The filing of tax returns will start next month in Japan, and as many readers are aware, Japan applies residence-based taxation, which basically means anyone residing and earning in Japan needs to file a tax return in Japan. On the other hand, the United States taxes based on citizenship, not residency. If you are a U.S. citizen living and generating income in Japan, you have to file tax returns in both countries.
On top of that, one must not forget that any income from assets including crypto assets is subject to taxation in both countries as well. Of course there is a tax treaty between the two countries to avoid double taxation, but to get any tax credit, one needs to file tax returns using accepted profit-and-loss calculation methods in each country.
Cryptact runs the largest platform for cryptocurrency capital gains and losses calculations and portfolio management in Japan with an automatic calculation function that covers different accounting methods and three different reporting currencies, the yen, dollar and euro, making tax filing in Japan and abroad simpler and easier.