According to TechFlow, on November 21, Cointelegraph reported that Japanese Prime Minister Shigeru Ishiba has pledged to initiate cross-party discussions on comprehensive tax reform, which includes standardizing the tax rate on cryptocurrencies to 20%, replacing the current fluctuating rate of up to 55% on "miscellaneous income." This economic stimulus plan is expected to be approved by the end of 2024. The reform proposal also includes raising the personal tax exemption threshold from $6,650 to $11,345, while reducing fuel taxes and sales taxes.

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<p>According to Deep Tide TechFlow, on November 21, as reported by Cointelegraph, Japanese Prime Minister Shigeru Ishiba promised to engage in cross-party discussions on comprehensive tax reform, which includes standardizing the cryptocurrency tax rate to 20%, replacing the current floating tax rate for "miscellaneous income" that can reach up to 55%. This economic stimulus plan is expected to be approved by the end of 2024. The reform proposal also includes increasing the personal tax-free income threshold from $6,650 to $11,345, while lowering fuel taxes and sales taxes.</p>
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Japan plans to lower cryptocurrency tax rates to 20% through an economic stimulus plan.