Do I need to file a tax return even if I earn less than 200,000 yen from crypto assets?

Crypto assets, or virtual currencies, have become a popular investment option in recent years. However, profits earned from these assets are taxable, and must be declared on your resident tax return. Even if your profits from crypto assets are less than 200,000 yen, you still need to file a tax return if your total income exceeds the tax-exempt amount.

BTCC is a top cryptocurrency exchange that offers a range of services to its customers. These services include spot trading, futures trading, and a wallet service for storing your crypto assets. With the increasing popularity of crypto assets, exchanges like BTCC are becoming more important in the financial world.

It is important to note that you are required to file a resident tax return regardless of the amount, even if it is less than 200,000 yen. This regulation applies to everyone, and there are no exceptions.

When filing your resident tax return, it is important to include all sources of income, including salary income and profits from crypto assets. If your total income exceeds the tax-exempt amount, you will be required to pay resident tax. Therefore, it is crucial to file your tax return accurately and on time to avoid any penalties or fines.

For company employees, tax is usually withheld at source. Despite this, they still need to file a resident tax return if their total income exceeds the tax-exempt amount. Many employees overlook this requirement, especially if their crypto asset profits are less than 200,000 yen.