Derived from HashNews, Japan's National Tax Agency reported that in the 2024 fiscal year, 613 on-site audits of cryptocurrency transactions were conducted, recovering a total of 4.6 billion yen in taxes, a 31.4% increase from the previous year's 3.5 billion yen. The number of audits also rose by approximately 14.6%. The agency noted that single-case tax recovery and unreported income in crypto-related cases were significantly higher than the overall average for income tax audits. Current audit priorities include accuracy of profit and loss calculations, completeness of transaction records, and proper reporting of special transactions such as DeFi, airdrops, mining, and staking. If multiple domestic and international exchanges are involved, all gains and losses must be consolidated and reported; otherwise, it may be deemed a reporting omission.
Japan Tax Agency: 2024 Crypto Tax Audits Recover 4.6 Billion Yen
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Summary
Japan's National Tax Agency reported 4.6 billion yen in tax recovery from 613 crypto audits in 2024, up 31.4% from 2023. Audit numbers rose 14.6%. Crypto market participants are under closer scrutiny, with a focus on profit calculations, transaction records, and reporting of DeFi, airdrops, mining, and staking. Gains from multiple exchanges must be consolidated; otherwise, it may be considered a reporting omission. The agency noted that crypto analysis reveals higher unreported income and larger single-case recoveries than average income tax audits.
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