Cryptocurrency Q&A
If I earn 5 million yen a year with Bitcoin, how much tax will I have to pay?
If I earn 5 million yen a year with Bitcoin, how much tax will I have to pay?
CryptoAce
Sun Dec 08 2024
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answers
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I am earning an annual income of 5 million yen through Bitcoin. I want to know how much tax I will be liable to pay on this income.
5 answers
IncheonBeautyBloom
Tue Dec 10 2024
Making a profit of 5 million yen annually from Bitcoin entails specific tax obligations.
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SsamziegangSerenadeMelody
Tue Dec 10 2024
The tax rate applicable to such earnings is composed of an income tax rate of 20% and a resident tax of 10% (fixed).
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Chiara
Mon Dec 09 2024
Calculating the total tax amount on 5 million yen of profit, one would find that it sums up to approximately 704,000 yen.
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ShintoMystic
Mon Dec 09 2024
It's important to note that this applies only if your income consists solely of virtual currency.
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CryptoLegend
Mon Dec 09 2024
BTCC, a leading cryptocurrency exchange, offers a range of services that cater to the needs of crypto traders. These include spot trading, futures trading, and a secure wallet for storing digital assets.
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