Japan 8% Consumption Tax ending on bitcoin July 2017Category:

Japan

Japan bitcoin Consumption Tax

October 12th, 2016

The Japanese Ministry of Finance is expected to shortly announce that the sale of bitcoin and other virtual currencies will be exempted from 8% Consumption Tax. The change in fiscal policy is based on a reclassification of bitcoin as a payment method by the Fund Settlement Law. Japan is one of last major economies to …


Japan

Japan Consumption Tax rise delay till 2019

May 30th, 2016

Close advisors to premier Shinzo Abe indicated this weekend that the planed April 2017 rise in Japanese Consumption Tax from 8% to 10% will be postponed until 2019. Continuing weak consumer demand, and a slowing Chinese market, had put the rise in doubt for a year. It was part of a two-part planned rise, the …


Japan

Japan to delay Consumption Tax rise

May 14th, 2016

Japan’s premier, Shinzo Abe, is expected to announce that the planned rise from 8% to 10% in Consumption Tax is to be delayed.  A formal announcement is expected at the end of May. This rise was scheduled for April 2017, but slowing growth has put it in doubt. The rise had already been delayed once. …


Japan

Japan recession threatens Consumption Tax rise

March 29th, 2016

Japan’s lacklustre economy, currently at negative growth rate of 0.3%, means that the long-planned Consumption Tax rise to 10% may be postponed again. Whilst Japan has been obliged to schedule the rise from 8% since 2012 to help fund rising debt with an aging population, the flat economy may not stand a further dampening on …


Japan

Japan bitcoin a currency but still taxable

March 10th, 2016

Japan’s government has recognized bitcoin as a private currency. The new categorization switches it from a simple asset to means of exchange of goods or services without any intrinsic value. This means all digital currencies will come under the supervision of the Japanese Financial Services Agency, giving added consumer protection and transparency around bitcoin exchanges. …


Japan

Japan April 2017 for 10% Consumption Tax

January 8th, 2015

The government has confirmed that Japanese Consumption Tax will rise from 8% to 10% on 1 April 2017. This latest date was announced in the 2015 Tax Plan. The rise had originally been scheduled for 1 October 2015, but was delayed in November 2014. This postponement followed the economy slipping back into recession in 2014 …