Are Brazil's New Crypto Taxes Setting a Worldwide Example? 🇧🇷
Brazil's Senate approved new income #tax rules targeting cryptocurrency holdings on foreign exchanges.
Starting Jan 1, 2024, Brazilians earning over $1,200 from overseas exchanges will face up to 15% tax, equal to domestic rates.
Funds accessed before 2024 face an 8% tax. The bill also affects exclusive funds and foreign companies in Brazil's financial market. The #government aims to raise $4 billion in 2024.
Despite opposition claiming poor governance, these measures accompany tightened #regulations by Brazil's central bank to curb potential crypto tax evasion.
