The tax cut down to 20% is part of Democratic Party for the People leader Yuichiro Tamaki’s broader plan to make Japan a Web3 leader.
Japan’s Democratic Party for the People (DPP) leader Yuichiro Tamaki has proposed a crypto tax plan that would lower tax crypto gains to 20% if he gets elected.
“If you think crypto assets should be taxed separately at 20% instead of treated as miscellaneous income, please vote for the Democratic Party for the People,” Tamaki said in a translated X post on Oct. 20.
But the plan could be far off from fruition, as Tamaki’s DPP currently holds only 7 out of 465 seats in Japan’s House of Representatives, also known as the lower house of the National Diet of Japan.
