RATE Group | IRS Brazil Requires Reporting All Bitcoin Transactions Starting Today
56529
post-template-default,single,single-post,postid-56529,single-format-standard,ajax_fade,page_not_loaded,,qode_grid_1300,side_area_uncovered_from_content,footer_responsive_adv,qode-content-sidebar-responsive,qode-child-theme-ver-1.0.0,qode-theme-ver-13.3,qode-theme-bridge,wpb-js-composer js-comp-ver-7.9,vc_responsive
 

IRS Brazil Requires Reporting All Bitcoin Transactions Starting Today

01 Aug IRS Brazil Requires Reporting All Bitcoin Transactions Starting Today

Posted at 15:43h in Bitcoin News by

[ad_1]

Beginning today, Aug. 1, Brazil citizens are obligated to report on their crypto transactions with the country’s Internal Revenue Service (IRS).

Entities in Brazil must report on all kinds of crypto transactions

As Cointelegraph Brazil reports today, transactions involving cryptocurrencies such as Bitcoin (BTC) must be reported to the IRS in accordance with rules established by Normative Instruction 1,888 introduced in May 2019.

As reported by national public news agency Agência Brasil, the new measure applies to individuals, companies and brokerages, and includes all kinds of crypto-related activities, including buying and selling, as well as donations, barters, deposits, withdrawals and others.

The measure requires entities to provide monthly reports by the end of the month following the month when crypto-related transactions occurred, the report notes. As such, the information for the month of August should be provided until the last business day of September.

According to the…

[ad_2]

Source link

Tags:
, , , , , , ,