Japan plans to ease corporate tax rates for cryptocurrency issuers – Yahoo Finance

Japan’s ruling Liberal Democratic Party approved a proposal on Thursday that exempts companies issuing cryptocurrencies from taxes on unrealized capital gains for tokens they retain on their books, Bloomberg reported, citing party member Akihisa Shiozaki.
See related article: Japan ruling party lawmaker calls for regulatory clarity after FTX debacle
The proposal reviewed by the ruling party’s tax committee aims to improve business conditions for companies issuing cryptocurrencies, Shiozaki told Bloomberg.
Currently, Japan imposes a levy of around 30% on companies sitting on unrealized gains from cryptocurrency holdings.
Prime Minister Fumio Kishida’s administration is expected to finalize its annual tax policy guidelines before the end of this year, while tax code amendments are usually submitted to parliament in January.
The tax legislation indicates the authorities are pursuing earlier announced plans to cut some of the red tape on the crypto industry to encourage innovation and investment, despite the collapse of the FTX.com crypto exchange, which had an operation in Japan.
Japan’s Virtual and Crypto assets Exchange Association (JVCEA), the self-regulatory body that oversees local crypto exchanges, said in October it would relax its screening process for crypto token listings.
Kishida, who became prime minister in September 2021, has been a supporter of digital finance and blockchain adoption, recently announcing further investments in the non-fungible token (NFT) and metaverse industry. He included crypto in plans to reinvigorate the economy, under his “new capitalism” mandate.
See related article: Japan eases token vetting process to expand crypto offerings: report
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Musk said, "approaching 100 starlinks active in Iran", in a tweet on Monday. The billionaire had said in September that he would activate Starlink in Iran as part of a U.S.-backed effort "to advance internet freedom and the free flow of information" to Iranians. The satellite-based broadband service could help Iranians circumvent the government's restrictions on accessing the internet and certain social media platforms amid protests around the country.
Americans' savings rates have dwindled, but a provision of the 'Secure Act 2.0' could help workers establish cash savings funds.
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In 2022, Donald Trump’s relationship with Senate Republican leader Mitch McConnell looks very different than it did just a few years ago. McConnell doesn’t seem to think that the former president is the future of the GOP, especially when it comes to the 2024 presidential election. The Kentucky senator gave a critical interview with NBC […]
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STORY: Surveillance video captured this explosion on Monday in Russia… hundreds of miles from the Ukrainian frontier.The culprit for the deadly blast at the main base for Moscow's long-range bombers was a drone, believed to be Ukrainian.Moscow says three service members died when it shot the drone down.Some accounts said planes were damaged, although Russia said they weren’t. Reuters could not verify the reports either way and Ukraine did not comment.The incident could be the latest attack to expose gaps in Russia’s air defenses.The same base was struck just three weeks earlier by a suspected drone.Kyiv says the base is home to bombers that have targeted Ukraine’s civilian infrastructure.Also on Monday, Russian President Vladimir Putin met with leaders of former Soviet states, but did not make any direct references to the war in televised remarks.Ukrainian President Volodymyr Zelenskiy said the situation at the front in the Donbas region – including in Bakhmut – was “difficult and painful” and would require all of the country’s “strength and concentration.”As the war enters its 11th month, Putin has said he’s open to negotiations over Ukraine, but has shown no sign of retreating from his demand that Kyiv recognize Moscow’s armed conquest of a fifth of the country.For its part, Kyiv says it will fight until Russia withdraws.Tens of thousands of Ukrainian civilians have died in cities Russia razed to the ground, and thousands of troops on both sides have been killed.Since October, Russia has been deliberately targeting Ukraine's energy infrastructure with drones and missiles. Moscow says the aim is to degrade Kyiv's ability to fight. Ukraine says the attacks have no military purpose and are intended to harm civilians as winter sets in, calling it a war crime.
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Evgeniy Nikiforov, a candidate from the axis of Surovikin-Prigozhin [commander of the Russian army in Ukraine and head of Wagner Group – ed.], became the commander of the troops of the Western Military District of the Russian Federation instead of Sergei Kuzovlev from the axis of Shoigu-Gerasimov [Russian Defence Minister and his First Deputy, Chief of the General Staff of the Armed Forces of the Russian Federation – ed.
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Three buses of recent migrant families arrived from Texas near the home of Vice President Kamala Harris in record-setting cold on Christmas Eve.
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