Brazil imposes a unified 17.5% tax rate on cryptocurrency profits, ending the tax exemption policy for small investors
According to CoinDesk, Brazil has abolished its long-standing tax exemption on cryptocurrency gains. Under the new provisional measure (Provisional Measure No. 1303), individual profits from cryptocurrencies will be subject to a unified tax rate of 17.5%.
Previously, individuals selling up to 35,000 Brazilian reais (approximately $6,300) in cryptocurrencies per month were exempt from taxes. Before this change, gains exceeding that threshold were taxed at progressive rates, with the highest rate reaching 22.5% for transaction amounts over $5.4 million.
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