Brazil is in the process of becoming the leader of the crypto-currencies . At present, there is more accounts opening of crypto-currency trading than traditional brokerage accounts.
I read that there is 400 000 active users and around 2000 BTC exchanged per day. Great figures !
Back in 2009, if someone living under Brazilian law made his or her first transaction buying and selling bitcoin at a profit, they had to pay (or should have paid) income tax in order of 15% of its capital gains (unless the total amount involved was less than to R$35,000 ($10,600) in a month, when a tax exemption was applicable).
It's not easy to have a business in Brazil. Anyone wanting to do so needs to hire an accountant and a lawyer to prepare a contract equivalent to the articles of organization in the US. Afterwards, there is the need to obtain a taxpayer ID issued by the federal, state and municipal governments.
But differently from most businesses, cryptocurrency-related ventures that deal directly with large sums of money, securities, art, jewelry or other assets are subject to very specific duties regarding anti-money laundering policies and compliance in general.
First presented in 2015, the discussed bill adds nothing to the digital currency legal environment.
CollectedThey leaned on the crypt to get government scope. They're not able to do business smoothly, the crypt started the business easily. The people of Brazil are benefiting and the government is satisfied with the tax.