randomm

Crypto Just Got Pricier In Brazil: 17.5% Tax Kicks In

Brazil’s finance ministry has moved to simplify crypto taxes, swapping a tiered system for a single flat rate. On June 12, Provisional Measure 1303 took effect, scrapping the old break that let residents sell up to R$35,000 (about $6,300) in crypto each month tax‑free. Now, every capital gain from digital assets faces a 17.5% levy.

According to local reports, the new rule ends the exemption and treats all traders the same. Small‑scale sellers who once paid nothing now owe 17.5% on every gain. Big players could actually save money. Before, anyone moving more than R$30 million in a month hit a 22.5% top rate. Now they pay just 17.5%.

Crypto Just Got Pricier In Brazil: 17.5% Tax Kicks In

Brazil’s finance ministry has moved to simplify crypto taxes, swapping a tiered system for a single flat rate. On June 12, Provisional Measure 1303 took effect, scrapping the old break that let residents sell up to R$35,000 (about $6,300) in crypto each month tax‑free. Now, every capital gain from digital assets faces a 17.5% levy.

According to local reports, the new rule ends the exemption and treats all traders the same. Small‑scale sellers who once paid nothing now owe 17.5% on every gain. Big players could actually save money. Before, anyone moving more than R$30 million in a month hit a 22.5% top rate. Now they pay just 17.5%.

https://bitcoinist.com/crypto-just-got-pricier-in-brazil-17-5-tax-kicks-in/