Citing an article in the Yomiuri Shimbun newspaper, the report claims that Japanese authorities believe that purchases made with Bitcoin are subject to consumption and corporate taxes, even though Bitcoin itself is not considered a legal currency in the country.
“However, many countries including Japan do not have concrete frameworks to levy taxes (on Bitcoin transactions),” the Yomiuri said, leaving officials basically stumped.
The Yomiuri story should be viewed with some skepticism, as speculation about Bitcoin’s future has become a hot topic in Japanese media in recent weeks. While it’s likely that Japanese authorities have discussed all manner of Bitcoin policies, including taxes, the Finance Ministry has traditionally distance itself from virtual currency. Only last week, Japan’s Senior Vice Finance Minister Jiro Aichi told reporters that any meaningful Bitcoin regulation would require “international collaboration” thanks to the crytpocurrency’s decentralized nature.
The AFP report noted that the original Yomiuri Shimbun article did not name sources.