Brazil imposes a unified 17.5% tax rate on cryptocurrency profits and ends tax exemption policy for small investors
Online reports, CoinDesk reports that Brazil has lifted its long-standing tax exemption policy on cryptocurrency earnings. According to the new interim decree (Decree No. 1303), a unified tax rate of 17.5% will be levied on personal cryptocurrency profits. Previously, individuals sold no more than 35,000 reais (approximately US$6,300) per month without paying taxes. Prior to this change, gains above this limit were subject to progressive tax rates, with a maximum tax rate of 22.5%, applicable to transactions exceeding US$5.4 million.
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