The Japanese Liberal Democratic Party promotes cryptocurrency tax reform, proposing a separate tax of 20%
ChainCatcher news, according to Coinpost, the Web3 working group of the Liberal Democratic Party's Digital Society Promotion Headquarters, led by Representative Akihisa Shiozaki, reported that the LDP's Policy Research Council officially approved the "Emergency Proposal on Transforming Cryptocurrency Assets into Beneficial National Economic Assets" on the 19th.The report pointed out that under the current tax system, income generated from cryptocurrency transactions is generally classified as miscellaneous income and is subject to comprehensive taxation at a maximum rate of 55% (combined income tax and resident tax), which is harsher than in other countries. The report also mentioned that the taxation of cryptocurrency assets is stricter than in other countries.In light of the above points, and whether cryptocurrency assets should be considered financial assets for public investment, the following should be considered:Change the treatment of gains and losses from cryptocurrency transactions to implement a "separate declaration taxation" system at a 20% tax rate.Allow losses from cryptocurrency income to be carried forward for deduction (to be used within the next 3 years).Apply the "separate declaration taxation" system to cryptocurrency derivatives trading as well.
