Big time cryptocurrency traders in Japan could be getting a letter from the tax man next year. The Japanese government is developing a system to catch those who are not paying the appropriate taxes on the profits made from cryptocurrency trading, according to local news. According to sources close to the matter, the system would allow the Japanese National Tax Agency (NTA) to request the cryptocurrency transaction information of individuals thought to be evading the tax. In Japan, any profits obtained from trading cryptocurrencies fall under the Income Tax Act, so individuals must pay tax on these profits if their…
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Japanese authorities form pact to hunt cryptocurrency tax evaders
Source: The Next Web
