The Japanese government has approved a tax reform that removes some crypto taxes for corporations and conglomerates. The reform, discussed since early December, removes the unrealized gains taxes on crypto holdings for companies, paving the way for them to hold crypto assets more consistently.
Japanese Government Approves Tax Reform to Eliminate Unrealized Gains Tax
The Japanese cabinet convened to approve the FY2018 tax reform, which includes a series of modifications to rules affecting companies in the cryptocurrency area. The reform included a change that removed the “unrealized gains” crypto tax that mandated companies to pay tribute based on the price change of crypto assets each fiscal year.
A change that eliminated this tax for companies’ self-issued cryptocurrencies had already been approved earlier this year, but with this modification, crypto companies can now hold crypto issued by third parties without paying the unrealized gains taxes.
However, cryptocurrency sales an
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