Among other points, the text on financial applications, prepared by the Ministry of Finance and which is being analyzed by the Civil House, seeks to create clear definitions for the taxation of virtual assets.
The idea is to apply the same tax collection rule that exists for investments when the virtual asset is classified as a financial application, such as cryptocurrencies, making clear the charge of up to 22.5% Income Tax on gains.
“Other virtual assets, such as digital works of art and NFTs, continue with the capital gains taxation rule, as was the previous interpretation, with the exemption for the sale of goods of small value, up to 35 thousand reais”, said one of the sources on condition of anonymity.
EQUALITY FOR SHARES
According to the text being prepared, the Income Tax rate on gains generated in so-called “day trade” operations, when the investor buys and sells shares within the same day, will be reduced from 20% to 15%. The new level will be the same as that for common stock operations.
According to one of the sources, the coexistence of two regimes brings inefficiency and increases compliance costs for taxpayers and inspection.
Tags: Government prepares rule taxation crypto assets adjustments taxation shares tax havens
