Brazil Enacts New Cryptocurrency Tax Policy

Brazil has implemented significant changes to its cryptocurrency tax policy. The country’s new decree, Decree No. 1303, establishes a uniform 17.5% tax rate for individual profits derived from cryptocurrencies. This replaces the prior exemption on monthly sales up to 35,000 reais ($6,300). Previously, gains exceeding this threshold were subject to a progressive tax system, culminating in a maximum rate of 22.5% applied to transactions exceeding $5.4 million.