Japan Ends 8% Consumption Tax On Bitcoin Today

Japan leading the way

Bitcoin users in Japan no longer have to pay the 8% consumption tax on bitcoin transactions as of today, July 1. Under the “Cabinet Order for Partial Revision of the Order for Enforcement of the Consumption Tax Act,” digital currencies are exempt from consumption tax

The revised law abolished consumption tax on digital currencies, but other taxes such as personal income tax, capital gains tax or corporate income tax still remain, according to Bitcoin.com.

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