How much are cryptocurrencies taxed in Japan?

And you’ll pay income taxes again when you sell or dispose of these cryptocurrencies in the future. Income tax rates range from 5% to 45% in Japan, depending on your tax brackets and deductions, plus a 10% municipal tax rate on all income (applicable on all income levels).

How much tax do I have to pay on crypto?

This means you may have to pay a maximum of 55% tax rate on your crypto earnings. The following table is extracted from the official page of the Japanese National Tax Agency, showing different tax rates according to different income brackets:

Is Singapore a crypto tax haven?

Singapore is a crypto tax haven for both individuals and businesses. This is because Singapore doesn’t have a Capital Gains Tax - so individual investors and businesses are not liable for Capital Gains Tax. So when you dispose of crypto by selling it or trading it, you won’t pay Capital Gains Tax.

How will cryptocurrencies be taxed in 2023?

This said, this is all potentially changing - and soon! In the Draft State Budget for 2023, gains from selling or swapping crypto held less than a year will be subject to a flat tax rate of 28%, while commercial activity including mining will be considered self-employment and subject to Income Tax and social security.