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RE: Japan to Tax ALL CRYPTO PROFITS Including Transfers/Gains Made from Exchanges Between Coins.

in #japan • 7 years ago

I though in the article it said it isn't taxed until it's withdraw to fiat. If you withdraw daily then it would be complex.

I think the premium version handles crypto transfer and tax tracking, but not 100% sure.

I hate taxation as well, but from what I'm reading is if you keep your earnings in crypto it doesn't get taxed.

7 years ago in #japan by
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     7 years ago  

    All profits are taxed, even those made from crypto to crypto exchanges. At the time of a purchase or conversion to fiat, you are expected to know exactly how much profit has been garnered from each separate, individual coin or decimal portion of coin.

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       7 years ago  

      Yeah that's just insane. That kind of detail is almost just saying if you use crypto we will throw you in jail. How will the government be able to prove your information is or isn't correct. Sounds just like a loophole to throw the "unfavorables" into jail.

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       7 years ago  

      It does to me too.

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