G20 Calls for International Taxation, Regulation on Cryptocurrency
G20 countries are reportedly calling for taxation and regulation of cryptocurrency for the prevention of money laundering, according to a document jointly delivered by member country leaders at a meeting in Buenos Aires this weekend.
It was further specified that under current laws, foreign companies that do “not have a factory or other base in Japan” cannot be taxed by the local government. The member countries are now working on a taxation system for cross-border electronic services, and will consider the issue during 2019 when Japan will be the president of the summit.
It is said that once proposals from each member state have been considered, a final version will be ready and put in place by 2020.