What is a Country of Tax Residence?

A country of tax residence is the country where you are legally required to pay taxes, such as income tax or corporate income tax.

Under the applicable regulations, crypto-asset exchange service providers are required to collect information regarding customers' countries of tax residence not only when opening a new account, but also from existing account holders.

For more information about the regulations, please refer to the website of the National Tax Agency (NTA) of Japan.

For Individual Customers

If you reside in Japan, your country of tax residence is generally Japan only.

However, if you are also subject to income tax or an equivalent tax under the laws of another country, you must also declare that country as your country of tax residence.

Examples:

• A Japanese citizen residing in Japan who is liable to pay taxes only in Japan
  → Your country of tax residence is Japan only.
• A U.S. citizen residing in Japan who is liable to pay taxes in both Japan and the United States
  → Your countries of tax residence are Japan and the United States.

For Corporate Customers

In general, a corporation's country of tax residence is the country where its head office or principal place of business is located and where it is subject to corporate income tax or an equivalent tax.

However, if the corporation's place of effective management is located in another country, that country may also be regarded as its country of tax residence.

In addition, corporate customers should first determine whether they qualify as a Specified Corporation. If so, they are also required to declare the countries of tax residence and other relevant information of the entity's Controlling Persons (Beneficial Owners).

For more information about Specified Corporation, please refer to the relevant guidance.

If you are unsure of your country of tax residence, please consult a qualified tax advisor, attorney, or other professional advisor.