Mining equipment investment has an enormous tax-saving effect even for individuals (employees)!
The No.1 reason mining investment is so popular is
“tax savings effects”.
Unlike physical cryptocurrency investments, purchasing mining machines for cryptocurrency mining
is considered capital expenditure and can be treated as a deductible expense.
Also, the operating costs and running costs of cryptocurrency mining machines are all deductible, making it a very effective tax-saving measure.
as a tax-saving measure.
By utilizing the Ministry of Economy, Trade and Industry’s recommended tax-incentive system
“Small and Medium Enterprise Management Enhancement Tax System”(a system introduced to improve the profitability of small businesses) can
allow 100% immediate depreciation within the year,or, tax credits are possible (until March 31, 2019)..
“Attention! Immediate depreciation is also available to individuals!”
By using“offsetting profits and losses”to greatly reduce taxes
＜Income tax and resident tax can also become “zero”！＞
This tax incentive applies not only to corporations but also, remarkably, to individuals!.Individuals can also use it!
Even a salaried employee can expect tax savings.
By the way, the “Small and Medium Enterprise Management Enhancement Tax System” is available to both corporations and individuals, and
tax savings on income tax and resident tax can be achieved through the combined use of “offsetting profits and losses.”
For employees, the approach would be to file a blue return.
By recognizing the amount spent on mining equipment as a deductible expense (business loss),
and by adding it to take-home pay, tax savings can be targeted.
Additionally, the income tax withheld from salary can be refunded, making the tax-saving effect quite substantial.
For those considering cryptocurrency mining,
there is no reason not to use tax incentives that allow immediate depreciation.
Cryptocurrency mining machines
