PANews reported on December 12 that, according to CoinPost, the Japanese National Tax Agency announced the results of its tax investigations for fiscal year 2024 (July 2024 to June 2025) on December 11. The results showed that 613 on-site investigations were conducted against individuals involved in cryptocurrency transactions, resulting in the recovery of approximately 4.6 billion yen in taxes, an increase of about 31.4% compared to the previous fiscal year's 3.5 billion yen. The number of investigations also increased by about 14.6% year-on-year.
The IRS points out that cryptocurrency-related cases have significantly higher tax recovery amounts per transaction and higher rates of underreported income compared to the overall average for income tax investigations. Current tax investigations focus on the accuracy of profit and loss calculations, the completeness of transaction records, and the handling of special transactions such as DeFi, airdrops, mining, and staking. If multiple domestic or international exchanges are involved, all profits and losses must be reported together; otherwise, it may be considered an omission in the reporting process.
