Friday , June 25 2021

Leaders of the G20 countries require an international tax system for cryptocurrency.



The G20 countries called for a tax code and anti-money laundering law on decryption, as reported by the Japanese media Jiji.com on Dec. 2.

According to Jiji.com, the final copy of the documents jointly delivered by G20 leaders calls for a "tax system for cross-border electronic payment services".

This law states that local governments can not impose taxes on foreign companies that have "factories or other bases in Japan" in accordance with the current law. The publication mentions that G20 leaders are seeking to "build a tax system for cross-border e-services."

Member states that met in Buenos Aires this weekend are working on the system and said that Japan will consider this issue in 2019 as the president of the summit. The final version of the regulation will be completed after considering the prospects of each member country's proposal to be enacted in 2020.

As Cointelegraph reported in October, the CEO of the company at Circle, the cryptocurrency investment application, called for "normalization at the G20 level" in the cryptocurrency industry.

In July, French Finance Minister Bruno Le Maire asked the G20 to hold a public debate on the Crypto rencies in the summit this weekend.

Le Maire said, "Leaders will discuss the Bitcoin (BTC) issue together because there is a clear risk of speculation." He concluded that France needs to "know how to regulate Bitcoin" by "reviewing it with other G20 members."


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