Brazil Considers Taxing Crypto Transactions to Offset Financial Transaction Tax Increase

币界网报道:According to a report by Bijie.com, Brazil is considering imposing a tax on cryptocurrency transactions to mitigate the impact of the increase in the financial transaction tax (IOF) on the wider population. Brazil's House of Representatives Speaker Hugo Motta raised the idea before a meeting with Finance Minister Fernando Haddad and Senate President Davi Alcolumbre. Motta expressed opposition to the tax increase, saying that the Brazilian people could not afford another tax increase, but supported the idea of extending this tax to cryptocurrency transactions. Legal experts pointed out that only a law approved by Congress can change the definition of taxable events and include new asset classes in the scope of taxation.

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