It’s Official: Japan Has Eliminated Tax on Bitcoin, Rise in Trading Expected

Japan’s tax reform bill which officially eliminated consumption tax on the sale of Bitcoin came into effect on July 1. Bitcoin trading activities are expected to rise in Japan following the activation of the bill.

In a report entitled “Japan: Inbound Tax Alert, 2017 Tax Reform Proposals,” Deloitte previously revealed that virtual currencies including Bitcoin were set to be exempt from the eight percent consumption tax in Japan.

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