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Brazil’s Federal Revenue now requires citizens to pay taxes on like-kind crypto trades -Breaking

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Brazil’s Federal Revenue now requires citizens to pay taxes on like-kind crypto trades

Brazil’s Federal Reserve has announced that Brazilian crypto-asset investors must be subject to income tax for transactions that result in the similar-kind exchange or transfer of cryptocurrency.BTCFor (ETH).

Declaration of the RFB was Published in the Diário Oficial da União and was the result of a consultation made by a citizen of the country to the regulator. Last year’s end, the group had dissolved. Issued an opinionIn which it stated that cryptocurrency trading is taxable even though there’s no conversion to real (Brazil’s national currency).