Post
Topic
Board Bitcoin Discussion
Re: Brazilian exchanges hit all-time volume high in October
by
VirosaGITS
on 01/11/2015, 23:17:04 UTC
I think their problems with the Brazilian Real is making them see cryptocurrencies in a different way, much like what happened (and is still happening) in Venezuela.

I agree. The Brazilian Real lost between 30% and 40% of its value in 2015 compared to the US Dollar.

Don't they in Brazil have to pay a VAT as well when they are buying bitcoins?
As far as I know, VAT-type tax is not applied to any bitcoins sales in Brazil. Prices have been around 4-8% above US prices during the first half of the month and equivalent to US prices over the second half.
I believe exchanges pay taxes only on top of the trading/deposit/withdraw fees they collect.

Buying someone who does not live in Brazil, do they still have to pay VAT or are free of charge?

No VAT.



No its not VAT. Vat is a Europe thing. That doesn't mean that rip off tax doesnt exist outside the Eurozone, what they call it does not matter. Brasil has a huge tax on sale of Bitcoin and it really kill the deal.

So the BTC price in Brazil is 30% higher. So its really not nice... and that does not mean sellers get 30% more, sellers get about the same as selling here and the tax take the 30%.