Citizens living in Rio de Janeiro will be able to pay their property taxes through digital assets from 2023.
Cryptocurrency activities are increasing around the world, which paves the way for new regulations for countries. In order to protect the country’s economy and investors, crypto regulations that have not yet been clarified are constantly being updated. In Brazil, he also brings innovations to keep the country’s future in the crypto industry on the right track.
Property Tax to be Paid with Digital Asset in Brazil
The Brazilian city of Rio de Janeiro will allow its residents to pay property taxes with digital assets from 2023, according to a decree released this week.
first in March by the Mayor of Rio de Janeiro Eduardo Paes Announced by the directive, the directive allows citizens to make payments with digital assets. The city government will only receive the funds in fiat. It will rely on its partner VASPs to transform digital assets at no additional cost to taxpayers.
Mayor paessaid on the subject:
“Rio de Janeiro is a global city. Therefore, we follow technology and economic developments in the universe of digital financial assets. We look to the future and want to be the innovation and technology capital of the country. Our city is the first city in Brazil to offer this type of payment to taxpayers.”
