Japan to Drop 8% Bitcoin Sales Tax

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.

This post was published at Coin Desk on October 12, 2016.