Brazil Sets Flat 17.5% Tax on Crypto Profits, Ending Exemption for Smaller Financiers

The post Brazil Sets Flat 17.5% Tax on Crypto Profits, Ending Exemption for Smaller Financiers appeared on BitcoinEthereumNews.com.Brazil has actually scrapped a long-standing tax exemption on cryptocurrency gains, with a brand-new provisional step (MP 1303), imposing a 17.5% tax on all crypto profits for individuals. The new rule replaces this system with a flat tax, indicating smaller financiers will face higher tax burdens while big holders might see their bills shrink, regional news outlet Website do Bitcoin reports. Alongside crypto, the new procedure affects fixed-income investments and online betting, with the former now incurring a fixed 5% tax on earnings and the latter seeing taxes on operator profits increase from 12% to 18%.

Kingsman | Financial Advisor

Kingsman a 35-year-old financial advisor from London, UK, epitomizes the blend of analytical prowess and personable guidance. With a decade of experience in the financial sector, Kingsman has cultivated a reputation for his strategic approach to wealth management and investment advising. His journey began at the University of Oxford, where he graduated with honours in Economics, a discipline that fueled his fascination with the financial markets and their intricacies.

See Full Bio