Japan issued a document, cancel next year bitcoin consumption tax

Japan issued a document, cancel next year bitcoin consumption tax

Currently in Japan, buy bitcoins to pay 8% of the consumption tax. Yesterday, jointly issued the Liberal Democratic Party and the Civic Party tax reform outline shows that Japan will cancel the 8% consumption tax in July next year.

Japan’s Ministry of Finance and the financial department has held a meeting on October, the abolition of bitcoin consumption tax proposals. And yesterday, Japan’s ruling Liberal Democratic Party and the release of the proposed tax reform outline is the further explanation. However, the document will still have to undergo a final review of senior government officials.

At present, the consumption tax still exists. But as long as the cabinet by the tax reform program, the development of industry in Japan next year cryptocurrencies will be very quickly. According to local media “Nikkei news” reported that the document represents the final opinion of government stakeholders.

Japan bitcoin startups optimistic about this policy.

Exchange service Quoine CEO MikeKayamori said, the government plans to abolish the consumption tax in the expectation of “crypto currency community is a good sign”.

This policy to reduce the burden of our. Customers will not give each transaction tax. I hope this policy can become an industry standard.

This year, Japan bitcoin exchange is very busy, because the government requires domestic involving the sale of bitcoin company registration information.

The Japanese government supervision on the exchange at the end of 2015, but the discussion early in the MtGox bankruptcy has already begun. The bitcoin exchange closed in early 2014, resulting in the loss of customers millions of dollars of funds.

If you want to know more bitcoin related, with “money said” WeChat (micro signal: bishishuo), note: BtcTrade. Before entering the official exchange group.

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