Japan Could Drop 8% Bitcoin Sales Tax By Mid-2017
Japan’s plan to drop an 8% sales tax on bitcoin purchases could take effect as early as July 2017, according to documents obtained by CoinDesk. Though subject to final approval by senior Japanese government officials, an annual tax document prepared by the ruling Liberal Democratic Party and the Komeito party and published today offers new details on a proposal floated in October by the Ministry of Finance and the Financial Services Agency. The tax remains in place today. Yet if approved by the Cabinet, the plan would institute a grace period in June of next year, with the tax exemption....
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Japan is reportedly planning to exempt bitcoin and other virtual currencies from a national sales tax. The country's Financial Services Agency – its top finance regulator – along with the Ministry of Finance are deliberating on a possible exemption, according to regional news service Nikkei. Bitcoin purchases in Japan are currently subject to an 8% sales tax. "Discussions between the Finance Ministry and Financial Services Agency are expected to lead to a formal decision after talks by a ruling-coalition tax panel at the end of the year," the agency reported. According to the....
The Japanese Financial Services Agency (FSA) is set to hold an official meeting by the end of 2016 to end sales tax on Bitcoin. If passed, it will reduce prices at Japanese exchanges by 8%. National News Channels in Korea and Japan praised the FSA’s move. Earlier this week, the Japanese Finance Ministry announced its plans to end sales tax on Bitcoin by....
After non-fungible token (NFT) sales soared during the month of August, the first week of September’s NFT sales has been awful. Statistics show the number of sales in mid-August tapped a high of 193,693 sales but plummeted 86% to 27,053 sales on September 10. Metrics from the most used marketplaces show that volume has slid considerably following the same fallout cryptocurrency market have felt during the last four days.
NFT Sales and Trade Volumes Plummet
So far, September has not been the best month for NFTs and sales in this space. Last month, non-fungible token (NFT)....
The past week’s non-fungible token (NFT) sales have dropped again, following the last few weeks of diminishing volumes. Across 14 blockchains that support NFTs, sales have slipped 29.46% lower than the week prior. Despite the drop in NFT sales volume, NFT sales stemming from the Arbitrum network spiked by 97.53% this week.
NFT Interest and Sales Nosedive
According to Google Trends (GT) data, interest in NFTs has dive-bombed, as the search query for the term “NFT” slid from a score of 100 on GT during the first month of 2022, to this week’s score of....
This story points out how digital currency and cryptocurrency are not the same. It has been coming for quite some time now, but Japan is poised to be one of the first few countries issuing their own digital currency. With the Bitcoin value soaring as of late, the Bank of Tokyo-Mitsubishi will launch the currency as soon as Q3 2017. For several weeks now, there have been rumors circulating about Japan planning to legitimize Bitcoin as a currency in the country. It comes as no surprise to find out the country’s largest banks has initiated their plan to roll out a national digital currency....