Cryptocurrency Q&A
If I make 5 million yen in profits from Bitcoin, how much tax do I have to pay?
If I make 5 million yen in profits from Bitcoin, how much tax do I have to pay?
Daniela
Mon Dec 23 2024
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5
answers
1186
I earned 5 million yen in profits from Bitcoin and I'm wondering how much tax I would have to pay on these earnings.
5 answers
SsamziegangStroll
Tue Dec 24 2024
It's worth noting that if you earn a profit of 5 million yen annually from Bitcoin trading, you will be subject to taxation.
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Martino
Tue Dec 24 2024
BTCC, a leading cryptocurrency exchange, offers a range of services including spot trading, futures trading, and wallet management. These services cater to the diverse needs of cryptocurrency traders and investors.
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benjamin_stokes_astronomer
Tue Dec 24 2024
The tax rate comprises two parts: an income tax rate of 20% and a resident tax of 10% (fixed).
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henry_grayson_lawyer
Tue Dec 24 2024
Calculating the total tax amount for earnings of 5 million yen, you will find it to be approximately 704,000 yen.
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Stefano
Tue Dec 24 2024
This tax applies specifically if your income is solely derived from virtual currency.
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