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⚖️⚖️⚖️ The law that regulates the taxation of cryptocurrencies in Brazil is Law No. 14,478/2022, known as the Cryptocurrency Law. It establishes rules for the taxation, regulation and use of cryptocurrencies in the country.
Main points of the law 1. *Taxation*: Profits obtained with cryptocurrencies are considered variable income and are subject to Income Tax (IR). 2. *Exemption*: Transactions below R$$ 35,000.00 per month are exempt from tax. 3. *Rate*: Profits above R$$ 35,000.00 are taxed at rates of 15% to 22.5%. 4. *Declaration*: Taxpayers must declare cryptocurrencies in their Income Tax Return.
5. *Regulation*: The Central Bank and the Securities and Exchange Commission (CVM) regulate the sector.
Sources 1. Law No. 14,478/2022 (Portal of the Chamber of Deputies) 2. Federal Revenue (RF) 3. Central Bank of Brazil (BCB) 4. Securities and Exchange Commission (CVM)
Consult an accounting or tax professional for specific guidance on your situation.
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