Keidanren Urges Japan Govt to Rethink Taxation on Crypto Assets

Economy Politics Lifestyle

Tokyo, Sept. 9 (Jiji Press)--The Japan Business Federation, or Keidanren, requested the Japanese government on Friday to exclude crypto assets from taxation using the term-end market value.

Kendanren made such a request for the first time, in its tax system reform recommendations for fiscal 2023.

The request came as the current taxation system has been prompting startups owning crypto assets issued by themselves to move to Singapore or other locations to avoid taxation on their crypto assets.

To promote decarbonization, meanwhile, the Keidanren recommendations call for expanding and extending a tax break for environmentally friendly vehicles.

On a proposed "green economy transformation bond," the biggest Japanese business lobby asked for comprehensive discussions to prevent redemption costs from requiring a new tax burden.

[Copyright The Jiji Press, Ltd.]

Jiji Press