Brazil Eyes Crypto Taxation Changes in New Bill

Brazil Eyes Crypto Taxation Changes in New Bill : Brazil is on the verge of Presenting a new crypto taxation scheme proposed in a bill to be presented to the National Congress in the coming days. The bill proposes taxing cryptocurrencies the same way as shares and capital instruments with fluctuating exchange rates, instead of categorizing them as goods. Brazil is planning to change the way how cryptocurrencies are being taxed. a new bill that deals with investment taxation for individuals will propose to change how crypto is considered allowing it to be taxed similarly as shared and capital instruments with a variable exchange rate.

Brazil Eyes Crypto Taxation Changes in New Bill

This tax regime applies to cryptocurrency and non – fungible tokens (NFTs) traded by investors who transact over 35,000 reais (close to $7000 monthly in all platforms where they are registered. This value is higher than the lower limit for stocks, currently set at 20,000 reais ( close to $4,000

However it is uncertain if the new bill will change these limits allowing crypto investors to be exempt from paying taxes for trading small cryptocurrency amounts The changes from the law are expected to be applied in 2025 and but Congress needs to pass the law that has been in development for over a year

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This new tax regime is part of the increased oversight the Brazilian government has begun to exert on crypto in February the Brazilian crypto tax authority detected irregularities in over 25,000 cryptocurrency tax statements combining traditional and artificial intelligence techniques to identify these problems.

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