It is a truth universally acknowledged, that a single investor in possession of a good fortune, must be in want of a lenient tax system. Alas, dear reader, the Brazilian finance ministry has seen fit to dash such hopes, introducing a flat rate of 17.5% on all capital gains from digital assets, effective June 12th.
This Provisional Measure 1303, a most unwelcome guest, hath done away with the tiered system of yore, which allowed residents to sell up to R$35,000 (approximately $6,300) in crypto each month, tax-free. Now, every gain, no matter how small, shall be subject to the aforementioned levy.
According to local reports, this new rule treats all traders with equal severity, regardless of their station. Small-scale sellers, once exempt from taxation, now find themselves owing 17.5% on every gain. Big players, on the other hand, may actually find themselves saving a pretty penny, as the top rate hath been reduced from 22.5% to 17.5%.
NEW: Brazil ends crypto tax exemptions with a new flat 17.5% tax on all profits—no more R$35K monthly buffer! Under Provisional Measure No. 1303, even small $BTC or $ETH gains are now taxed equally. Retail traders hit hardest, while bigger players may benefit.#Brazil…
— FinanceFeeds (@FXFinanceFeeds) June 13, 2025
But, dear reader, do not think that this measure hath only affected crypto. Oh no, fixed-income papers like LCAs, LCIs, CRIs, and CRAs now carry a 5% profit tax, while betting operators hath seen their rate jump from 12% to 18%. The ministry, in its infinite wisdom, hath declined to comment on the expected revenue from these changes.
Meanwhile, a separate bill, a most intriguing development, would allow employers to pay part of a salary in crypto, capped at 50%. Full crypto pay would only be allowed for foreign staff or contractors under strict rules. Wages for standard workers must stay in fiat, while contractors could opt for 100% crypto if both sides agree.
And so, dear reader, we find ourselves in a most curious situation. The Brazilian government, in its zeal to simplify taxes, hath created a system that is at once more equitable and more burdensome. Ah, the joys of taxation! 🤑
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2025-06-15 23:43