Revenue resumes disclosure of cryptocurrency data and warns about declaration

Revenue resumes disclosure of cryptocurrency data and warns about declaration

Photo of a lion, symbol of Income Tax

Photo of a lion, symbol of Income Tax. Photo: Ingo Stiller.

In a statement released last Friday (11), the Brazilian Federal Revenue announced that it will resume the disclosure of details of bitcoin and other cryptocurrency transactions carried out by investors.

According to the note, the new release of data occurs after a readjustment of the data collected by the tax authorities. Thus, the RFB must disclose the results of negotiations from previous months on a monthly basis.

“The Federal Revenue resumes, as of this month, the service of disclosure of open data on transactions with crypto assets, after addressing aspects of reorganization of the data received. With this resumption, data updates will once again occur monthly,” says the IRS note.

In its note to the bitcoin and cryptocurrency investor market in Brazil, the IRS stated that transactions in brokerage firms in the market must follow the guidelines.

Thus, the RFB reminds that exchange companies domiciled in Brazil must report all transactions, regardless of the value.