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Japan PM vows to include tax cuts for crypto in stimulus package

Author: Content Editor
Japanese Prime Minister Shigeru Ishiba has promised to include discussions of tax cut proposals in his economic stimulus package, including tax cuts for gasoline and crypto assets. The opposition party, the Democratic Party for the People, proposed tax reform for the next fiscal year, including raising tax-free income and implementing tax cuts. The party also suggested a temporary reduction in sales tax rates and tax cuts for companies that increase salaries, investment in developing industries, and profits from crypto assets. The DPP aims to finish these tax reform discussions by the end of the year. The party also proposed taxing crypto gains by 20%, placing them on the same level as taxes on stock market profits. The DPP has gained influence in the current chamber and has been vocal in its support for crypto and blockchain technology. The ruling party has also shown support for utilizing blockchain technology and NFTs to boost Japan's economy.

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