Presently Japanese crypto firms pay a set 30% corporate tax rate on their holdings, regardless of whether or not they made a profit. Due to this stringent tax law over the past years, some local crypto firms reportedly chose to move their business elsewhere. Related Reading: Solana: This Minor Hiccup Didn’t Discourage Investors From Acquiring SOL – Until Today This development has impacted the country’s economic growth, and the LDP, having identified it as its primary task, wants to set things right. The Liberal Democratic Party (LDP) of Japan addresses issues with administrative reform and collaborates with the U.S. to enact defensive and foreign policies. The term Administrative Reform refers to multiple themes in the nation. An example of such themes is adopting measures like tax reform to stand the test of economic strain. Japan Set To Ease Stringent Tax Rules In line with its objectives to promote fast economic growth, the Japanese ruling party’s (LDP) tax committee held a meeting on December 15. The meeting was to deliberate on tax reforms. While at it, they ..
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