Japan PM Promises To Include Tax Cuts For Crypto In Stimulus Package

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Recently, Japan’s Prime Minister, Shigeru Ishiba promised to cut taxes on crypto in his economic stimulus package. As per the latest reports, Ishiba received approval for his economic package after vowing to include annual tax reform proposals from the opposition party, the “Democratic Party for the People (DPP)”. Moreover, the main parties also agreed to raise the budget to fund this package by the year-end. Makoto Hamaguchi, a senior member of DPP, stated that the annual tax reform for the next fiscal year would include tax-free income from 1.03 million yen ($6,650) to 1.78 million yen ($11,435). Further, the sales tax rates to 5% temporarily until wages increase by 2%. He further said that DPP aims to finish these tax reform discussions this year.