The president of the National Bank for Economic and Social Development (BNDES), Aloizio Mercadante, advocates for an increase in the taxation of cryptocurrencies sent abroad as an alternative to compensate for the decline in the increase of the IOF (Tax on Financial Transactions). The increase in IOF was determined by the government through a decree, which has already been partially revoked last month.
Mercadante suggested increasing the tax on cryptocurrencies after proposing, in a meeting at BNDES, that the tax on bets should also rise to reduce the impact of the IOF increase. A rise from 12% to 18% in the rate is under discussion. However, for cryptocurrencies, Mercadante did not advance a specific percentage. The information comes from Folha and O Globo.
The president of the Chamber of Deputies, Hugo Motta, said at the beginning of the week that there is a possibility of creating a tax on transactions with cryptocurrencies so that the government can withdraw from the project to increase the IOF. Motta, however, remained cautious, emphasizing that the measure 'affects the economy.'
The creation of a tax on cryptocurrencies to alleviate the IOF also gained momentum when the chief economist of Itaú, Mario Mesquita, argued that the government should create taxes on both bets and cryptocurrencies to offset the government’s measure.
When asked last month about the new taxes on cryptocurrencies, Mesquita stated that ideally there should be no taxes, but recognized the lack of equality in the financial market. 'Ideally, there should be no IOF, but it doesn't make sense to exempt the crypto segment if others will be taxed.'