Monday, January 30, 2023
HomeBitcoinRio De Janeiro to Accept Tax Payment in Crypto From 2023

Rio De Janeiro to Accept Tax Payment in Crypto From 2023

Rio De Janeiro to Implement Crypto Tax Payment From 2023
  • NFT-based governance rules will be implemented throughout various sectors.
  • Binance CEO Changpeng Zhao has announced plans to create a new regional office.

Taxes on urban real estate inside the municipal borders of Rio de Janeiro, Brazil, will now be accepted in Bitcoin (BTC). Chicao Bulhoes, the secretary of economic development, innovation, and simplification, declared that the new pro-crypto tax rules will effect in 2023. Furthermore, supporting Mayor Eduardo Paes’s efforts, Binance CEO Changpeng Zhao has announced plans to create a new regional office.

Zhao tweeted:

“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.”

First Brazilian City

Rio de Janeiro will be the first Brazilian city to accept BTC payments once this program is fully implemented. Brazil’s secretary of finance and development, Pedro Paulo, said the city hopes to create a strong market for this new asset class by accepting cryptocurrency.

NFT-based governance rules will be implemented throughout various sectors, including the creative industries, as part of this city’s long-term strategic vision. According to a trademark registration filed on Jan. 29 by Meta, the world’s most popular social networking platform, the company will be providing numerous BTC/crypto-related services.

According to Pedro Paulo, this would assist local artists while attracting visitors. The most recent efforts in Rio de Janeiro are not the first of their kind. In a meeting with Miami Mayor Francis Suarez, Paes expressed his plan to invest 1% of the city’s finances in digital currency. If one pays their taxes in crypto, Rio de Janeiro’s Finance and Planning Secretary Pedro Paulo has said that the city would give them an extra discount.

RELATED ARTICLES

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Most Popular

Recent Comments