Japan promotes economic stimulus plan, aiming to achieve a unified tax rate of 20% on cryptocurrencies

ChainCatcher news, according to Cointelegraph, the Japanese government has announced the advancement of a new economic stimulus plan, which is expected to be approved by the end of 2024. The plan includes changing the cryptocurrency tax rate from the current maximum of 55% under "miscellaneous taxes" to a unified tax rate of 20%.

In addition, the reform proposal also involves raising the personal tax exemption limit to approximately $11,345, cutting fuel taxes and sales taxes to boost the economy and improve the job market. Japanese Prime Minister Shigeru Ishiba has pledged to work with various parties to promote this legislation.