to protect their citizens. What happened was that the BitLicense was so complicated and expensive, that it actually created a barrier to entry for most businesses.
February 13, 2018, 03:50:05 AM
with that kind of tax rate id be holding for years before id cash out.
February 13, 2018, 03:45:41 AM
Taxes are so large that I think it is unnatural to apply, in trading our cryptocurrency is not always in profit, and that I think is very detrimental to the owner of cryptocurrency in the presence of such a large tax.
February 13, 2018, 03:33:29 AM
what is your opinion about this?paying up to 55% tax of your income in cryptocurrency is like crazy for me ideal taxes is 15% to 30%
anyway a admire japan that they support and recognize cryptocurrency i hope someday my country they do same like japan.
https://cointelegraph.com/news/japanese-crypto-investors-to-pay-tax-of-up-to-55-percent-on-profits
55% is quite big to think the recent value of btc. I don't think this is fair enough though. But again since Japan is on the early adoption in using btc as a commodity and means of payment I think this is a good jump start towards the goal of btc in eliminating double spending. Again if Japan, a first world country is the first to implement this then this is a win win situation for bitcoin regardless of the amount of fee.anyway a admire japan that they support and recognize cryptocurrency i hope someday my country they do same like japan.
https://cointelegraph.com/news/japanese-crypto-investors-to-pay-tax-of-up-to-55-percent-on-profits
February 11, 2018, 10:31:15 AM
what is your opinion about this?paying up to 55% tax of your income in cryptocurrency is like crazy for me ideal taxes is 15% to 30%
anyway a admire japan that they support and recognize cryptocurrency i hope someday my country they do same like japan.
https://cointelegraph.com/news/japanese-crypto-investors-to-pay-tax-of-up-to-55-percent-on-profits
anyway a admire japan that they support and recognize cryptocurrency i hope someday my country they do same like japan.
https://cointelegraph.com/news/japanese-crypto-investors-to-pay-tax-of-up-to-55-percent-on-profits
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