Japan’s Tax Bureau Investigates Tax Evasion Via Bitcoin

Translated by: MOS Finance Team – Xia

On Nov. 11, local time, Asahi News reported that the Tokyo National Tax Bureau is investigating a case of tax evasion which could be totaling up to 27 billion yen. The information shows that over a three-year period ending in March 2019, Chinese Communist investors wired large sums of funds through Bitcoin to a Tokyo-based photography studio company, through which they converted those assets into Japanese real estate. According to Japanese lawyers, they may be also using cryptocurrency coins to evade the CCP’s regulation of personal assets. The Japanese authorities are currently pursuing the suspected tax evasion of the 27-billion-yen assets.

Note:

Mr. Miles Guo previously mentioned in his GTV live-cast many times that Bitcoin, due to the absence of cryptocurrency oversight regulations, has become a tool for money laundering and other crime activities. In contrast, the newly launched HCoin, as a truly decentralized and robust cryptocurrency, has its unparalleled characteristics that provide the reassurance of transparency and security for all HCoin transactions. Mr. Guo reminded his WM brothers-and-sisters-in-arms that it is imperative to understand all things related to the local tax laws, particularly after gaining wealth from the HCoin, and to be sure to abide by the laws.

References: GTV News Talk Nov 13, 2021 am

(The views and opinions expressed herein are those of the author only)

Proofread and edited by: RD16
Posted by: RD16

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