Just as there is the famous "Brazilian way", there is also the foreign way... study! Look for information and you will learn not to fear the lion... you will only deviate from its path. 🤯🤑😇
Victor Adamo
--
Bullish
In Brazil, cryptocurrency tax is regulated by the Federal Revenue Service. Here are the main rules:
Exemption 1. *Exemption up to R$$ 35,000.00*: There is no tax for earnings up to R$$ 35,000.00 per year. 2. *Exemption for small earnings*: Earnings up to R$$ 5,000.00 per month are not taxed.
Income Tax 1. *Rate*: 20% on earnings above R$$ 35,000.00 per year. 2. *Declaration*: Must be declared in the Income Tax Return (DIRPF). 3. *Deadline*: Declaration until the last business day of April.
Types of Taxable Gains 1. *Sale of cryptocurrencies*: Capital gains. 2. *Staking and Mining*: Income considered as capital gains. 3. *Airdrops and Giveaways*: Considered as income. 4. *Interest on loans*: Taxed as income.
Required Documentation 1. *Income Tax Return (DIRPF)*. 2. *Proof of purchase and sale*. 3. *Transaction history*. 4. *Proof of residence*.
Deadlines and Fines 1. *Deadline for filing*: Last business day of April. 2. *Late fine*: 1% per month. 3. *Interest*: 1% per month.
Important Regulations 1. *Law No. 13,506/2017*: Regulates the taxation of cryptocurrencies. 2. *Normative Instruction RFB No. 1,888/2019*: Provides guidance on the declaration of cryptocurrencies. 3. *Ordinance RFB No. 2,439/2020*: Establishes rules for the declaration.
Resources 1. *Federal Revenue Service*: Official website. 2. *Income Tax Return*: Official guide. 3. *Consult an accountant or specialist*: For personalized guidance.
Remember to consult a professional for specific guidance on your situation.
Disclaimer: Includes third-party opinions. No financial advice. May include sponsored content.See T&Cs.