Web3 companies have been moving overseas because they became liable for tax even before making profits from their activities, Gaku Saito, chairman of the JCBA’s tax review committee, told CoinDesk Japan in an interview. Companies were having to pay tax on unrealized gains, forcing them to sell their assets and stifling business development.

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• Source: https://www.coindesk.com/policy/2023/12/25/japans-cabinet-proposes-scrapping-corporate-tax-on-unrealized-crypto-gains/?utm_medium=referral&utm_source=rss&utm_campaign=headlines