CoinVoice has recently learned, according to CoinDesk, that Brazil has canceled its long-standing tax exemption policy on Crypto Assets gains. According to the new temporary decree (Decree No. 1303), individual Crypto Assets profits will be uniformly taxed at a rate of 17.5%.
Previously, individuals selling no more than 35,000 reais (approximately 6,300 USD) of Crypto Assets per month were exempt from taxes. Prior to this change, gains exceeding that limit were subject to progressive tax rates, with a maximum rate of 22.5% applicable to transaction amounts over 5.4 million USD.
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CoinVoice has recently learned, according to CoinDesk, that Brazil has canceled its long-standing tax exemption policy on Crypto Assets gains. According to the new temporary decree (Decree No. 1303), individual Crypto Assets profits will be uniformly taxed at a rate of 17.5%.
Previously, individuals selling no more than 35,000 reais (approximately 6,300 USD) of Crypto Assets per month were exempt from taxes. Prior to this change, gains exceeding that limit were subject to progressive tax rates, with a maximum rate of 22.5% applicable to transaction amounts over 5.4 million USD.