We are pleased to announce that Mr. Fuyuki Shibata Graduate School of Accounting & Finance, MBA Program has been awarded the 28th Tax Museum Encouragement Award from the Tax Museum, a public interest incorporated foundation.
Received the 28th Tax Museum Encouragement Award from the Tax Museum, a public interest foundation
Fuyuki Shibata (Graduate School of Accounting & Finance, MBA Program)
Title: "Various tax issues related to virtual currencies and tokens: Focusing on the current state of income taxation and future taxation"
In order to support tax law studies and academic research closely related to tax law, the Tax Museum selects the Tax Museum Award every year for outstanding books and papers on tax law, etc. The Tax Museum Award is an award given to books and papers on tax law, etc., and the Tax Museum Encouragement Award is for papers written by graduate students.
*Details about the Tax Museum Awards can be found on the Tax Museum's official website.
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Comment from the winner
I am extremely honored to receive this prestigious award from the Tax Museum.
The winning paper was titled "Taxation Issues Related to Virtual Currencies and Tokens: Focusing on the Current State of Income Taxation and Future Taxation."
This book examines crypto assets (virtual currencies) from an interdisciplinary perspective, including from the perspectives of cutting-edge IT technologies such as blockchain, monetary theory, economics, and private law such as civil law, and compares the crypto asset tax systems of approximately 15 countries and discusses Japan's income tax law, corporate tax law, consumption tax law, inheritance tax law, etc.
Blockchain is also known as distributed ledger technology. Since it is a "ledger," it can be used as a "ledger" in accounting, and because it is "distributed," it can have a high degree of verifiability. In addition, in terms of taxation, when combined with a cashless society, it has the potential to make tax evasion extremely difficult.
In writing this paper, I received a lot of thought-provoking advice from the professors at this graduate school, both in and outside of lectures. This thesis was only possible because this graduate school has many professors with a wide range of practical experience and expertise. I would like to take this opportunity to express my sincere gratitude.
Comments from supervisors
Congratulations to Shibata-san on receiving the Tax Museum Award. As your professor, I am extremely pleased that your enthusiastic research has paid off.
Recently, at the G20 summit held in Washington, crypto assets (virtual currencies) such as Libra, which is planned by Facebook in the United States, were discussed, but the summit concluded with a common understanding among the countries that there are still risks and concerns. Libra is a stable coin whose value is backed by legal tender, but this did not dispel the concerns of the participating countries. However, in reality, crypto assets (virtual currencies) are expanding in Japan as well, and tax evasion is also rampant, with reports of 10 billion yen in undeclared income and corporate taxes being reported. The national tax authorities have also conducted a lot of investigations, but the legal framework for taxation of the crucial profits has not necessarily caught up. As Shibata's paper points out, the underlying issue is whether it is acceptable to treat crypto assets (virtual currencies), which come in more than 2,000 varieties, as a single entity, and further consideration by the tax authorities is required in the future.
In a time when there was still little prior research or specialized literature, Shibata-san actively collected information and took an interest in writing his thesis. I believe that the content of his research and his proposals will have an impact on tax authorities.
At our graduate school, students go through several steps to complete their thesis, including case study in each seminar, deciding on a thesis topic, formulating a research proposal, and making an interim presentation. If you take each of these steps seriously and put in the effort, you will surely end up with a good thesis.
Left: Visiting Professor Koichi Saito (supervisor) Right: Fuyuki Shibata
Previous years' Tax Museum Award and Tax Museum Encouragement Award winners
- 2018 27th
Title: "Issues with the Special Taxation Measures Act as an Investment Promotion Tax System: An Examination of Special Taxation Measures and the Patent Box Tax System as Investment Incentives"
Graduate School of Economics (SME Management Consultant Training Course) Graduate, Atsushi Arakaki (Supervisor: Professor Yoshio Tai) - 2015 24th
Title: "Securing International Taxing Rights and Addressing Base Erosion: Reconsidering the Principles of International Division on International Double Non-taxation"
Mr. Kuniyasu Inami Visiting Professor Graduate School of Accounting & Finance, MBA Program - 2014 23rd
Title: "A Study on the Tax System for Donations - Focusing on the "Institutionalization of Year-End Adjustment for Donation Deductions""
Daisuke Uemura, Graduate of Graduate School of Accounting & Finance, MBA Program (Supervisor: Visiting Professor Tsuneo Arima)
Title: "A Study on Consumption Tax: Tax Exemption for Social Insurance Medical Treatment and the So-called 'Loss Tax'"
Mr. Shunsuke Kanehara, Graduate of Graduate School of Accounting & Finance, MBA Program (Supervisor: Professor Satoko Kimoto) - 2012 21st
Title: "Countermeasures against tax avoidance in corporate tax trusts: Countermeasures against tax avoidance through multi-layered schemes using foreign trusts"
Mr. Yasuhiro Fushimoto, Graduate Graduate School of Accounting & Finance, MBA Program (Supervisor: Visiting Professor Susumu Honjo) - 2011 20th
Title: "Residency rules for inheritance tax"
Mr. Hideto Negishi, Graduate Graduate School of Accounting & Finance, MBA Program (Supervisor: Visiting Professor Susumu Honjo)