RATE Group | Cryptocurrency Transactions in Brazil Must Now be Reported to its Tax Authorities
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Cryptocurrency Transactions in Brazil Must Now be Reported to its Tax Authorities

03 Aug Cryptocurrency Transactions in Brazil Must Now be Reported to its Tax Authorities

Posted at 06:15h in Cryptocurrency News by

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RIO DE JANEIRO, BRAZIL – The compulsory provision of information to the Federal Treasury on purchase and sale operations involving virtual currencies (cryptocurrencies or active cryptocurrencies) became effective as of Thursday, August 1st.

Bitcoin is the most famous of them. The measure applies to companies, individuals, and brokers using this financial transaction system.

Bitcoin is the most famous cryptocurrency.
Bitcoin is the most famous cryptocurrency. (Photo internet reproduction)

The rules for this accountability are defined in Revenue Ruling RFB IN 1.888/2019. Information on each transaction must be reported monthly. Therefore, the first register will be carried out in September, based on data from August.

The rule states that information on transactions must be provided using the National Collection system, available through the Virtual Service Center (e-CAC).

Two declaratory measures (ADEs) from the General Coordination of Programming and Studies (Copes) were published in June. These include layout guidance manuals…

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