Don't they in Brazil have to pay a VAT as well when they are buying bitcoins? This sucks since this makes Bitcoin about 20% more expensive for the Brazilians.
Nevertheless, I am not surprised that Bitcoin purchases are exploding in Brazil if we take into consideration crazy volatility of their national currency.
VAT is general is scam tax to be honest. How can you tax something which was already taxed before - I am talking about real goods here: like groceries or electronics.
With bitcoin - which is digital currency taxing it with VAT is is PURE scam, and I am wondering why there are no black market exchanges in Brazil yet.