Democratic Party for the People Proposes Crypto Tax Cuts in Reform Plan

Yuichiro Tamaki, leader of the Democratic Party for the People, announced on the 20th that he had conveyed the party’s request for tax reform to the ruling party. Under the “investment tax cuts” section, tax cuts on crypto assets (virtual currencies) are also listed. Specifically, the bill includes a provision that cryptocurrency income, which is currently taxed at a maximum of 55% as miscellaneous income, will be taxed at 20% through separate reporting taxation. Other priorities include measures to overcome the 1.03 million yen barrier and measures to tackle soaring energy prices, as well as a temporary reduction in the consumption tax to 5%, the abolition of invoices, and tax cuts on wage increases. He also proposed a hyper-depreciation tax system for growth sectors such as AI, semiconductors, and storage batteries. This is a system that allows depreciation in excess of the amount of investment. In semiconductor-related developments, the Japanese government has decided to invest 200 billion yen in Rapidus, a Japanese semiconductor manufacturer established in 2022, in fiscal 2025. The Nihon Keizai Shimbun reported on the 20th. Tamaki also cited taxation of crypto assets as a topic he would like to see discussed during the LDP presidential election in September. It was suggested that Japan’s cryptocurrency market could be further expanded by introducing appropriate policies such as: ・Same as other financial income, 20% separate taxation applies, and loss carryover deduction (for 3 years) applies
・No tax when exchanging crypto assets
・Leverage ratio increases from 2x to 10x (5x for individuals)
・Crypto asset ETFs are introduced.

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