Posted 12/15/2023, 8:48:45 AM
Brazil Introduces 15% Tax on Overseas Crypto Assets, 8% Discount for Early Filers
- Brazil signed a law introducing taxes on crypto assets held abroad by citizens, starting in 2024 at a rate of 15%
- Taxes also apply to other overseas assets like investment funds and real estate
- Those who start paying in 2023 get an early bird rate of 8%
- Earnings up to $1,200 are exempt from the new taxes
- Spain also recently reminded citizens to declare overseas crypto holdings over $55,000