Quote from: cozytrade on March 08, 2014, 10:32:55 AM

Quote from: Vitamin on March 08, 2014, 06:51:58 AM

Bitcoin is taxable now, you say?

Tell me more about how you think it's not real money.

The suggested guideline in the Japanese government are these,

1. Bitcoin is considered as material, NOT as currency (so it is like precious metal like Gold, Platinum.,,.)
2. Banks are prohibited to exchange bitcoin and currency. Making dedicated account is also prohibited.
3. Security brokers are prohibited to deal with bitcoin transaction
4. Capital gain tax and cunsumer tax (VAT) are imposed
5. Consider additional regulation in derivative trades

So BTC and other "copied from BTC" cryptocurrencies are not considered as currency. Regarding tax, it is thought to be difficult to track by IRS thus virtually little impact on us. As nobody even tries to exchange BTC at banks or security brokers, no impact for us. Only the impact would be Japanese exchanges need to have dedicated bank account for cash transaction. They would have to use non-Japanese Banks not like MtGOX.

Yes, this is it. Listed better. Though, how japanese gov. gonna impose tax on bitcoin trading is a matter? I guess may be by analyzing bank account trans. - origin of transaction.

But, still looking forward to see .. How are they gonna do it!