Rio de Janeiro to Allow Bitcoin Tax Payments in 2023 By DailyCoin
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Rio de Janeiro to Allow Bitcoin Tax Payments in 2023 Brazil’s second-largest city, Rio de Janeiro, is planning to accept payments for real estate taxes, namely the IPTU (tax on property and urban territory).
The Secretary of Economic Development, Innovation, and Simplification, Chico Bulhoes, announced that new crypto tax laws to this end will be established in 2023.
In cooperation with the city’s mayor, Eduardo Paes, Changpeng Zhao, the CEO of Binance, one of the largest cryptocurrency exchanges in the industry, took to Twitter (NYSE:) to announce the opening of a new Binance office in the region.
9 days ago, I made a handshake deal with mayor @eduardopaes. Rio De Janeiro will accept crypto for tax payments, and @Binance will open an office in Rio. He’s done his part. We are working on ours. https://t.co/HPJONtBfQ8
— CZ Binance (@cz_binance) March 26, 2022
The initiative aims to transform the city into “Crypto Rio,” as it will become the first city in the country to adopt Bitcoin for tax payments.
“Our effort here is to make sure that Rio has official initiatives that recognize the crypto market. Who invests in crypto and lives in Rio will be able to use crypto to pay taxes in the city of Rio. We will advance on this project quickly,”
Paes stated.
According to Pedro Paulo, the secretary of finance and planning, Rio de Janeiro also plans to integrate NFT-based governance policies across various industries such as art and tourism.
“Going forward, we will use crypto-assets to stimulate the arts, culture, and tourism through the use of NFTs, and create a solid and responsible governing policy to evaluate the realization of crypto investments,”
Paulo said.
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Rio de Janeiro to Allow Bitcoin Tax Payments in 2023 Brazil’s second-largest city, Rio de Janeiro, is planning to accept payments for real estate taxes, namely the IPTU (tax on property and urban territory).
The Secretary of Economic Development, Innovation, and Simplification, Chico Bulhoes, announced that new crypto tax laws to this end will be established in 2023.
In cooperation with the city’s mayor, Eduardo Paes, Changpeng Zhao, the CEO of Binance, one of the largest cryptocurrency exchanges in the industry, took to Twitter (NYSE:) to announce the opening of a new Binance office in the region.
9 days ago, I made a handshake deal with mayor @eduardopaes. Rio De Janeiro will accept crypto for tax payments, and @Binance will open an office in Rio. He’s done his part. We are working on ours. https://t.co/HPJONtBfQ8
— CZ Binance (@cz_binance) March 26, 2022
The initiative aims to transform the city into “Crypto Rio,” as it will become the first city in the country to adopt Bitcoin for tax payments.
“Our effort here is to make sure that Rio has official initiatives that recognize the crypto market. Who invests in crypto and lives in Rio will be able to use crypto to pay taxes in the city of Rio. We will advance on this project quickly,”
Paes stated.
According to Pedro Paulo, the secretary of finance and planning, Rio de Janeiro also plans to integrate NFT-based governance policies across various industries such as art and tourism.
“Going forward, we will use crypto-assets to stimulate the arts, culture, and tourism through the use of NFTs, and create a solid and responsible governing policy to evaluate the realization of crypto investments,”
Paulo said.
EMAIL NEWSLETTER
Join to get the flipside of crypto
Upgrade your inbox and get our DailyCoin editors’ picks 1x a week delivered straight to your inbox.
[contact-form-7]
You can always unsubscribe with just 1 click.
Continue reading on DailyCoin
Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.
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