Japan's cryptocurrency tax recovery reaches a record high of 46 billion yen

National Tax Agency 2024 Annual Report: 613 field investigations, tax recovery increased by 31.4% year-on-year. Focus on monitoring DeFi, airdrop, and mining staking declaration issues. The highest penalty for underreporting is 20%, and 40% for intentional concealment.

The good news is that Japan is discussing a shift to a 20% separate tax + loss carryforward.